Top 10 most valuable companies in Nigeria as of January 2023

Top 10 most valuable companies in Nigeria as of January 2023

As at 2019, Nigeria has a total of 3.1 million registered companies, according to the Corporate Affairs Commission (CAC).

Below is a list of the top 10 most valuable companies in the country as of January 2023. The featured companies are quoted on the Nigerian Exchange (NGX) with considerable Nigerian ownership.

The cited valuations were obtained from Nairalytics.

1. Airtel – N6.24trn

Bharti Airtel Limited, commonly known as Airtel, is an Indian multinational telecommunications services company based in New Delhi. It operates in 18 countries across South Asia, Africa, and the Channel Islands.

In Nigeria, Airtel Networks Limited is a leading telecommunications services provider with headquarters in Lagos, the commercial nerve-centre of Nigeria.

2. MTN – N4.58trn

MTN Group Limited is a South African multinational mobile telecommunications company, operating in many African and Asian countries. Its head office is in Johannesburg.

As of December 2020, MTN recorded 280 million subscribers, making it the 8th largest mobile network operator in the world, and the largest in Africa.

The Nigerian subsidiary, MTN Nigeria Communications PLC provides wireless telecommunication services.

The Company offers roaming, Internet, bills payment, device financing, data management, SIM registration, and other related services. MTN Nigeria Communications serves customers in Nigeria.

3. Dangote Cement – N4.55trn

Dangote Cement Plc is a Nigerian publicly-traded multinational cement manufacturer headquartered in Lagos.

The company is engaged in manufacturing, preparing, packaging, and distributing cement and related products in Nigeria, and has plants or import terminals in nine other African countries.

4. BUA Cement – N3.37trn

BUA Cement PLC is a publicly listed firm headquartered in Nigeria, it produces and markets cement products in the country.

It is the second largest producer in Nigeria after Dangote Cement.

5. BUA Foods – N1.34trn

BUA Foods is a Food and Fast-moving consumer goods (“FMCG”) business which processes, manufactures, and distributes food produce.

6. Nestle – N856.1bn

Nestlé S.A. is a Swiss multinational food and drink processing conglomerate corporation headquartered in Vevey, Vaud, Switzerland. It is the largest publicly held food company in the world, measured by revenue and other metrics, since 2014.

Nestle Nigeria Plc is a publicly listed food and beverage specialty company headquartered in Lagos.

It’s mostly owned by a holding company based in Switzerland and have ties to the company Tolaram Group.

The company was founded in 1961 and conducted trading under the name of Nestle Products Nigeria Limited. 

7. Zenith Bank – N784.9bn

Zenith Bank Plc is a large financial service provider in Nigeria and Anglophone West Africa.

It is licensed as a commercial bank by the Central Bank of Nigeria, the national banking regulator.

As of 31 December 2019, it holds $16.1bn in total assets, with shareholders’ equity of $854 million.

8. GTCo – N734.3bn

Guaranty Trust Holding Company PLC also known as GTCO PLC is a multinational financial services group, that offers retail and investment banking, pension management, asset management and payments services, headquartered in Victoria Island, Lagos, Nigeria.

9. Seplat – N647.3bn

Seplat Petroleum Development Company is a Nigerian independent oil and gas company listed on both the London and Nigerian Stock Exchanges with assets in the Niger Delta.

10. Geregu Power – N484bn

Geregu power Plc is a power generation company registered and domiciled at Itobe – Ajaokuta Express Road, Ajaokuta, Kogi State and its corporate office is situated at 13 Walter Carrington Crescent Victoria Island, Lagos, Nigeria.

The Geregu Power Plant was constructed by the Federal Government of Nigeria and commissioned into service on the 16th February 2007 to generate electric power and supply to the National Grid managed by the Transmission Company of Nigeria (TCN).

The Plant is owned and operated by Amperion Power Distribution Company Limited holding an 80% stake and 20% retained by Federal Government of Nigeria (jointly held by Bureau of Public Enterprise and Ministry of Finance Incorporated).


The information in this article was curated from online sources. NewsWireNGR or its editorial team cannot independently verify all details.

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