₦airaland Forum

The Nigerian Exchange (NGX) has emerged as one of Africa’s best-performing markets in 2025, with the All-Share Index soaring by 37.25 percent year-to-date as of August 1.

This rally has unlocked a staggering N26.61 trillion in capital gains, pushing the total market capitalization from N62.76 trillion at the start of the year to N89.37 trillion. In dollar terms, the NGX has appreciated by $17.4 billion, rising from $41.84 billion to $58.4 billion.

Driving this remarkable surge is a wave of investor momentum that has propelled more Nigerian companies into the billion-dollar valuation club. At the end of 2024, only 10 companies listed on the NGX had a market capitalization of $1 billion or more. As of August 1, that number has nearly doubled to 18.

The exchange rate used for August 1 was N1,530/$, while the rate at the start of 2025 was N1,500/$. Below is a list of companies that have crossed the $1 billion mark in market capitalisation.

1. MTN Nigeria – $6.6 billion

At the close of trading on August 1, MTN Nigeria surpassed the N10 trillion cap mark, after hitting a record-high share price of N480. Year-to-date, the stock has appreciated by 140 percent, moving from N4.2 trillion at the start of the year.

In USD terms, MTN started 2025 with a market cap of $2.8 billion.

2. Dangote Cement – $5.8 billion

Africa’s largest cement producer, Dangote Cement has a market cap of $5.8 billion as of August 1. The company has appreciated by 9 percent year-to-date, moving from N8.2 trillion to N8.9 trillion. In USD terms, the market cap moved from $5.4 billion to $5.8 billion in seven months.

3. BUA Foods – $5.7 billion

The largest consumer goods equity listed on the NGX, BUA Foods has a market cap of $5.7 billion as of August 1. In 2025, the company has appreciated by 16 percent, moving from N7.5 trillion to N8.7 trillion as of August 1.

The company’s capital gain has returned about $700 million to shareholders, as it started 2025 with a $5 billion market cap.

4. Airtel Africa – $5.7 billion

Airtel Africa has a market cap of $5.68 billion, slightly lower than BUA Foods’ $5.69 billion market cap. In 2025, Airtel Africa has appreciated 7 percent year-to-date, moving from N8.1 trillion to N8.7 trillion.

5. BUA Cement – $3.3 billion

BUA Cement, also owned by billionaire Abdulsamad Rabiu has a $3.3 billion market cap. In 2025, the stock has appreciated by 59 percent year-to-date, moving from N3.1 trillion to N5 trillion.

Abdulsamad Rabiu’s 96 percent stake in BUA Cement plus his 95 percent stake in BUA Foods are the major drivers of his $6.82 billion net worth.

6. GTCO Holdings – $2.4 billion

GTCO Holdings is the largest bank in Nigeria in terms of market capitalization, with a $2.4 billion valuation. However, the bank is smallest among its peers in terms of asset size.

In 2025, the group has appreciated by a whopping 119 percent, from N1.7 trillion to N3.6 trillion. And in USD terms, the stock has move from a market cap of $1.1 billion to $2.4 trillion during the year.

7. Seplat Energy – $2.1 billion

As of August 1, Seplat has a market cap of $2.1 billion, marking a marginal 3 percent decline from $2.2 billion at the start of the year. The company’s market cap dropped from N3.4 trillion at the start of the year to N3.3 trillion.

8. Zenith Bank – $2.1 billion

Zenith Bank has a market cap of $2.05 billion, below Seplat’s $2.14 billion. At the start of 2025, the bank had a market cap of $952 million, about N1.4 trillion. After appreciating by 120 percent in seven months, the market cap has hit N3.1 trillion.

9. Geregu Power – $1.9 billion

As of August 1, Geregu Power had a market cap of N2.85 trillion, about $1.9 billion. This represents a year-to-date decline of 1 percent, from N2.88 trillion at the start of the year. In USD, the stock had a market cap of $1.92 billion at the start of 2025.

10. Lafarge Africa – $1.6 billion

Cement maker, Lafarge Africa, joins Dangote and BUA on the list of cement makers valued over $1 billion. As of August 1, the company had a market cap of N2.4 trillion, marking a 113 percent year-to-date growth from the N1.1 trillion recorded at the start of 2025.

