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.
Udoma Udo Udoma serves as Chairman of Seplat Energy, which ranked sixth on the NGX with a market capitalisation of N3.48 trillion in 2025.
The company’s valuation increased from N3.35 trillion in 2024, supported by strong oil and gas sector performance.
A respected lawyer and corporate administrator, Udoma joined Seplat’s board in December 2023 as an Independent Non-Executive Director. He studied law at St. Catherine’s College, Oxford, where he earned degrees in Law and Jurisprudence.
Udoma has chaired several major Nigerian companies, including UAC Nigeria and Union Bank. He has also served on the boards of Unilever Nigeria, Linkage Assurance, and First Hydrocarbon Nigeria Limited, building a reputation for strong corporate governance.
