In this article, we have compiled the top 10 richest companies in Nigeria. This list is based on how valuable the companies are and their market value on the Stock Exchange. These companies’ stocks are the Blue chip stocks as they are called by stock brokers and analysts.
Here are the top 10 most richest companies in Nigeria according to their market values on the floor of the Nigerian Stock Exchange.
10 richest companies in Nigeria in 2018
10. Ecobank Transnational Incorporated – Market Value: 269.4 billion NGN
Ecobank Transnational Incorporated is an independent regional banking company in West Africa. ETI provides wholesale, retail, investment and transaction banking products and services to government agencies, multinationals, corporate organizations, SMEs and individuals.
9. Guinness Nigeria – Market Value: 301.8 billion NGN
Guinness Nigeria is an iconic African company renowned internationally for its brands of unmatched quality. Guinness has been on the Nigerian Stock Exchange since 1965. They produce beverages such as Foreign Extra Stout, Malta Guinness, Harp, Smirnoff etc.
8. LAFARGE WAPCO – Market Value: 333.2 billion NGN
LAFARGE is a global figure in the production of building materials. Owned by the Lafarge Group, Lafarge extracts resources from the earth to make materials. Lafarge is committed to making the best cement and concrete solution available in all parts of Nigeria. Lafarge group are also the owners of AshakaCem Plc and UNICEM Calabar.
7. SEPLAT Petroleum – Market Value: 387.3 billion NGN
SEPLAT Petroleum Development Company is an indigenous company which is leading many other companies in Nigeria in oil and gas exploration and development. SEPLAT is listed on both the London Stock Exchange and Nigerian Stock Exchange. SEPLAT was formed in 2009 by two Nigerian E & P companies (Shebah E & P and Platform Petroleum Limited).
6. First Bank Plc – Market Value: 509.1 billion NGN
First Bank as the name implies is the very first in Nigeria. The Bank is still one of the leading financial institutions in Nigeria. First Bank has been ranked among the top 500 most valuable banking brand in the world. Their success is attributed to dynamism, introduction of new products and excellent customer service delivery.
5. Zenith Bank – Market Value: 786.5 billion NGN
Founded by Jim Ovia in 1990, Zenith Bank is one of the leading financial institutions in Africa. The bank has thrived over the years on its cultures of strong values, brand equity, professionalism and service excellence which have distinguished the bank among its peers.
4. Guaranty Trust Bank Plc. – Market Value: 852 billion NGN
GT Bank is no doubt one of the financial institutions in Nigeria with the highest customer base. GTB has over 10,000 people in its workforce in Nigeria and other African countries. The corporate banking bias and strong service culture of GTB have been the key factor in the consistent growth of the company.
3. Nestle Plc. – Market Value: 911.6 billion NGN
Nestle Plc are makers of food and beverage products including Maggi®, Milo®, Golden Morn®, Cerelac® etc. Nestle has two main factories in Nigeria and six others in other West African countries. Beyond West Africa, Nestle is also found in several parts of the world.
2. Nigerian Breweries – Market Value: 1,300.7 billion NGN
Nigerian Breweries Plc is the pioneer and largest brewing company in Nigeria. Nigeria Breweries has eight operational breweries in different parts of Nigeria where its beverages are produced and distributed to all parts of the country.
1. Dangote Cement – Market Value: 4,089.7 billion NGN
Dangote cement tops the list of the richest companies in Nigeria. It is a fully integrated cement company, operating in Nigeria and 14 other African countries. Dangote cement is said to be the only Nigerian company on the Forbes Global 2000 companies. Dangote Cement is owned by Dangote Group and the group is owned by the richest man in Africa, Aliko Dangote.