11. Transcorp Power – $1.6 billion

In 2025, Transcorp Power has posted a year-to-date decline of 11 percent to a market cap of N2.4 trillion, about $1.6 billion. At the start of 2025, the company had a market cap of N2.7 trillion.

12. Nigerian Breweries – $1.5 billion

Nigerian Breweries has a market cap of N2.35 trillion, or $1.54 billion. In 2025, the stock has appreciated by 138 percent, moving from a market cap of N991.5 billion, or $661 million at the start of the year.

13. International Breweries – $1.5 billion

International Breweries has a market cap of N2.3 trillion, or about $1.52 billion. The stock has appreciated by 149 percent year-to-date, from a market cap of N934 billion, or $623 million at the start of 2025.

14. Aradel Holdings – $1.5 billion

Upstream oil player, Aradel Holdings, has a market cap of N2.26 trillion, about $1.48 billion. At the start of 2025, the stock had a market cap of $1.73 billion, about N2.6 trillion. However, the stock has declined by 13 percent year-to-date, reflecting the broader downturn in oil and gas equities on the exchange.

15. UBA – $1.3 billion

United Bank for Africa (UBA) is the third largest bank in terms of market capitalization with a market cap of N2 trillion, or $1.3 trillion. In 2025, the company has appreciated by 74 percent, from a market cap of N1.16 trillion at the start of the year, or $775 million.

16. Stanbic IBTC Holdings – $1.05 billion

Following UBA closely is Stanbic IBTC Holdings, with a market cap of N1.6 trillion, or $1.05 billion. In 2025, the stock has appreciated by 115 percent year-to-date from N746.3 billion at the start of the year.

17. Presco – $1.01 billion

Palm oil giant, Presco Plc, appears on the list, cementing a stellar year for the company. With a market capitalization of N1.55 trillion, or $1.01 billion, the company has recorded a 226 percent year-to-date gain. At the start of 2025, the stock had a market cap of N475 billion, about $317 million.

18. Transcorp Hotels – $1 billion

Transcorp Hotels Plc is the only hospitality group on the list with a N1.53 trillion market cap, or about $1.003 billion. In 2025, the stock has recorded a 29 percent year-to-date gain, after beginning the year with a N1.2 trillion market cap, about $792 million.

Source: https://businessday.ng/companies/article/full-list-of-nigerian-companies-with-market-capitalization-above-1-billion/#google_vignette

Na #17 Presco shock me pass - a company making over a billion dollars by planting and processing palm oil! When I imagine how we can invest massively in palm oil and make billions of dollars from it yet everyone is running to Abuja to share $50 billion of petrodollars every year, I feel terrible about the kind of leaders we have. That's why I keep arguing that blacks are not fit for self-rule!

SmartPolician:
Na #17 Presco shock me pass - a company making over a billion dollars by investing in palm oil! When I imagine how we can invest massively in palm oil and make billions of dollars from it yet everyone is running to Abuja to share $50 billion of petrodollars every year, I feel terrible about the kind of leaders we have. That's why I keep arguing that blacks are not fit for self-rule!

Where is the location of the company.


How many more characters?

SmartPolician:
Na #17 Presco shock me pass - a company making over a billion dollars by investing in palm oil! When I imagine how we can invest massively in palm oil and make billions of dollars from it yet everyone is running to Abuja to share $50 billion of petrodollars every year, I feel terrible about the kind of leaders we have. That's why I keep arguing that blacks are not fit for self-rule!

This has nothing to do with the colour of skin. Everything must run it's course. This country is merely 65 years old. A country like England is over one thousand years old. Calm down.

Tony Elumelu





We see you




Why must I type 40 characters? I just want to type Tony Elumelu

I saw 2 breweries
So brewery is not really a waste after all.
In this life, pray make your enemies no be your own brother (s).

Wao. This is beautiful .






Can we trade Nigerian stocks online?

You mean that with the call from VDM family to cancel GTB, they still could not collapse it?

13. International Breweries – $1.5 billion

This is the Brewery Peter Obi invested Anambra state money that Soludo said it's worth next to nothing



Nigeria really need Peter Obi, God should have mercy on Nigeria and give us Peter Obi let's try him

Great100000:
Source: https://businessday.ng/companies/article/full-list-of-nigerian-companies-with-market-capitalization-above-1-billion/#google_vignette

These companies will soon join them;
Okomu
Cadbury
UACN,
Oando,
Betaglass,
Wema Bank,
NAHCO,
WAMCO and many yet to be listed companies

Our brothers from the east have gone quiet. See as them dey shift blame to soludo. I thought all multiple billionaires companies in Nigeria are owned by easterners?

