10 Most Indispensable Companies in Nigeria by Market Capitalization
Market capitalization is a straightforward advance to measure a firm’s price on the stock market. It’s calculated by multiplying the price of one fragment by the total sequence of shares a firm has.
This opt provides us an concept of the firm’s price. As of the quit of the third quarter (Q3) in 2024, Nigeria’s stock market saw some notable adjustments, and various different companies stood out because the most dear in accordance with their market capitalization.
These ten companies collectively signify round 75% of your total Nigerian stock market, with a blended market capitalization of N42.33 trillion. Despite some united statesand downs in stock costs, these companies stay key gamers in their industries, contributing deal to the nation’s economic system. Let’s rob a explore at the tip companies in Nigeria and their performances.
Dangote Cement (N9.07 trillion)
At the tip of the checklist is Dangote Cement, Nigeria’s most costly firm by market capitalization, price N9.07 trillion. This big represents 16% of your total stock market in Nigeria. Despite being the most dear firm, Dangote Cement’s fragment tag dropped by 19% right thru the quarter, exhibiting some fluctuation in its stock efficiency.
Airtel Africa (N8.27 trillion)
In second build is Airtel Africa, a leading telecommunications firm with a market capitalization of N8.27 trillion. Airtel Africa accounts for 15% of Nigeria’s equity market and saw its stock tag amplify by 5% in Q3 2024. The firm surpassed MTN Nigeria to rob this position, solidifying its position in the ICT sector.
BUA Meals (N7.11 trillion)
BUA Meals, from the Person Items sector, holds the third position with a market capitalization of N7.11 trillion, which is set 13% of the total market. BUA Meals is the glorious firm from this sector in the tip ten, making it a solid participant in Nigeria’s economic system.
MTN Nigeria (N4.01 trillion)
MTN Nigeria, one other ICT big, ranks fourth with a market capitalization of N4.01 trillion, accounting for 7% of the market. Nonetheless, MTN saw a decline in its stock tag following its plump-one year 2023 recount, with a 11% tumble right thru the third quarter.
BUA Cement (N3.72 trillion)
In fifth build is BUA Cement, one other key participant in the Industrial Items sector, valued at N3.72 trillion. BUA Cement represents 7% of the total stock market. Though it maintained its position one year-on-one year, the firm’s stock tag fell by 23% right thru the quarter.
Geregu Vitality (N2.88 trillion)
Geregu Vitality secured the sixth position with a market capitalization of N2.88 trillion, accounting for five% of the market. Geregu Vitality’s stock tag saw a notable rise, appreciating by 15%, which helped the firm transfer up from tenth build in Q3 2023.
Seplat Energy (N2.41 trillion)
Main the Oil & Fuel sector, Seplat Energy is available in seventh with a market capitalization of N2.41 trillion, contributing 7% to the total market. The firm skilled an 8% rise in its stock tag, making it one in every of the tip performers in the energy sector.
Transcorp Vitality (N2.26 trillion)
Transcorp Vitality, listed on the stock alternate in 2023, ranks eighth with a market capitalization of N2.26 trillion, which is 4% of the market. Despite declaring its position, the firm’s stock tag declined by 19% right thru the quarter.
Guaranty Belief Preserving Firm (N1.41 trillion)
Guaranty Belief Preserving Firm (GT Preserving) is the ninth most costly firm in Nigeria, with a market capitalization of N1.41 trillion, representing 2.5% of the total market. GT Preserving’s stock tag most original by 7%, showcasing its strength in the banking sector.
Zenith Bank (N1.19 trillion)
Rounding out the tip ten is Zenith Bank, with a market capitalization of N1.19 trillion. This leading Nigerian bank accounts for 2% of the market and saw a 6% rise in its stock tag right thru the quarter, extra strengthening its position in the banking industry.