Top 10 Largest Companies in Nigeria by Market Value in 2026: MTN, BUA Foods, Dangote Cement Lead

The Nigerian Exchange (NGX) continues to showcase the strength of the country’s biggest firms, with the top 10 companies now boasting market capitalisations above N3 trillion. These corporate giants span telecoms, banking, consumer goods, cement, and energy sectors, reflecting a diverse and resilient market landscape.

Leading the pack is MTN Nigeria, valued at N16.38 trillion as of February 20, 2026. The telecoms powerhouse saw its market value soar 36 percent from N12.01 trillion at the start of the year, partly driven by its planned acquisition of IHS Towers. Following MTN is BUA Foods, which climbed to N15.21 trillion despite a more modest 5.8 percent growth, previously topping the list in January.

Dangote Cement and Airtel Africa round out the top four. Dangote Cement’s market value rose sharply by 26 percent to N13.50 trillion, while Airtel Africa maintained stability at N8.53 trillion. Meanwhile, BUA Cement claimed the fifth spot with N7.11 trillion, marking a year-to-date increase of 14.7 percent.

Energy firms made a strong showing with Seplat Energy and Aradel Holdings, whose valuations surged 60 percent and 63 percent, respectively, reaching N5.46 trillion and N4.75 trillion. Financial institutions also feature prominently, with Guaranty Trust Holding Company (GTCO) at N4.31 trillion and Zenith Bank at N3.55 trillion, reflecting gains of 30 percent and 40 percent over the past two months.

Rounding out the top 10 is Lafarge Africa, entering the trillion-naira club with a 56 percent jump to N3.38 trillion. The list highlights Nigeria’s dynamic corporate sector, showcasing companies that not only lead in size but also in resilience and investor confidence.

source: The cable