Here are 10 oldest listed Nigerian companies on NGX

The Nigerian Exchange is home to roughly 150 listed companies and has grown into one of Africa’s most prominent stock exchanges. Yet among its hundreds of listed names today, a handful stand out for a history that stretches back to pre-independence Nigeria, having lived through the Nigerian Civil War and decades of change since.

These pioneering companies have weathered economic turbulence, currency devaluation, and oil booms and busts, and still remain listed, in many cases, still profitable today.

From construction giants that built the country’s earliest landmarks to trading and manufacturing companies that shaped its industrial base, this piece looks at the 10 oldest companies still actively trading on the Nigerian Exchange based on the date they were incorporated on the stock exchange.

Royal Exchange plc – 1921

Royal Exchange’s roots trace back to 1918, when the British firm Royal Exchange Assurance first established a branch in Nigeria. It was formally incorporated locally on February 28, 1921, making it one of the earliest financial institutions to take root in the country.

For over two decades, it stood as the only insurance company operating in Nigeria, effectively laying the foundation for what would become the country’s entire insurance industry. The company was later re-incorporated as Royal Exchange Assurance Limited in 1969, before going public and listing on the Nigerian stock exchange on December 3, 1990.

In July 2008, it rebranded as Royal Exchange Plc, marking its transition into a broader financial services institution. Today, its core operations span financial services, asset management, and life insurance.

In its most recent Q1 2026 unaudited financials, the group posted revenue of N96.7 million but recorded an after-tax loss of N33.4 million. The company currently holds a market capitalisation of N11.4 billion, with shares trading at N1.38. Royal Exchange is led by Idu Okeahialam, its Managing Director and CEO.

Unilever Nigeria Plc – 1923

Unilever Nigeria Plc was established in 1923 as a soap manufacturing company under the name Lever Brothers West Africa, making it the longest-serving manufacturing organisation in Nigeria.

The company later expanded into food and laundry products, introducing the now-iconic Omo detergent brand in 1960. It became a publicly traded company on the Nigerian Stock Exchange on April 1, 1973, and subsequently renamed itself Unilever Nigeria Plc in 2001. In 2023, the company marked a landmark 100 years in operation, cementing its place as Nigeria’s longest-serving manufacturer.

Today, Unilever Nigeria operates across three core segments — Foods, Beauty & Wellbeing, and Personal Care, producing household names such as Knorr, Close-Up, and Rexona.

Financially, the company has maintained a strong trajectory, posting a profit after tax of N8.5 billion on revenue of N60.5 billion in the released 2026 half-year financials. Unilever Nigeria currently holds a market capitalisation of N789.94 billion, with shares trading at N137.50. Tobi Adeniyi, the managing director, leads the company.

UACN Plc – 1931

UAC of Nigeria Plc is one of the country’s oldest companies, with roots dating back to 1879, when it began as a trading company formed from the merger of four trading firms operating along the River Niger.

It was first incorporated in Nigeria under the name Nigerian Motors Ltd. on April 22, 1931, as a wholly owned subsidiary of United Africa Company Ltd, before adopting the name United Africa Company in 1943. The company later took on its present name, UAC of Nigeria, after becoming a publicly traded company in 1991.

Today, as a diversified conglomerate, UACN operates across multiple sectors: consumer goods, real estate, and logistics — while also holding notable positions as the producer of the iconic Gala sausage roll, owner of Mr Bigg’s, and a substantial stakeholder in Livestock Feeds and Portland Paints Nigeria.

Financially, the company remains on a solid footing, posting a profit after tax of N13.6 billion on revenue of N191.2 billion in the first quarter of 2026. UACN currently holds a market capitalisation of N538.41 billion, with shares trading at N184. The company is led by Folasope Aiyesimoju, the Group Managing Director.

May & Baker – 1944

May & Baker (West Africa) Limited was established on September 4, 1944, as Nigeria’s first pharmaceutical company, originally serving as a trading outpost for the West Coast of Africa.

