• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

The most valuable companies in Nigeria as of December 2022

Inimfon Asifa by Inimfon Asifa
January 3, 2023
in Business News
Analysis: Airtel Nigeria is winning where it matters.

Airtel Africa CEO, Segun Ogunsanya

Share on FacebookShare on TwitterShare on Linkedin

As of December 2022, Airtel Africa retained the top position as the most valuable listed company in Nigeria, with Dangote Cement and MTN Nigeria occupying the second and third positions.

Although there are very valuable privately-owned companies with unicorn status in Nigeria, this article only focuses on companies listed on the Nigerian Exchange.

Nairametrics determines the valuations of listed companies using their market value which are publicly available. This is unlike the valuations of many privately-held companies which are often based on venture capital or private equity.

RelatedStories

Access Bank

Inside Access Bank’s N180 billion claims against MTN 

June 13, 2025
Tetracore and Dangote Cement boost partnership to expand CNG Autogas Network with commissioning of new mobile refueling units in Phase II rollout

Tetracore and Dangote Cement boost partnership to expand CNG Autogas Network with commissioning of new mobile refueling units in Phase II rollout

June 10, 2025

What the data is saying: The Nigerian equities market, represented by its All Share Index, ended December with a total market capitalization of about N27.9 trillion.

  • Nigeria’s top ten most valuable equities had a combined market valuation of N22.8 trillion or an equivalent of $49.4 billion, assuming the official exchange rate of (N461.5/$1).
  • Among them are 5 stocks worth over one trillion which Nairametrics refers to as SWOOTs.
  • Combined, the SWOOTs are worth about N18.1 trillion or $40.7 billion, a whopping 70% of the total market cap of $58.3 billion.
  • The SWOOTs are Airtel, Dangote Cement, MTN Nigeria, BUA Cement, and BUA Foods.
  • Companies are often revered when they attain unicorn status, which means they are worth over $1 billion.
  • Based on our data and using the official exchange rate, all but one of the companies on our list are worth over one billion dollars.

Biggest gainers in December 2022: Airtel Africa recorded the highest gain in terms of valuation. The company’s market capitalization rose by 61.4% from N3.5 trillion recorded as of December 2021 to N6.14 trillion by end of December 2022.

  • MTN Nigeria rose by 2.9% from N4.01 trillion recorded as of the end of December 2021 to N4.37 trillion by the end of the review month.
  • BUA Cement and BUA Foods (both majority-owned by billionaire business magnate Abdulsamad Rabiu) posted a valuation of N3.3 trillion ($7.1 billion) and N1.17 trillion ($2.5 billion), respectively.
  • On the other hand, Nestle Nigeria recorded the biggest loss, with a decline of N361 billion, followed by Dangote Cement, Zenith Bank and GTB with N68.1 billion, N12.5 billion and N88.2 billlion losses, respectively.
  • Highlighted in the graph below are the most valuable companies in Nigeria based on their market capitalisation as of December 2022.
Most capitalized companies in Nigeria

Follow us for Breaking News and Market Intelligence.
Tags: Airtel NigeriaDangote cementMTN Nigeria
Inimfon Asifa

Inimfon Asifa

Related Posts

Access Bank
Financial Services

Inside Access Bank’s N180 billion claims against MTN 

June 13, 2025
Tetracore and Dangote Cement boost partnership to expand CNG Autogas Network with commissioning of new mobile refueling units in Phase II rollout
Companies

Tetracore and Dangote Cement boost partnership to expand CNG Autogas Network with commissioning of new mobile refueling units in Phase II rollout

June 10, 2025
MTN Group, Airtel Africa sign agreements to share network infrastructure in Nigeria and Uganda 
Financial Analysis

Data boom: Airtel and MTN set for profit surge in 2025 

June 9, 2025
 Dangote Cement rewards distributors, customers with CNG-Trucks, cash gifts worth N11 billion 
Companies

 Dangote Cement rewards distributors, customers with CNG-Trucks, cash gifts worth N11 billion 

May 29, 2025
IHS Nigeria, Airtel Nigeria
Sectors

Airtel Nigeria flags 9.6 million spam messages using AI-powered service 

May 27, 2025
Dangote Cement
Dividends

Dangote Cement named dividend paying company of the year, edges out two other heavyweights 

May 25, 2025
Next Post
Mr. Tunde Lemo, OFR, Chairman of Titan Trust Bank

Recap: Nigeria's most memorable corporate deal in 2022 was between Titan Trust Bank and Union Bank

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Tinubu seeks swift action on ECOWAS Standby Force as insecurity escalates in West Africa 
  • Global oil price may surge past $150 per barrel as Iran’s parliament approves closure of Strait of Hormuz 
  • President Trump’s visa restrictions threaten 16 U.S. colleges depedent on international students 

Follow us on social media:

Recent News

Tinubu seeks swift action on ECOWAS Standby Force as insecurity escalates in West Africa 

Tinubu seeks swift action on ECOWAS Standby Force as insecurity escalates in West Africa 

June 22, 2025
Latest crude oil price drop threatens Nigeria’s revenue and naira stability 

Global oil price may surge past $150 per barrel as Iran’s parliament approves closure of Strait of Hormuz 

June 22, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics