Top companies in Nigeria by market value
The 30 largest companies on the Nigerian Exchange by market value, from Dangote Cement and Airtel Africa to the big banks, with each company's CAC registration record.
These are the 30 largest companies listed on the Nigerian Exchange (NGX), ranked by market value: the share price multiplied by the number of shares in issue. Figures are at the close on 13 November 2026, converted at ₦1,350 to the US dollar.
Dangote Cement Plc is the most valuable company on the exchange at about ₦24.8 trillion ($18.4bn), followed by Airtel Africa Plc and MTN Nigeria Communications Plc. The ten largest companies make up 73% of the value of all 137 listed companies we track.
The 30 largest companies on the NGX
| # | Company | Ticker | Sector | Market value | US$ | Incorporated |
|---|---|---|---|---|---|---|
| 1 | Dangote Cement Plc | DANGCEM | Cement | ₦24,802bn | $18.4bn | 1992 |
| 2 | Airtel Africa Plc | AIRTELAFRI | Telecoms | ₦23,519bn | $17.4bn | |
| 3 | MTN Nigeria Communications Plc | MTNN | Telecoms | ₦17,573bn | $13.0bn | 2000 |
| 4 | BUA Foods Plc | BUAFOODS | Consumer Goods | ₦13,691bn | $10.1bn | 2005 |
| 5 | BUA Cement Plc | BUACEMENT | Cement | ₦10,092bn | $7.47bn | 2014 |
| 6 | Seplat Energy Plc | SEPLAT | Oil & Gas | ₦9,744bn | $7.22bn | 2009 |
| 7 | Aradel Holdings Plc | ARADEL | Oil & Gas | ₦5,631bn | $4.17bn | 1992 |
| 8 | HBM Nigeria Plc | HBMNG | Industrial Goods | ₦5,235bn | $3.88bn | |
| 9 | Zenith Bank Plc | ZENITHBANK | Banks | ₦4,760bn | $3.52bn | 2023 |
| 10 | First HoldCo Plc | FIRSTHOLDCO | Financial Services | ₦4,757bn | $3.52bn | 2010 |
| 11 | Guaranty Trust Holding Company Plc | GTCO | Financial Services | ₦4,357bn | $3.23bn | 2020 |
| 12 | Sterling Financial Holdings Company Plc | STERLINGNG | Financial Services | ₦3,909bn | $2.89bn | 2021 |
| 13 | Transcorp Hotels Plc | TRANSCOHOT | Services | ₦2,975bn | $2.20bn | 1994 |
| 14 | Stanbic IBTC Holdings Plc | STANBIC | Financial Services | ₦2,624bn | $1.94bn | 2012 |
| 15 | Nigerian Breweries Plc | NB | Consumer Goods | ₦2,169bn | $1.61bn | 1946 |
| 16 | Nestlé Nigeria Plc | NESTLE | Consumer Goods | ₦2,101bn | $1.56bn | 1969 |
| 17 | Geregu Power Plc | GEREGU | Utilities | ₦2,064bn | $1.53bn | 2006 |
| 18 | Presco Plc | PRESCO | Agriculture | ₦1,933bn | $1.43bn | 1991 |
| 19 | United Bank for Africa Plc | UBA | Banks | ₦1,856bn | $1.37bn | 1951 |
| 20 | Transcorp Power Plc | TRANSPOWER | Utilities | ₦1,740bn | $1.29bn | |
| 21 | Access Holdings Plc | ACCESSCORP | Financial Services | ₦1,440bn | $1.07bn | 2021 |
| 22 | International Breweries Plc | INTBREW | Consumer Goods | ₦1,414bn | $1.05bn | 1971 |
| 23 | Wema Bank Plc | WEMABANK | Banks | ₦1,304bn | $0.97bn | 1945 |
| 24 | Fidelity Bank Plc | FIDELITYBK | Banks | ₦1,205bn | $0.89bn | 1987 |
| 25 | Okomu Oil Palm Plc | OKOMUOIL | Agriculture | ₦1,085bn | $0.80bn | |
| 26 | Guinness Nigeria Plc | GUINNESS | Consumer Goods | ₦911bn | $0.67bn | 1950 |
| 27 | Dangote Sugar Refinery Plc | DANGSUGAR | Consumer Goods | ₦791bn | $0.59bn | 2005 |
| 28 | Unilever Nigeria Plc | UNILEVER | Consumer Goods | ₦645bn | $0.48bn | |
| 29 | UAC of Nigeria Plc | UACN | Conglomerates | ₦512bn | $0.38bn | 1931 |
| 30 | Julius Berger Nigeria Plc | JBERGER | Construction | ₦497bn | $0.37bn | 1970 |
What the list shows
- Cement and telecoms lead. Dangote Cement, Airtel Africa and MTN Nigeria are each worth more than $10bn, and BUA's food and cement businesses both make the top five.
- Banking is the deepest sector. Zenith, First HoldCo, GTCO, Stanbic IBTC, UBA and Access are all in the top 30, along with several smaller lenders.
- Oil and gas is concentrated. Seplat Energy and Aradel Holdings are the only upstream producers in the top ten.
- Listed is not the same as largest. Many of Nigeria's biggest businesses (the Dangote Refinery, NNPC and most private groups) are not listed, so they have no market value and do not appear here.
How to check any of these companies
Every company in the list is a public limited company (Plc) registered with the CAC. Search the name or RC number on Fylings to see its registration status, incorporation date and registered address, or read our guide to checking a CAC registration.
Questions
What is the biggest company in Nigeria?
By market value, Dangote Cement Plc is the largest company on the Nigerian Exchange, worth about ₦24.8 trillion ($18.4bn) on 13 November 2026. Some larger businesses, such as NNPC and the Dangote Refinery, are not listed and have no market value.
How is market value calculated?
Market value (market capitalisation) is the share price multiplied by the number of shares in issue. It changes every trading day with the share price.
Which sector has the most large companies in Nigeria?
Banking: 9 of the 30 largest listed companies are banks or banking groups.
How can I confirm a Nigerian company is registered?
Search its name or RC number on Fylings, which shows the CAC record with its status and incorporation date, or use the CAC public search.
Fylings (2026). “Top companies in Nigeria by market value”. Fylings. https://fylings.com/blog/top-companies-in-nigeria
Free to quote with credit and a link. Writing a story? The Fylings data desk can pull figures for any company or country we cover.
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