The Industrial Goods sector, as tracked by the NGX Industrial Index, represents a vital segment of the Nigerian stock market, with a market capitalization of N16.2 trillion.
As of the trading week ended 19th September 2025, it ranked second only to the Consumer Goods sector, which leads with N19.8 trillion, pushing the Banking index to third place at N14.7 trillion.
Relative to the Nigerian All-Share Index, currently valued at N89.74 trillion, the Industrial Goods sector accounts for 18.13% of total market capitalization.
The sector consists of companies whose outstanding shares, when multiplied by their market prices, create a combined value that influences both the Industrial Index and the broader All-Share Index.
Their market capitalization, or size, is therefore determined by the number of shares listed and how well those shares perform in terms of price movement.
This work ranks the top 10 stocks under the NGX Industrial Index based on their size, or market capitalization.
Here they are:
BUA Cement Plc, one of the nation’s largest cement producers, secures the 2nd spot with a market capitalization of N5.14 trillion. It accounts for 31.6% of the Industrial Goods Index and 5.73% of the All-Share Index.
The company has 33,864,354,060 outstanding shares, and its stock has gained 63.23% this year, moving from N93.00 to N151.80.
As of June 30, 2025, BUA Cement reported total assets of N1.61 trillion, including N1.13 trillion in property, plant, and equipment.
Revenue reached N580.3 billion in H1 2025, while pretax profit jumped fivefold to N214.8 billion.
