Nigeria, Africa’s largest economy, has been experiencing a surge in business growth and innovation in recent years. The nation’s entrepreneurial spirit, coupled with its abundant resources and a growing consumer market, has fostered the development of numerous successful companies.

According to findings from data tracked by the Nigerian Exchange (NGX), as reported by the Nigerian business news agency, Nairametrics, the 10 most valuable companies in Nigeria are now worth a combined $31 billion. The Nairametrics report also notes that Airtel Africa and MTN Nigeria lead the list of Nigeria’s most valuable public firms in the first quarter of 2023, with market capitalizations of N5.56 trillion and N4.89 trillion, respectively.

The top 10 corporations on the NGX accounted for a sizable portion of Nigeria’s equity market value. These 10 corporations were valued at N24.09 trillion as of March 31, 2023, accounting for almost 82% of the overall market value.