Nigeria: leading companies by market capital 2022

Dangote Cement, a non-energy material enterprise based in Lagos and active in various African countries, was the largest company in Nigeria by market capitalization. In 2022, its outstanding shares had a market value of over 11.2 billion U.S. dollars. Additionally, MTN Nigeria was the 18th largest company in Africa by market capitalization. Airtel Africa ranked third in Nigeria, with a value of around 6.9 billion U.S. dollars.

Leading companies in Nigeria in 2022, by market capitalization (in million U.S. dollars)

Characteristic	Value of market capitalization in million U.S. dollars
Dangote Cement	11,203
MTN Nigeria	10,471
Airtel Africa	6,903
BUA Cement	5,759
Nestle Nigeria	2,658
BUA Foods	2,575
Zenith Bank	1,691
Guaranty Trust Holding Company	1,585
FBN Holdings	1,070
Stanbic IBTC Holdings	1,064

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Release date

June 2022

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Region

Nigeria

Survey time period

March 31, 2022

Supplementary notes

The source adds the following information:
"Data relates to listed companies only. Dual listings on African exchanges were excluded".

The release date is the date of access.

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