Here are Nigeria's top seven trillionaire market cap companies

Despite double-digit inflation hinged on a challenging business environment, Dangote Cement, MTN Nigeria, and BUA Foods have earned their places in the listed companies’ trillion-naira market cap companies.

In the eight months to August, Nigeria’s equities market capitalisation garnered about N8.5trillion. The stock market, which saw sections of profit-taking and bargain hunting reached a 15-year high ahead of last month’s end.

BusinessDay analysis showed Dangote Cement earned the top spot on the list with N6.22 trillion market capitalisation, MTN Nigeria followed suit with N5.76 trillion market capitalisation and BUA Foods recorded N3.33 trillion market capitalisation.

BUA Cement recorded N3.26 trillion market capitalisation, Zenith Bank’s market capitalisation stood at N1.16 trillion, GTCO (N1.15 trillion), and Seplat Energy (N1.08 trillion).

Findings show that these firms are defying the odds by tightening their belts, and applying cost optimisation strategies and innovative solutions to navigate Nigeria’s weak macroeconomic environment and optimise the risk attached to it.

Here is a ranking analysis of Nigeria’s trillionaire-listed companies.

Dangote Cement

Dangote Cement’s market capitalisation stands at N6.22 trillion as of Friday. The firm’s share price amounted to N365 with a trading volume of 816,823 as of September 8, 2023.

The cement company’s revenue stood at N950.83 billion in H1 2023 from N808.04 billion in the same period of 2022.

Profit after tax stood at N178.6 billion in H1 2023 from N172.1 billion in the same period of 2022.

Earnings per share stood at N10.39 per share in the first half of 2023 from N10.10 per share in the same period of 2022.

Dangote Cement Plc is a Nigerian publicly traded multinational cement manufacturer headquartered in Lagos. The company is engaged in the manufacture, preparation, import, packaging, and distribution of cement and related products in Nigeria, and has plants or import terminals in nine other African countries.

MTN Nigeria

MTN Nigeria’s market capitalisation stands at N5.76 trillion as of Friday. The firm’s share price amounted to N274.5 with a trading volume of 684,817 as of September 8, 2023.

The telecommunication recorded gross earnings of N1.16 trillion in H1 2023 from N950.09 billion in the same period of 2022.

Profit after tax stood at N128.69 billion in H1 2023 from N181.63 billion in the similar period of 2022.

Earnings per share amounted to N6.33 per share from N8.95 per share in the comparable period.

MTN Group Limited is a South African multinational mobile telecommunications company, operating in many African and Asian countries. Its head office is in Johannesburg. As of December 2020, MTN recorded 280 million subscribers, making it the 7th largest mobile network operator in the world, and the largest in Africa.

BUA Foods

BUA Foods’ market capitalisation stands at N3.33 trillion as of Friday. The firm’s share price amounted to N185 with a trading volume of 13,028 as of September 8, 2023.

The consumer goods turnover stood at N320.93 billion in H1 2023 from N168.85 billion in the same period of 2022.

Net profit after tax grew to N95.2 billion in H1 2023 from N39.31 billion in the same period of 2022.

Earning per share stood at N5.29 per share from N2.18 per share in the comparable period.

BUA Foods is a food and fast-moving consumer goods business, which processes, manufactures, produces, and distributes food materials such as sugar, flour, pasta, rice, and edible oils as well as packaged foods. The Company’s products currently include fortified and non-fortified sugar, flour for large and small-scale use, and pasta.