MTN Overtakes Airtel: List of 10 Most Valuable Companies in Nigeria; Otedola Company, 2 banks included
- The list of Nigerian most valuable companies in Nigeria has been revealed based on their market capitalization
- MTN has overtook Airtel to become the most valued company on the Nigerian market
- Stock investors on Tuesday recorded a massive loss of N569.11 billion after seven hours of trading
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MTN Nigeria has emerged as the most valuable company in Nigeria by Market capitalisation, according to the latest data from the Nigerian exchange.
On Tuesday, April 11 the telecom giant, which is a subsidiary of the South African telecoms company MTN Group, displaced Airtel Nigeria who sat at the top before the easter holiday.
Market capitalization refers to how much a company is worth as determined by the stock market.
Checks by Legit.ng show that after trading on Tuesday, MTN's market capitalization stood at N4.88 trillion the highest among the 157 publicly traded companies on the Nigerian exchange.
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Dangote Cement follows behind with a market capitalization of N4.60 trillion to sit at the second position.
Airtel which pre-Easter was number one dropped to third due to poor performance of its share price which reduced the telcom company value to N4.50 trillion from N5 trillion.
List of 10 most valuable companies after Q1, 2023
Here is a list of the most valuable market capitalization based on data tracked from the Nigerian Exchange (NGX) after March 30, 2023.
It is important to note that the values listed may change depending on the daily stock performance of the companies.
- MTN Nigeria - N4.88 trillion
- Dangote Cement - N4.6 trillion
- Airtel Africa - N4.50 trillion
- BUA Cement - N3.31 trillion
- BUA Foods - N1.83 trillion
- Nestle Nigeria - N856.30 billion
- Zenith Bank - N800.6 billion
- Geregu Power - N807.5 billion
- Guaranty Trust Holdings - N715.1 billion
- Seplat Petroleum - N676.71 billion
List of Nigeria's most valuable banks after Q1, 2023
In another report, the Nigerian banks with the highest market capitalization for the first quarter of 2023 have been unveiled.
Zenith Bank and GT Bank retained their positions as the most highly valued commercial banks in the Nigerian market, which they held at the beginning of the year.
However, First Bank experienced a decrease in its market value during the same period.