Nigeria’s Trillion-Naira Market Cap Club Expands to 22 Firms
As of August 27, 2025, twenty-two companies listed on the Nigerian Exchange (NGX) have crossed the ₦1 trillion market capitalization threshold, cementing their status in what has become known as the “Trillion Naira Club.”
Topping the chart is BUA Foods, which leads with a market capitalization of ₦10.62 trillion. It is followed by MTN Nigeria at ₦9.13 trillion, Dangote Cement with ₦8.77 trillion, and Airtel Africa at ₦8.68 trillion. BUA Cement rounds off the top five with ₦5.14 trillion.
In the banking sector, Guaranty Trust Holding Company (GTCO) leads with ₦3.46 trillion, followed closely by Zenith Bank at ₦2.87 trillion and United Bank for Africa (UBA) at ₦2.03 trillion.
Other strong performers include Access Holdings with ₦1.45 trillion, First Bank HoldCo at ₦1.36 trillion, Stanbic IBTC Holdings with ₦1.59 trillion, and Fidelity Bank at ₦1.07 trillion.
The oil and gas sector is represented by Seplat Energy at ₦3.23 trillion and Aradel Holdings at ₦2.22 trillion, while Geregu Power (₦2.85 trillion) and Transcorp Power (₦2.15 trillion) highlight the growing influence of the utilities sector. Transcorp Hotels also makes the list from the services sector with a capitalization of ₦1.69 trillion.
Consumer goods giants such as International Breweries (₦2.19 trillion), Nigerian Breweries (₦2.18 trillion), Nestle Nigeria (₦1.50 trillion), and Lafarge Africa (₦2.16 trillion) reinforce the sector’s dominance.
Meanwhile, Presco, a key player in agriculture, holds a strong ₦1.48 trillion valuation.
The list underscores the diversity of Nigeria’s capital market, with representation across agriculture, consumer goods, financial services, ICT, industrial goods, oil and gas, utilities, and services.
The expansion of the trillion-naira club highlights investor confidence, sectoral resilience, and the strategic positioning of Nigerian corporates amid evolving economic conditions.
