The Nigerian Exchange (NGX) recorded significant growth in 2025, with total market capitalisation rising from N62.7 trillion at the end of 2024 to N99.38 trillion by December 31, 2025.
The top 10 listed companies accounted for about N65 trillion of the total market value, representing 65.5% of the exchange.
These companies span sectors including banking, telecommunications, cement manufacturing, energy, and consumer goods.
Behind these firms are board chairmen responsible for overseeing governance, guiding long-term strategy, and ensuring board effectiveness.
While chief executives handle day-to-day operations, board chairmen focus on shareholder value, corporate direction, and institutional stability.
The list includes prominent bankers, industrialists, economists, lawyers, and politicians with decades of experience across various industries.
Below is a look at the board chairmen leading Nigeria’s 10 largest listed companies by market capitalisation in 2025.
Abdul Samad Rabiu also chairs BUA Foods Plc, which emerged as the most valuable company on the NGX in 2025.
The company recorded a market capitalisation of N14.38 trillion, representing 14.5% of the entire market.
BUA Foods’ valuation surged 92.5% from N7.47 trillion in 2024 as investors responded positively to earnings growth and strong consumer demand. The company remains one of Nigeria’s largest food manufacturing businesses with interests across sugar, flour, pasta, and rice production.
Rabiu founded BUA Group in 1988 and has since expanded it into one of Africa’s leading industrial groups. He previously chaired Tropical Continental Bank and Nigeria’s Bank of Industry and currently serves as President of the France-Nigeria Business Council.
