BUA Foods Becomes Nigeria’s Most Valuable Company, Surpasses Dangote and MTN with N12.5 Trillion Market Cap
BUA Foods Plc has officially dethroned Dangote Cement and MTN Nigeria to become the most valuable company on the Nigerian Exchange (NGX), achieving a market capitalization of N12.5 trillion. The consumer goods powerhouse now leads the elite Stocks Worth Over One Trillion (SWOOT) index, a select group of high-cap equities collectively valued at N78.9 trillion. This milestone marks a defining moment for Nigeria’s capital market, showcasing renewed investor confidence in the fast-moving consumer goods sector.
Listed on the NGX in January 2022, BUA Foods has grown into a dominant market force, contributing 12.7% of the Exchange’s total capitalization. Its share price has risen from N415 at the start of 2025 to N692.50 by October 31, a 66.9% year-to-date gain that cements its leadership position. Despite having a relatively small public float — with nearly 90% of shares held by core investors — BUA’s steady performance continues to attract strong investor sentiment, maintaining momentum even amid profit-taking phases.
The company’s diverse operations across sugar, flour, pasta, rice, and edible oils have bolstered its resilience, helping it outperform traditional heavyweights like Dangote Cement and MTN Nigeria. Dangote Cement now trails with a market capitalization of N11.1 trillion, supported by solid domestic demand and stable export volumes. Meanwhile, MTN Nigeria follows closely with a N10.9 trillion valuation after rebounding from 2024’s foreign exchange pressures, aided by government tariff adjustments and improved H1 performance.
The broader consumer goods sector has also emerged as one of the NGX’s top-performing categories in 2025. Companies such as Champion Breweries (+294%), NASCON (+251%), and Honeywell Flour (+217%) have led the rally, supported by rising domestic consumption and foreign portfolio inflows. Analysts say investors are increasingly shifting toward consumer-focused equities as a hedge against naira volatility and uncertain fiscal policies.
With its impressive financial performance and consistent growth, BUA Foods appears well-positioned to consolidate its dominance heading into 2026. The company reported a 32.7% year-on-year revenue increase to N1.42 trillion for the first nine months of 2025, alongside a 56% rise in gross profit and over 100% growth in earnings per share. Analysts project that if this momentum continues, BUA Foods will not only maintain its valuation lead but could redefine investor sentiment toward Nigeria’s consumer goods industry for years to come.
source: Nairametrics