20 biggest companies in Nigeria

Nigeria is a country made up of companies and industries. Some are big and well known while others are small. Some of these big companies in Nigeria have branches all over the country and all around the world. 

These businesses are crucial to Nigeria’s economy.

The businesses that were successful in generating significant income and, as a result, contributed to the nation’s success will be addressed in this article. 

Table of Content hide 120 biggest businesses in Nigeria 1.1Shell Petroleum Development Company 1.2Mobil Nigeria 1.3MTN Nigeria 1.4Nestle 1.5Total Nigeria PLC 1.6Dangote Group 1.7Nigerian Breweries Plc 1.8Globacom 1.9Guaranty Trust Holding Company (GTCO) 1.10NLNG 1.11Unilever Nigeria Plc 1.12Guinness Nigeria 1.139 Mobile 1.14First Bank 1.15Cadbury 1.16Chevron 1.17GlaxoSmithKline (GSK) 1.18Klynveld Peat Marwick Goerdeler (KPMG) 1.19United Africa Company limited (UAC) 1.20Arik Air

20 biggest businesses in Nigeria

The top 20 wealthiest businesses in Nigeria are listed below, in no particular order:

Shell Petroleum Development Company

Shell is the biggest oil firm in Nigeria. Shell Nigeria is the Nigerian arm of Royal Dutch Shell. 

More than 6,000 km of flowlines and pipelines, eight natural gas factories, more than 1,000 oil production wells, and at least 87 flow stations make up the company’s infrastructure. 

The Shell Nigeria Corporation‘s primary responsibility is physically supervising the actual petroleum extraction and production. The company has a market capitalization of $110 billion.

Mobil Nigeria

Mobil Nigeria, a sizable oil company in itself, is one of ExxonMobil’s three subsidiaries. All three of these subsidiaries are active in Nigeria. 

The business, which operates offshore, has at least 90 platforms spread across a region with a total area of 800,000 acres. 

It comes at number two behind Shell, among Nigeria’s main oil producers. The market value of Mobil Nigeria exceeds $147 million.

MTN Nigeria

Additionally, the use of mobile phones increased in the nation and throughout all of Africa. 

MTN Nigeria is a division of MTN Group Limited, formerly known as M-Cell. Up to one-third of MTN Group Limited’s income comes from the corporation.

More than 58 million Nigerians subscribe to MTN Nigeria’s service, demonstrating the company’s high level of public trust. 

The business also claims to be one of the biggest on the continent and the top communications provider in the nation. 

They show no signs of slowing down as they keep expanding quickly. MTN belongs to the top 20 richest companies in Nigeria, with a market valuation of around $13.5 billion.

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Nestle 

Naturally, businesses that deal with food have high earning rates. This also applies to Nestlé Nigeria. 

The business was recognised as one of the nation’s top food producers and one of Africa’s most prosperous enterprises.

Formerly known as Nestlé Products Nigeria Limited, it was established in 1962. Despite operating mostly from Lagos, the company’s main processing factory is in Ogun State. 

Since the company’s operations began more than 57 years ago, Nigerians have had access to high-quality food. 

The company has a market capitalization of more than $3.1 billion.

Total Nigeria PLC

On June 1, 1956, Total Nigeria Plc was founded as a private business.

It is a division of Total, a global energy firm with operations in over 130 nations. 

Total Nigeria Plc competes with major oil companies like Shell and Chevron. 

More than 500 service stations are owned by the corporation in Nigeria alone. Total Nigeria Plc. was able to expand thanks to a successful merger that took place in 2001.

The business has a market capitalization of $10 billion.

Dangote Group

This corporation, owned by Nigerian tycoon Aliko Dangote, does not focus on a single market segment. 

In actuality, the company meets a variety of needs. The company runs enterprises in cement, freight, and food production. 

In 1977, Dangote established itself as a trading firm. The company relocated to Lagos to carry out its expansion goals. 

From that little trading company, it expanded to become the large conglomerate it is today. 

It is a significant sugar source for the nation’s breweries, confectioneries, and soft drink manufacturers. 

The corporation is valued at $11 billion on the market.