The company initially imported drugs from its British parent before opening its own factory in 1976, marking the start of local pharmaceutical manufacturing in Nigeria. It went on to become a publicly traded company following its listing on the Nigerian stock exchange in 1994. Three years later, in 1997, May & Baker appointed its first indigenous managing director/CEO, Joseph Ikemefuna Odumodu.

Today, the company manufactures and distributes human pharmaceuticals, vaccines, and consumer products, operating across pharmaceuticals and beverages segments, with notable products including paracetamol and its Smartans sanitiser range.

In its most recent financials, May & Baker posted revenue of N8.4 billion and a net profit of N1.2 billion in the first quarter of 2026. The pharmaceutical giant currently holds a market capitalisation of N68.92 billion, with shares trading at N39.95. May & Baker is led by Patrick Ajah, the company’s MD/CEO.

Wema Bank – 1945

Wema Bank was established on May 2, 1945, as a private limited liability company under the name Agbonmagbe Bank, founded by the late Chief Mathew Adekoya Okupe. He set up the bank’s first branches in Ebute-Metta, Sagamu, Abeokuta, and Ijebu-Igbo, and it remained under his ownership until it was taken over by the Western Nigeria Marketing Board.

The bank was renamed Wema Bank Limited in 1969, the same year it was granted a commercial banking licence and commenced full banking operations. Since then, it has gone on to become Nigeria’s longest-surviving indigenous bank.

Wema Bank converted to a public limited liability company in 1987 and was listed on the Nigerian Stock Exchange in 1990. It later made history as the first fully digital bank in Nigeria, combining both physical and digital banking to serve its customers. Today, the bank provides retail, commercial, and corporate banking services to individuals and businesses across the country.

Financially, Wema Bank posted a profit for the year of N63.1 billion, with total revenue reaching N179.9 billion in the first quarter of 2026. The bank currently holds a market capitalisation of N1.28 trillion, with shares trading at N31. Wema Bank is led by Moruf Oseni, the bank’s CEO.

PZ Cussons Nigeria Plc – 1948

PZ Cussons Nigeria Plc is one of Nigeria’s oldest and most diversified consumer goods companies, with a presence spanning over six decades. It operates as a subsidiary of PZ Cussons Holdings, the British multinational whose origins trace back to 1884, when it was established in Sierra Leone as a trading business.

The company was originally incorporated in Nigeria on December 4, 1948, first operating under the name P.B. Nicholls & Company Limited. It went through a series of name changes over the years — including Alagbon Industries Limited- before formally entering the Nigerian market under its parent brand in 1957, cementing operations that would go on to become central to PZ Cussons’ global footprint.

In 1972, the company became publicly listed on the Nigerian Stock Exchange, further embedding itself into the country’s corporate and economic fabric. It later adopted its current name, PZ Cussons Nigeria Plc, in September 2006.

Today, the company operates across several key categories — personal care, home care, nutrition, and electrical appliances, serving millions of Nigerian households through a portfolio of trusted brands including Imperial Leather, Carex, Cussons Baby, Joy, Morning Fresh, and Premier soap.

Financially, PZ Cussons had a standout year, posting a profit after tax of N49.1 billion on revenue of N260.4 billion for the year ended May 31, 2026. The company currently holds a market capitalisation of N337.29 billion, with shares trading at N84.95. Leadership is steered by Oghale Elueni, the chief executive officer.

Nigerian Breweries Plc – 1946

Nigerian Breweries Plc, the pioneer and largest brewing company in Nigeria, was incorporated on November 16, 1946, under the name Nigerian Brewery Limited and recorded a landmark moment in June 1949 when the first bottle of Star Lager rolled off its Lagos Brewing Bottling Company. The name was changed to Nigerian Brewery Limited in January 1957, and then Nigerian Breweries Plc in 1990 and it was listed on the stock exchange in 1973. The company is a subsidiary of Heineken N.V. of the Netherlands, which holds about 72.90 percent interest in its equity as at December 2025.

