List of largest companies in Nigeria

This list comprises the largest companies in Nigeria by revenue and market capitalization as of 2024, according to the ranking of the largest 500 companies in Africa by Jeune Afrique and African Business. Around 30 of the largest 500 companies in Africa by revenue are based in Nigeria.

By revenue

Below are the 25 largest companies (excluding banks) by revenue in 2022 (mostly for fiscal year 2021).[1]

Rank Company Industry Revenue
(US$ millions) 		Profits
(US$ millions)
1 Nigeria National Petroleum Oil and gas 9,706 1,877
2 Nigeria Liquefied Natural Gas Oil and gas 6,315 ...
3 MTN Nigeria Telecommunications 3,514 536
4 Dangote Cement Cement 2,699 721
5 Nigerian Petroleum Development Oil and gas 2,686 219
6 Flour Mills of Nigeria Agroindustry 2,014 67
7 Airtel Nigeria Telecommunications 1,503 343
8 Nigerian Breweries Agroindustry 890 19
9 Jumia Retail 837 ...
10 Nestle Nigeria Agroindustry 749 102
11 Krystal Digital Network Solutions Infotech 678 21
12 Julius Berger Construction 631 3
13 Nigerian Bottling Company Agroindustry 627 ...
14 Lafarge Africa Cement 602 97
15 Dangote Sugar Refinery Agroindustry 559 78
16 BUA Cement Cement 547 184
17 TotalEnergies Nigeria Oil and gas 534 5
18 Seplat Petroleum Development Oil and gas 498 −80
19 Ardova Plc Oil and gas 474 5
20 11PLC Oil and gas 428 16
21 International Breweries plc Agroindustry 357 −32
22 Conoil Oil and gas 307 ...
23 Honeywell Flour Mill Agroindustry 286 3
24 PZ Cussons Nigeria Consumer goods 216 4
25 UAC of Nigeria Conglomerate 213 11

By market cap

Below are the 20 largest companies by market cap in 2022.[2]

Rank Company Industry Market cap
(US$ millions)
1 Dangote Cement Cement 11,203
2 MTN Nigeria Telecommunications 10,471
3 Airtel Nigeria Telecommunications 6,903
4 BUA Cement Cement 5,759
5 Nestle Nigeria Agroindustry 2,658
6 BUA Foods Agroindustry 2,575
7 Zenith Bank Banking 1,691
8 Guaranty Trust Holding Company PLC Finance 1,585
9 First Bank of Nigeria Banking 1,070
10 Stanbic IBTC Holdings Finance 1,064
11 Lafarge Africa Cement 918
12 Access Holdings Finance 833
13 Nigerian Breweries Agroindustry 890
14 United Bank for Africa Finance 633
15 Ecobank Banking 529
16 Dangote Sugar Refinery Agroindustry 467
17 Union Bank of Nigeria Banking 431
18 Guinness Nigeria Consumer goods 375
19 Okomu Oil Palm Agroindustry 343
20 Presco PLC Agroindustry 320

See also

References

  1. ^ "Classement 2022 des 500 premières entreprises africaines : le palmarès complet - Jeune Afrique.com". JeuneAfrique.com (in French). Retrieved 2024-01-28.
  2. ^ "Africa's Top 250 Companies, 2022". African Business. 2022-05-09. Retrieved 2024-01-28.