BUA Foods Dethrones Dangote Cement as NGX’s Most Valuable Company: Full List of N1 Trillion Giants
- The Nigerian stock market has produced a new king, who now dominates the NGX, leading to the rise in the bourse's all-share index
- Last week, a Nigerian billionaire’s food company emerged as the most valuable company on the NGX
- The conglomerate dethroned Dangote Cement and MTN Nigeria, which were the leaders of the N1 trillion market cap club
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Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
BUA Foods Plc has claimed the top spot on the Nigerian Exchange (NGX) with a market valuation of ₦10.348 trillion, following a strong second-quarter earnings performance.
Source: Getty Images
This marks a major shift in the NGX hierarchy, pushing telecommunications giant MTN Nigeria and former leader Dangote Cement into second and third place.
MTN and Dangote Cement follow closely
MTN Nigeria now holds a market value of ₦9.66 trillion, slipping from the lead despite maintaining strong investor confidence.
Dangote Cement, worth ₦9.736 trillion, dropped in rankings partly due to its share buyback programme, which reduced the number of shares in circulation.
Telecoms and cement heavyweights stay dominant
Airtel Africa remains a formidable player despite recent price slides, valued at ₦8.683 trillion.
BUA Cement Plc, riding on an earnings recovery, is now worth ₦5.709 trillion, securing its place as the second-largest cement producer in market valuation terms.
Lafarge Africa, the third cement giant, stands at ₦2.343 trillion.
Banks muscle into the trillion-naira club
The financial sector is making strong moves, with GTCO valued at ₦3.642 trillion and Zenith Bank at ₦3.065 trillion.
UBA comes in at ₦1.994 trillion, while Access Holdings and First Holdco trail at ₦1.44 trillion and ₦1.38 trillion, respectively.
Fidelity Bank joins the elite group at ₦1.059 trillion despite recent legal setbacks.
Power and energy players rise
Geregu Power Plc, backed by Femi Otedola, is worth ₦2.85 trillion, while Transcorp Power stands at ₦2.16 trillion.
Market Forces Africa reported that oil-linked stocks such as Aradel Holdings (₦2.259 trillion) and Presco Plc (₦1.48 trillion) have benefited from strong fundamentals and rising investor interest.
Okomu Oil rounds out the list at exactly ₦1 trillion.
Consumer goods and hospitality in the mix
Nestle Nigeria’s ₦1.5 trillion valuation reflects a partial recovery from past earnings declines.
Nigerian Breweries and International Breweries, valued at ₦2.308 trillion and ₦2.26 trillion respectively, remain competitive despite recent sales pressures.
Source: Getty Images
Transcorp Hotels, at ₦1.685 trillion, continues steady trading following positive post-earnings moves.
The full list signals market confidence
The fact that 21 companies now boast valuations above ₦1 trillion highlights the resilience of Nigeria’s capital market. From cement and telecoms to banking, energy, and consumer goods, the NGX is seeing broad-based growth.
For investors, the trillion-naira club is more than a milestone—it’s a sign of deepening market maturity and sectoral strength.
Clement Anyaele, a stockbroker in Lagos, disclosed that the NGX, apart from becoming one of the biggest in Africa, is seeing renewed confidence from the investing public.
“Before last week, banking stocks dominated the NGX as the recapitalisation target of the Central Bank of Nigeria (CBN) drove most banks to raise more capital.
However, the table seems to be turning, and we are seeing new bulls emerging, especially in the food segment. This is a good omen and signals strong confidence in the economy,” he said.
Top 10 dividend-paying banks in Nigeria
Legit.ng earlier reported that for years, Nigerian banks have been a goldmine for investors looking for steady dividend income.
Strong profitability, a robust customer base, and a relatively stable regulatory environment have enabled them to reward shareholders generously year after year.
But now, the Central Bank of Nigeria (CBN) has thrown in a curveball—an aggressive recapitalisation drive that’s set to reshape the sector and test dividend policies like never before.
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Source: Legit.ng