Some of its iconic products include Heineken, Gulder, Goldberg, and Maltina. The company reported a profit after tax of N55.95 billion, an 8% revenue increase to N413.02 billion, and a major shift into a net cash position of N76.2 billion.

Chellarams plc – 1947

Chellarams began operations in 1923 and was formally incorporated on August 13, 1947, as a private limited liability company. It later transitioned into a public limited liability company and was admitted to the Nigerian Stock Exchange on November 29, 1974, before becoming officially listed in 1978.

The company’s trading operations are structured across two core divisions—industrial raw materials and consumer products. Its current portfolio spans industrial chemicals, machinery, ingredients for food manufacturers, frozen foods, bicycles, and electronics.

Chellarams Plc operates through three subsidiaries—Chelltek Industries Ltd, Dynamic Industries Ltd, and United Technical & Allied Services Ltd — alongside joint venture partnerships with American Express Travel Services, Devyani International (Nig) Ltd, Isolo Power Gen Ltd, and Woolworths Retail Stores Ltd.

Under the leadership of CEO Aditya Suresh Chellaram, the company recorded a successful financial year, posting revenue of N25.9 billion and a net profit of N281.8 million. Chellarams currently holds a market capitalisation of N9.54 billion, with shares trading at N13.20.

NCR NIGERIA PLC – 1949

NCR (Nigeria) Plc, the country’s oldest multinational ICT firm, was incorporated on December 9, 1949, as National Cash Register Company (West Africa) Limited, initially distributing mechanical cash registers and early computing devices.

The company was listed on the Nigerian Stock Exchange in 1979, becoming the first multinational ICT company quoted in the country. It went on to pioneer Nigeria’s tech industry by introducing the country’s first automated teller machine (ATM) in 1989, before undergoing several name changes—including a brief spell as AT&T Global Information Solutions (Nigeria) Plc in 1994 — and officially adopting its current name on July 16, 1996.

Today, the company operates as a subsidiary of NCR Atleos Corporation, running central warehouses in Lagos, Abuja, and Port Harcourt, alongside nine regional stocking centres nationwide. It provides technology, hardware such as ATMs and POS systems, and software maintenance services across sectors, including financial services, retail, and hospitality.

In its Q1 2026 results, NCR (Nigeria) Plc posted a profit after tax of N111 million on revenue of N614 million. The company currently holds a market capitalisation of N17.4 billion, with shares trading at N161.20. NCR (Nigeria) Plc is led by Chukwueke Onyekachi Caleb, the chief executive officer.

Guinness Nigeria Plc – 1950

Guinness Nigeria, one of the country’s oldest beverage and alcohol companies, was founded in 1950 as a trading company importing Guinness Stout from Dublin before building the first Guinness brewery outside Ireland and Great Britain in Nigeria in 1963. The company was listed on the Nigerian Stock Exchange in 1965 and expanded rapidly, building breweries in Benin (1974, 1978), Ogba, Lagos (1982), and Aba (2004), while also investing in local maize and sorghum farming from 1986 to reduce reliance on imported barley.

In 1997, Guinness Nigeria became a subsidiary of Diageo Plc, gaining access to its global brand portfolio and technical expertise — a relationship that lasted until 2024, when Diageo sold its shareholding to Tolaram.

Today, Guinness produces and markets a diverse portfolio of alcoholic and non-alcoholic beverages. Its core operations include brewing the iconic Guinness Foreign Extra Stout and Guinness Smooth, alongside manufacturing popular brands like Malta Guinness, Smirnoff Ice, and Orijin. The company also hosts major consumer promotions and continues to drive local investment across Nigeria.

Financially, Guinness Nigeria posted revenue of N142.2 billion and a profit of N14.9 billion. The company currently holds a market capitalisation of N727.2 billion, with shares trading at N332. Guinness Nigeria is led by Girish Sharma, the managing director.