₦airaland Forum

…debunks Business Insider story


MoneyCentral has been able to identify 12 Nigeria listed companies on the stock exchange (NGX) worth a billion dollar or more in market capitalization.

The firms are diverse and cut across various sectors including: Telecommunications, Industrial Goods, Oil and Gas, Banking and Finance, Consumer Goods and Energy.

The firms with listing on the stock exchange in Lagos Nigeria have market capitalization as at 15th May 2025 of: Airtel Africa with market capitalization of $4.93 billion (N7.9 trillion), Dangote Cement $4.64 billion (N7.42 trillion), BUA Foods $4.23 billion (N6.77 trillion), MTN Nigeria $3.64 billion (N5.83 trillion), Seplat Energy $2.05 billion (N3.289 trillion), Geregu Power $1.78 billion (N2.854 trillion).

Others Nigeria billion dollar companies are: BUA Cement $1.72 billion (N2.753 trillion), Transcorp Power $1.54 billon (N2.464 trillion), Guaranty Trust Holding Company GTCO $1.45 billion (N2.32 trillion), Aradel $1.3 billion (N2.08 trillion), Zenith Bank $1.24 billion (N1.992 trillion) and Nigerian Breweries $1.065 billion (N1.704 trillion).


An exchange rate of USD1 to NGN1,600 was used for the conversion from naira to dollar (see chart below).

https://moneycentral.com.ng//wp-content/uploads/2025/05/NGX-Billions.png

Misleading report debunked


An earlier report by Business Insider Africa had erroneously stated that there was only one Nigerian company valued at $1 billion.

The report quoting Visual Capitalist, said there are 5,522 publicly listed firms globally valued at $1 billion or more.

“The United States leads with a market capitalization of $60.1 trillion and accounts for 1,873 billion-dollar companies—commanding 49% of the global market share,” it said.

The report however conflates private companies (Unicorns) with public ones when it came to Africa.

Even at that Nigeria is known to have several Unicorns (private companies worth $1bn or more) including Flutterwave, Paystack, Interswitch and MoniePoint among others.

The Nigeria Stock Exchange (NGX) has an equity market capitalization of $41.9 billion and has risen 5.96% year-to-date.

https://moneycentral.com.ng/companies/article/these-12-nigeria-listed-companies-are-worth-a-billion-dollars-or-more/

https://moneycentral.com.ng//wp-content/uploads/2023/08/NGX.jpg

I've been wondering as well if such report is true. Thanks op for this clarification 👍🫡

But youbwont know

I wonder o. So much lies and propaganda on the economic situation in Nigeria in recent times.

Na statics we dey chop las las

The previous news was all a propaganda.

H

Add Opueh Industry to The List

The list is incomplete without nairaland

Moniepoint IPO will be lite! 😁

God bless Nigeria.

U see
Half education IS A PROBLEM

Unicorns ARE NOT listed companies
So business insider to a degree is NOT wrong within that framework

That article focused on unicorns! I bet most Nigerians don't know what that means.

A unicorn is a relatively new company driven by technology that is worth $1 billions.

Nigeria has 4 unicorns - Andela, OPay, Interswitch and Flutterwave.

Yes, there's nothing wrong with the article. The writer just didn't explain it properly.

This is under a seriously undervalued currency regime.

Things will get better for NIgeriua in our time

Zenith my bank. Please keep my 200 million with you. I need an to buy lambo

Racoon:
I wonder o. So much lies and propaganda on the economic situation in Nigeria in recent times.

that's because no be statistics we go chop... according to one politician like that during his election campaign

Ok

Dangote Refinery is not stated

Okay

Antoeni:
Add Opueh Industry to The List

Reno Omokri is that you

Wealth concentrated in the hands of few people.
But the wealth refused to trickle down for the benefits of the common man.

Interesting

hmm

So Avsex Bank isn't even there with all their acquisitions all over Africa

Elon Musk sneeze will buy all of them and use for farming

people are already saying that nairaland should be listed

Ok

Where u no fit submit cv😌

I told people Gtb was the biggest bank in Nigeria.

Very few branches compared to first bank, Zenith, Access, and UBA, but still makes more profit, pound for pound.

The few people that threatened to close their accounts because a man was arrested the other day would make zero difference to GTB bottom line.

GTB - a very decent bank.