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). RankCompanyIndustryRevenue(US$ millions)Profits(US$ millions)1Nigeria National PetroleumOil and gas9,7061,8772Nigeria Liquefied Natural GasOil and gas6,315...3MTN NigeriaTelecommunications3,5145364Dangote CementCement2,6997215Nigerian Petroleum DevelopmentOil and gas2,6862196Flour Mills of NigeriaAgroindustry2,014677Airtel NigeriaTelecommunications1,5033438Nigerian BreweriesAgroindustry890199JumiaRetail837...10Nestle NigeriaAgroindustry74910211Julius BergerConstruction631312Nigerian Bottling CompanyAgroindustry627...13Lafarge AfricaCement6029714Dangote Sugar RefineryAgroindustry5597815BUA CementCement54718416TotalEnergies NigeriaOil and gas534517Seplat Petroleum DevelopmentOil and gas498−8018Ardova PlcOil and gas47451911PLCOil and gas4281620International Breweries plcAgroindustry357−3221ConoilOil and gas307...22Honeywell Flour MillAgroindustry286323PZ Cussons NigeriaConsumer goods216424UAC of NigeriaConglomerate21311

By market cap

Below are the 20 largest companies listed on the Nigerian Exchange (NGX) by market capitalisation, based on NGX Pulse company data updated in May 2026. Nairametrics also published a May 2026 review of Nigeria’s most valuable listed companies, covering the April 2026 market-cap rankings.

+ Largest NGX-listed companies by market capitalisation (May 2026) Rank Company Ticker Industry Market cap (₦ trillions) Market cap (US$ millions, approx.) 1 Dangote Cement DANGCEM Industrial goods 19.91 14,221 2 BUA Foods BUAFOODS Consumer goods 17.41 12,436 3 MTN Nigeria MTNN Telecommunications / ICT 17.21 12,293 4 BUA Cement BUACEMENT Industrial goods 15.58 11,129 5 Airtel Africa AIRTELAFRI Telecommunications / ICT 12.49 8,921 6 Aradel Holdings ARADEL Oil and gas 7.98 5,700 7 Seplat Energy SEPLAT Oil and gas 6.89 4,921 8 Zenith Bank ZENITHBANK Financial services 5.42 3,871 9 Lafarge Africa WAPCO Industrial goods 5.40 3,857 10 Guaranty Trust Holding Company GTCO Financial services 5.33 3,807 11 First HoldCo FIRSTHOLDCO Financial services 3.20 2,286 12 Geregu Power GEREGU Utilities 2.83 2,021 13 Presco PRESCO Agriculture 2.68 1,914 14 Nigerian Breweries NB Consumer goods 2.66 1,900 15 Stanbic IBTC Holdings STANBIC Financial services 2.64 1,886 16 Nestlé Nigeria NESTLE Consumer goods 2.48 1,771 17 Ecobank Transnational Incorporated ETI Financial services 2.31 1,650 18 Transcorp Hotels TRANSCOHOT Services / hospitality 2.29 1,636 19 International Breweries INTBREW Consumer goods 2.19 1,564 20 Transcorp Power TRANSPOWER Utilities 2.05 1,464

See also

List of companies of Nigeria List of largest companies by revenue List of largest companies in Africa by revenue

References