The Nigerian Exchange (NGX) has a new market leader, as BUA Foods Plc claimed the top spot with a valuation of ₦10.348 trillion following a stellar earnings performance in the second quarter of 2025. This achievement pushes the consumer goods company ahead of former leaders, placing it as the most valuable brand among all listed companies.
The shake-up in the market’s top tier sees telecommunication giant MTN Nigeria drop to the second position with a total market value of ₦9.66 trillion as of the close of trading on Friday. Trailing closely is Dangote Cement Plc, which is now ranked third with a valuation of ₦9.736 trillion. The cement company had previously held the top spot before its share buyback program reduced its outstanding shares in the market.
Airtel Africa Plc, with a market value of ₦8.683 trillion, holds the fourth position, while BUA Cement Plc rounds out the top five with a valuation of ₦5.709 trillion, benefiting from strong earnings recovery.
Other notable companies in the “trillion naira club” include:
GTCO, the first financial services company to enter the ranks, with a valuation of ₦3.642 trillion.
Zenith Bank Plc, a key rival to GTCO, valued at ₦3.065 trillion.
Geregu Power Plc, backed by billionaire Femi Otedola, with a worth of ₦2.85 trillion.
Lafarge Africa, another major player in the cement sector, valued at ₦2.343 trillion.
Nigerian Breweries Plc, the first brewer to join the group, with a value of ₦2.308 trillion.
International Breweries Plc, valued at ₦2.26 trillion.
Aradel Holdings Plc, the oil-backed stock, worth ₦2.259 trillion.
Transcorp Power Plc, with a market value of ₦2.16 trillion.
UBA, valued at ₦1.994 trillion, as it awaits its first-half earnings report.
Transcorp Hotels Plc, with a valuation of ₦1.685 trillion.
Stanbic IBTC, the most valuable among tier-2 lenders, at ₦1.606 trillion.
Nestle Nigeria Plc, with a market value of ₦1.5 trillion.
Presco Plc, valued at ₦1.48 trillion following significant price appreciation.
Access Holdings Plc, valued at ₦1.44 trillion.
First Holdco, valued at ₦1.38 trillion.
Fidelity Bank Plc, valued at ₦1.059 trillion.
Okomu Oil, the last on the list, valued at ₦1 trillion.
