The Nigerian stock market has reached a major milestone, listing 17 companies valued at over US $1 billion its highest number ever. Up from 11 at the end of 2024, this marks a 55% increase in just seven months.
Key Companies in the Billion-Dollar Club
Telecoms: Airtel Africa, MTN Nigeria
Banking: GTCO, Access Holdings, Zenith Bank, UBA
Manufacturing & Cement: Dangote Cement, BUA Cement, BUA Foods, Lafarge Africa
Energy & Utilities: Seplat Energy, Geregu Power, Transcorp Power, Aradel Holdings
Consumer & Agriculture: Nigerian Breweries, International Breweries, Presco
What’s Fueling the Surge?
Strong earnings and investor inflows
Successful capital raises by banks
Resilient sectors like telecoms, cement, and energy
Continued rally in the All-Share Index, now over 141,000 points
Market capitalization reaching ₦89 trillion (~$140 billion)
Why It Matters
The growing list of billion-dollar firms reflects rising investor confidence and positions Nigeria’s capital market as a leading force in Africa. Analysts expect further growth if reforms and liquidity trends continue.