20 Nigerian companies now worth over $1 billion as NGX bull run continues in 2026
By Aboki Forex —
At least 20 companies listed on the Nigerian Exchange Group now have market capitalisations above $1 billion. The rankings are based on the official exchange rate of N1,362.20/$1 and closing share prices on Monday, July 28, 2026.
Telecoms, banking, cement, consumer goods, energy and hospitality firms all feature in the billion-dollar club. MTN Nigeria tops the list as the most valuable company on the exchange.
Top five billion-dollar companies
MTN Nigeria leads with a market capitalisation of N17.85 trillion, equivalent to about $13.10 billion. Its shares closed at N858 on July 28.
Dangote Cement follows at $12.59 billion (N17.15 trillion), with shares closing at N1,034. BUA Foods ranks third at $11.17 billion (N15.21 trillion), and BUA Cement is fourth at $8.05 billion (N10.97 trillion). Aradel Holdings completes the top five at $4.87 billion (N6.63 trillion), making it the largest energy company on the list.
Banks, hospitality and power
Among banks, Zenith Bank is valued at $3.82 billion, GTCO at $3.54 billion, and Stanbic IBTC Holdings at $1.90 billion. UBA and Access Holdings also feature at $1.49 billion and $1.15 billion respectively. Ecobank Transnational Inc. is valued at $1.54 billion.
Transcorp Hotels is the highest-valued hospitality firm at $1.82 billion, with shares closing at N241.90. In the power sector, Transcorp Power is valued at $1.34 billion and Geregu Power at $1.51 billion.
Consumer goods and others
Consumer goods companies feature strongly. Nigerian Breweries is valued at $1.78 billion, International Breweries at $1.70 billion, and Nestlé Nigeria at $1.64 billion. Palm oil producer Presco rounds out the consumer segment at $1.77 billion, with shares closing at N2,070.
Other companies in the club include First HoldCo ($4.02 billion), HBM Nigeria ($4.13 billion), and BUA Foods ($11.17 billion). The full list confirms that the NGX bull run in 2026 has lifted valuations across multiple sectors.
For the naira and Nigerian businesses, the sustained rally signals strong investor confidence in local equities despite currency fluctuations. More companies crossing the $1 billion threshold could attract additional foreign portfolio inflows, supporting the exchange rate over time.