Market News

NIGERIA’S stock market has crossed a new threshold as 22 listed companies on the Nigerian Exchange Group (NGX) now command market capitalisations above N1 trillion each, with their combined value topping N70 trillion.

This elite “Trillion Naira Club” reflects growing investor confidence and the deepening strength of the nation’s economy, cutting across telecoms, consumer goods, banking, cement, energy, agriculture, and hospitality, showcasing the market’s resilience and diversity despite inflation and currency pressures.

Leading the pack is BUA Foods at N10.62 trillion, followed closely by telecom giants MTN Nigeria (N9.13 trillion) and Airtel Africa (N8.68 trillion), which jointly account for nearly N18 trillion on the back of mobile money, internet growth, and 5G rollout.

In the industrial sector, Dangote Cement (N8.77 trillion), BUA Cement (N5.14 trillion), and Lafarge Africa (N2.16 trillion) remain dominant players, fueling infrastructure and housing development.

Banking contributes significantly, with GTCO (N3.46 trillion), Zenith Bank (N2.87 trillion), and UBA (N2.03 trillion) among seven financial institutions above the trillion mark, benefiting from recapitalization reforms and investor confidence.

Energy and utilities are also on the rise, led by Seplat Energy (N3.23 trillion), Geregu Power (N2.85 trillion), and Aradel Holdings (N2.22 trillion), while Transcorp Power (N2.15 trillion) underscores growth in electricity reforms.

Fast-moving consumer goods (N16.49 trillion total) continue to attract investor interest, with International Breweries, Nigerian Breweries, and Nestle Nigeria standing firm despite high costs. Agriculture (Presco Plc, N1.48 trillion) and hospitality (Transcorp Hotels, N1.69 trillion) add further breadth to the market.

Overall sectoral strength shows telecoms (N17.8 trillion) now rival cement (N16.1 trillion) as the NGX’s most valuable industry, followed by consumer goods (N16.5 trillion) and banking (N14.8 trillion).

Analysts say the growth of the Trillion Naira Club signals a maturing capital market.

“The diversity of trillion-naira firms shows that opportunities are no longer confined to cement and banking,” noted research firm Statisense.

With Nigeria’s GDP increasingly driven by trade, telecoms, and agriculture, the N70 trillion club of NGX giants is redefining the nation’s economic future.