By Jeremiah Aminu
In the corporate sector, various metrics are employed to assess a company’s influence, strength, and value within a given market. Key measures include brand recognition, operational control, net profit, stakeholder networks, revenue, and market capitalisation. Of these, market capitalisation and revenue remain the most widely recognised indicators of a company’s overall value and market influence.
By market capitalisation, this simply refers to the total value of a company in the stock market. It plays an integral role in identifying investor perception, company size, and market value. Revenue, on the other hand, covers the total income that a company generates from its commercial activities before the removal of any cost or expense. What is more, it also aids the measurement of a company’s commercial success and market reach.
In Nigeria, as of August 5, ten companies have proven their relevance, value, and influence in terms of market capitalisation and generated revenue. This is supported by the notable stock research platform Stock Analysis, which curated a list of top companies in Nigeria based on their market capitalisation and revenue. These companies are discussed below:
- International Breweries PLC—N2.4 Trillion ($1.6 Billion)
International Breweries, established in Nigeria in 1971, brews, produces, and distributes alcoholic and non-alcoholic drinks across Nigeria. According to Stock Analysis, it recorded a market capitalisation of N2.4 trillion on August 5, 2025, with a revenue of over N606 billion. Its revenue in August showcases an increase in the company’s 2024 revenue which was around N488 billion, thus signalling its position as the 10th on the Nigerian Stock Exchange list.
- GTCO (Guaranty Trust Holding Company PLC)—N2.5 Trillion ($1.67 Billion)
Guaranty Trust Holding Company PLC, founded in 1990, is a financial-oriented firm that offers banking services across different African countries. As stated by Stock Analysis, it conducts its financial activities through six operations: Corporate banking, commercial banking, business banking, retail banking, SME banking, and public sector. On August 5, 2025, it recorded a market capitalisation of N2.51 trillion with a revenue of over N1.4 trillion, thereby marking its position as the 9th on the Nigerian Stock Exchange list.
- Geregu Power PLC—N2.8 Trillion ($1.8 Billion)
Geregu Power PLC, established in 2006, is a company that provides electrical services through the generation and distribution of electricity in Nigeria. On August 5, 2025, it recorded a market capitalisation of N2.8 trillion with an accumulated revenue of N144 billion, thus indicating its position as the 8th most valuable company in Nigeria on the Nigerian Stock Exchange list.
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- Zenith Bank PLC—N3.15 Trillion ($2.10 Billion)
Zenith Bank PLC, founded in 1990, is one of Nigeria’s most popular commercial banks that deals with the provision of banking and financial services. What is more, they also offer services such as loans and leasing, personal funds and investment management, and international transactions through domiciliary accounts. On August 5, 2025, its market capitalisation was N3.1 trillion with a revenue of over N2.3 trillion. This marks an increase from its 2024 generated revenue which was around N2.20 trillion.
- Seplat Energy Plc—N3.18 Trillion ($2.12 Billion)
Seplat Energy, established in 2009, is a petroleum company that engages in the exploration and production of oil and gas across Nigeria, the Bahamas, Singapore, England, Italy, and Switzerland. As stated by Stock Analysis, it recorded a market cap of over N3.18 trillion with a revenue of over N3.2 trillion on August 5, 2025. This indicates an increase from its prior revenue in 2024 which was around N1.12 trillion.
- BUA Cement PLC—N5.7 Trillion ($3.80 Billion)
BUA Cement, established in 2008, is one of the popular Nigerian cement firms known for its production of cement for construction purposes. According to the Nigerian Stock Exchange on Stock Analysis, it recorded a market cap of over N5.7 trillion with a revenue of over N1 trillion, hence indicating an increase from its 2024 accumulated revenue of N876 billion.
- BUA Foods PLC—N9.5 Trillion ($6.3 Billion)
Ranking fourth on the Nigerian Stock Exchange list is BUA Foods—a company that deals with the production of food products in Nigeria some of which are flour, sugar, and pasta. It recorded a market cap of N9.5 trillion with a revenue of over N1.7 trillion. This signals an increase from its 2024 revenue of N1.5 trillion.
- Dangote Cement PLC—N9.6 Trillion ($6.4 Billion)
Ranking third on the Nigerian Stock Exchange list for August 5, 2025, Dangote PLC (1981) is one of the giants in the Nigerian cement industry that engages in the production and distribution of cement across Nigeria and other African countries. It recorded a market cap of over N9.6 trillion with an accumulated revenue of N3.8 trillion. This contrasts with its 2024 revenue of N3.58 trillion, thus indicating a surge in its generated revenue.
- MTN Nigeria Communications PLC—N10 Trillion ($6.67 Billion)
MTN Nigeria Communications PLC, which commenced its operations in Nigeria in 2001, is a telecommunications firm that provides services such as internet access, telecommunication, and mobile financial services in Nigeria. The Nigerian Stock Exchange indicates that it amassed a market cap of N10 trillion with a revenue of N4.2 trillion on August 5, 2025, thereby marking an increase from its 2024 revenue of N3.36 trillion.
- Airtel Africa PLC—N15.46 Trillion ($10.31 billion)
Airtel Africa PLC, founded in 2001, is one of the titans of the Nigerian telecommunication industry that provides telecommunication, internet, and mobile money services across Nigeria and other African countries. On August 5, 2025, it amassed a market cap of N15.46 trillion with a revenue of N8 trillion. Its 2025 revenue marks an increase from its 2024 revenue of N7.35 trillion ($4.9 billion). And as such, it stands at the pinnacle of the Nigerian Stock Exchange list on account of its market capitalisation and revenue.
