• Thursday, May 23, 2024
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Dangote, Indorama, FirstBank, Arik Air in top ten list of Top 100 Companies in Nigeria


Considering their huge investment portfolio in the Nigerian economy, high level of employment creation, revenues to government, corporate social responsibility (CSR) and contributions to the nation’s Gross Domestic Product (GDP), ten companies have emerged in the top ten list of the Top 100 Companies in Nigeria.

These include Dangote Group, Indorama Eleme Petrochemicals, First Bank Group, MTN, Nigeria Breweries, UAC Plc, Julius Berger, Arik Air, among others.

A source close to the selection committee chaired by Jim Obazee, the chief executive officer, Financial Reporting Council of Nigeria, said that the top ten list companies are the leading players in the strategic sectors of the Nigerian economy namely oil and gas, manufacturing, petrochemicals, telecommunications, construction, banking, food and beverages, aviation, agriculture, IT infrastructure, etc.

“The leading players have made tremendous contributions to the Nigerian economy in spite of all odds”, the source said. “There will be a video presentation of the leading companies during the awards ceremony”, our source further said, adding “it’s still top secret”.

Last Monday, Obazee announced that his committee deployed international benchmark as set by the International Integrated Reporting Council in choosing the Top 100 Companies in Nigeria. The companies would receive award from the Federal Government at a dinner to be hosted on December 1, 2014 by President Goodluck Jonathan in State House, Abuja.

Jim Obazee

Although the full list of the companies is not yet published, it was gathered that well-known companies and not so known firms are on the list.

READ ALSO: Dangote sugar made more profit in 9M’20 than it did in whole of 2019

Apart from the key players, other companies said to be on the list include Shell Petroleum, Globacom, UBA, Zenith Bank, Elizade Industries, Nestle Foods, Chi Group, Dophin Foods, APN Terminal, Intels, etc.

Obazee had told journalists, “In our assessment of the top 100, we looked at the taxes paid over a period of time and that is why the Federal Inland Revenue Service (FIRS) is on the board. We also looked at the employment they are generating and have generated. We looked at the level of investment they have in Nigeria and then their contributions in terms of social responsibility. We wanted to see what they have on ground and we are also interested in how what they
have on ground is of value in terms of the amount they spent.”

He said what the celebration portends to Nigeria was that the government of the day was finding a way to bring home to the citizens what value to be placed on non-financial information of the companies.

Obazee said there are so many financial commitments companies make to host countries in order to register their presence in such countries. This, he said, also draws other investors into the same environment and the business climate of such country begins to improve. This, he said, has been the lot of Nigeria in recent time.

Olusegun Aganga, minister of trade and investment, who unveiled the Top 100 Companies Award last week, said the initiative is to encourage companies to do more and to celebrate the industrialisation focus of the Jonathan administration.