Ndi We own lagos
Ndi We own Nigeria
Ndi we own abuja

/

Evidently, Nigeria is indeed a poor country!

One must admit.


/

Na we get Lagos sons and company no dey there. Na wa oh. All the threats of if we leave Lagos, Lagos is finished means what, content creation?

To educate the hypos, Soludo didn't say International Breweries is next to nothing. He said that the stake or share of investment of the state government in the Onitsha branch is worth next to nothing. This is because people mistakenly think it's Obi's company or Anambra State invention.

Also, Presco is owned by a Belgian company/group.
SABMiller (predecessor of International Breweries) made an initial investment of over US $100 million to build the greenfield brewery in Onitsha. In 2014, SABMiller invested a further US $110 million to expand capacity.Total investment by 2014: over US $210 million into the Onitsha brewery. Anambra State’s contribution to the Intafact Beverages Limited project (now part of International Breweries Plc) was approximately ₦2 billion—about US $12.6 million at the prevailing exchange rate—for a 10% equity stake in the brewery. Current value is about 4.7%.

SmartPolician:
Na #17 Presco shock me pass - a company making over a billion dollars by investing in palm oil! When I imagine how we can invest massively in palm oil and make billions of dollars from it yet everyone is running to Abuja to share $50 billion of petrodollars every year,

I feel terrible about the kind of leaders we have. That's why I keep arguing that blacks are not fit for self-rule!

Since the leaders looters are not imported and imposed foreigners, but rather they emerged from among us, those who understand what our issues are must work for the enlightenment of others until their own ideas dominate the society.

Oyinbos were formerly cave dwellers who were later ruled by absolute monarchy until they enlightened themselves for the masses to understand their own power as the owners of sovereignty in the theory of Social Contract.

No leader can exist without having followers! No leader can keep his job if he ultimately fails to do what the followers want to do.

anonimi:
“The worst illiterate is the political illiterate, he doesn’t hear, doesn’t speak, nor participates in the political events.

He doesn’t know the cost of life, the price of the bean, of the fish, of the flour, of the rent, of the shoes and of the medicine, all depends on political decisions. The political illiterate is so stupid that he is proud and swells his chest saying that he hates politics.

The slowpoke doesn’t know that, from his political ignorance is born the prostitute, the abandoned child, and the worst thieves of all, the bad politician, corrupted and flunky of the national and multinational companies.”

― Bertolt Brecht

Great100000:
Source: https://businessday.ng/companies/article/full-list-of-nigerian-companies-with-market-capitalization-above-1-billion/#google_vignette

Does this make any difference to the country’s worsening economic situation?

I think say na Alaba and Ladipo 4x4 meter shops go full the list. Na loud noise those ones sabi

SmartPolician:
Na #17 Presco shock me pass - a company making over a billion dollars by investing in palm oil! When I imagine how we can invest massively in palm oil and make billions of dollars from it yet everyone is running to Abuja to share $50 billion of petrodollars every year, I feel terrible about the kind of leaders we have. That's why I keep arguing that blacks are not fit for self-rule!

Not leaders, every body is entitled to invest. PRESCO is not owned by the leaders. Africa is not good investors globally.

InvertedHammer:
/

Evidently, Nigeria is indeed a poor country!

One must admit.

/

Unfortunately, our collective poverty has been worsened in the last decade by the progreThieves who share palliatives instead of creating jobs promised.

How did we allow ebilokan to scam us into buying his propaganda package of 2011 expired Buhari as the replacement for Jonathan four years later?

How do we get back the deregulation and privatisation capitalist prosperity of PDP’s 16 years with high employment productivity?

anonimi:
Neo-black Problem: Must Blacks Be Ruled by Whites in Order to Prosper?

In short, the neo-black dilemma may be framed as follows: is it better to live under white rule without political dignity but with basic life-sustaining standards for many;

or to live under black rule with illusory political dignity and without basic life- sustaining standards for the majority?
@
@
The path forward for Africa lies in cultivating higher and adequate levels of personal and communal agential integrity as well as full personal responsibility and productivity. Not to mention creativity (including epistemic creativity), productive justice (such as merit and freedom), harmony and reconciliation at local and international levels, and a proper domestication of capitalism and other related values and institutions.

