The Nigerian stock market continues to dazzle investors in 2025, sustaining its momentum as one of the world’s best-performing exchanges.
As of the close of trading last week, the All-Share Index (ASI) climbed to 134,452.93 basis points, delivering a 30.63% year-to-date gain nearly matching the impressive 37.65% full-year return in 2024.
Market capitalization now stands at N83.07 trillion, reflecting strong investor appetite despite lingering macroeconomic headwinds like inflation and currency swings.
So far in 2025, the Nigerian Exchange (NGX) has posted a 31.32% YtD return, consolidating the bullish trend that accelerated in early July.
The rally has been fueled by stellar earnings reports, particularly from the banking and consumer goods sectors, where listed firms have demonstrated resilience and stronger profitability in the face of earlier economic pressures. Investors are rewarding these fundamentals with renewed confidence, propelling several companies to valuations above the $1 billion mark.
With the index recently closing at 137,912.87 basis points, reflecting a 33.99% year-to-date gain and total market cap of N87.2 trillion, Nigerian equities are not just attracting local participation but also renewed foreign interest.
Against this backdrop of strong performance and resilient corporate earnings, we highlight the Nigerian listed companies now valued at over $1 billion as of July 2025.
- Market Capitalization: $5.6 billion
As of July 28, 2025, Airtel Africa has a market capitalization of N8.68 trillion ( $5.60 billion), making it the most valuable stock on the Nigerian Exchange. This marks a 7.03% increase from its N8.11 trillion ($5.23 billion) valuation in December 2024. Trading at N2,310.50 per share, the stock has gained 7.12% year-to-date from its opening price of N2,156.90, ranking 103rd on the NGX in terms of performance.
The telecoms giant recently reported its Q1 2025/2026 financial results for the period ended June 30, 2025, posting a pre-tax profit of $273 million, a 269% year-on-year surge.
Notably, this figure represents 41% of the group’s total pre-tax profit for the full financial year ended March 31, 2025. Profit after tax also climbed sharply to $156 million, up 408% from the same period last year, equivalent to 48% of its prior full-year post-tax earnings. The results highlight Airtel Africa’s strong operational rebound, anchored by robust growth in its Nigerian market and accelerating demand for data and mobile money services.
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