Africa must stop wasting her time on dreams of socialism because it is a system of wealth distribution primarily. Whereas, capitalism is a system of wealth creation primarily, and wealth has to be produced before it can be distributed.

https://www.thisdaylive.com/index.php/2024/10/12/neo-black-problem-must-blacks-be-ruled-by-whites-in-order-to-prosper/

SmartPolician:
Na #17 Presco shock me pass - a company making over a billion dollars by investing in palm oil! When I imagine how we can invest massively in palm oil and make billions of dollars from it yet everyone is running to Abuja to share $50 billion of petrodollars every year, I feel terrible about the kind of leaders we have. That's why I keep arguing that blacks are not fit for self-rule!

Go and tell your state governor and stop wailing on this forum

franchasng:
13. International Breweries – $1.5 billion

This is the Brewery Peter Obi invested Anambra state money that Soludo said it's worth next to nothing


Nigeria really need Peter Obi, God should have mercy on Nigeria and give us Peter Obi let's try him

You deserve one Hero beer for this sarcastic post, which highlights how Obi was used to facilitate ebilokan’s continuity of APC shege two years ago, thanks to Wike.



https://www.thecable.ng/2023-pdp-and-politics-of-healing-wikes-self-inflicted-injury/amp

jameshankss:
Arguing that Obi’s presidential bid would only work in favour of Tinubu, Soludo said, “Indeed, if I were Asiwaju Tinubu, I would even give Peter Obi money as someone heading one of the departments of his campaign, because Obi is making Tinubu’s pathway to victory much easier by indirectly pulling down PDP.”

Obi, according to Soludo, would only deplete the votes of the Peoples Democratic Party (PDP) and pave the path for an APC victory.

He stated, “The current fleeting frenzy, if not checked, will cost Ndigbo dearly for years. The South-east has the lowest number of votes of any region, but it is also the only region where the presidential race might be a four-way race (it is a two-way race in the other five regions) thereby, ensuring that our votes won’t count in the making of the next president of Nigeria.

https://www.thisdaylive.com/index.php/2022/11/15/soludo-i-wont-succumb-to-bullies-obi-knows-he-cant-win/

franchasng:
13. International Breweries – $1.5 billion

This is the Brewery Peter Obi invested Anambra state money that Soludo said it's worth next to nothing



Nigeria really need Peter Obi, God should have mercy on Nigeria and give us Peter Obi let's try him

Olodo! This is not your messiah brewery o! Just chill bro

franchasng:
13. International Breweries – $1.5 billion

This is the Brewery Peter Obi invested Anambra state money that Soludo said it's worth next to nothing



Nigeria really need Peter Obi, God should have mercy on Nigeria and give us Peter Obi let's try him

The money Agulu Master invested has diminished in value.
So, it is a waste

Great100000:
Source: https://businessday.ng/companies/article/full-list-of-nigerian-companies-with-market-capitalization-above-1-billion/#google_vignette

So all this noise about being the biggest bank Access Bank no fit in not even first bank.

triple996:
Our brothers from the east have gone quiet. See as them dey shift blame to soludo. I thought all multiple billionaires companies in Nigeria are owned by easterners?

Ndi We own lagos
Ndi We own Nigeria
Ndi we own abuja

So Seplat, Elumelu’s companies about 4-5 of them no follow🤷🏿‍♂️

anonimi:
You deserve one Hero beer for this sarcastic post, which highlights how Obi was used to facilitate ebilokan’s continuity of APC shege two years ago, thanks to Wike.



https://www.thecable.ng/2023-pdp-and-politics-of-healing-wikes-self-inflicted-injury/amp

Carry your yẹyẹ hero beer commot here.

Only you and your b-lodas dey drink that beer.

DeepSight:
This has nothing to do with the colour of skin. Everything must run it's course. This country is merely 65 years old. A country like England is over one thousand years old. Calm down.

How old are Qatar and UAE? What of Singapore?

Were we not existing as diverse ethnic nations before British colonisation, amalgamation and independence in 1960?

How different was Oyo empire from the British empire in terms of monarchical democracy?

What do we gain from making excuses for our failures

OKKO:
I saw 2 breweries
So brewery is not really a waste after all.
In this life, pray make your enemies no be your own brother (s).

The list is full of food, telcos and banks.... No single tech.