Nigerian Breweries Plc

Beer, a celebration mainstay, always brings the energy to the party. Nigerian Breweries Plc, the largest brewing company in Nigeria, rose to prominence in the brewery industry as a result of this mentality. 

The business not only serves Nigerians but also exports its goods to other regions of West Africa. 

Nigerian Breweries Limited was the previous name of the business when it was founded in 1946. When it was launched, competition existed for its most well-known brand, the STAR Lager. 

But by 1960, the item had gained enough traction to become a standard at celebrations and ceremonies. The company is valued at $2 billion on the market.

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Globacom

Mike Adenuga founded the organisation, commonly referred to as Glo, on August 29, 2003. It offers telecommunication services. 

Glo, hailed as an example of a developing business, employs more than 3,500 people across the globe. 

Glo Mobile is a division of Globacom. It is the second-largest telecommunications firm after MTN Nigeria. By December 2018, Glo Mobile had at least 45 million subscribers in Nigeria. It operates in countries outside Nigeria, such as Benin, Ghana, etc.

Guaranty Trust Holding Company (GTCO)

Guaranty Trust Holding Company, formerly known as Guaranty Trust Bank Plc, offers a wide range of services, including retail banking, investment banking, internet, and online banking, asset management services, and corporate banking. 

Its headquarters are located in Lagos, more precisely on Victoria Island. On January 17, 1990, GTB was established to provide the people of Nigeria with various financial services. It has a market capitalization of $2.9 billion.

NLNG

Additionally known as Nigeria LNG Limited; LNG, or Liquefied National Gas, is the primary producer of LNG and other natural gas liquids.

The corporation exports these goods to other nations. The company’s natural gas plant is located on Bonny Island in Nigeria. 

In May 1989, Nigeria LNG Limited was established as a limited liability business. 

In September 1999, the Bonny Island gas plant formally began producing liquefied natural gas goods.

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Unilever Nigeria Plc

Everybody has different health and hygiene demands, and Nigerians undoubtedly share these needs. 

Unilever Nigeria Plc is one of the largest consumer product companies in Nigeria. 

It produces many goods, including toothpaste, soap, deodorants, and lotions.

Because of its performance in the nation, the Nigerian Stock Exchange put the company on a list of the richest companies in Nigeria.

In 1923, the business made its official debut in Nigeria. The corporate offices of the corporation are in Lagos, Nigeria. Its market value exceeds $301 million.

Guinness Nigeria

Guinness Nigeria offers the Nigerian people their preferred alcoholic beverages in addition to Nigerian Breweries. 

By installing its first brewery in Ikeja, the business was established formally in 1962. 

Guinness is a subsidiary of Diageo Plc, based in the UK.

A few years later, additional breweries appeared in other parts of Nigeria, such as the one in Benin City. The brewery in Ikeja served as Guinness’ first outpost outside of their home countries. The market capitalisation of the company is $0.5 billion.

9 Mobile

This list now includes yet another telecommunications provider. 

Formerly known as Etisalat Nigeria (although many still refer to the business by this name rather than the more recent one), 9 Mobile offers a wide range of extremely cutting-edge goods and services, such as the Eco Sim. 

Additionally, this business offered a unique feature that allowed Nigerians to personalise their phone numbers. As a way for Nigerians to discover their natural skills for coming up with ideas for the country’s internet expansion, 9 Mobile also established the Etisalat Prize for Innovation.

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First Bank

First Bank was established in 1894, making it the oldest bank in Nigeria. 

First Bank, formerly the Bank of British West Africa, is the biggest bank in Nigeria in terms of total deposits and gross earnings. 

The First Bank of Nigeria became the company’s first name in 1979 and has been known by that name ever since. More than 7,000 individuals work for the bank, which has more than 10 million clientele.

Cadbury

Food businesses undoubtedly make a lot of money. This is made feasible by being a valuable commodity. 

Bournvita is the company’s top-selling sweet and confectionery item, produced by Cadbury Nigeria Plc. 

Unnecessary to say, of course, Cadbury produces a variety of chocolate goods, and its Nigerian affiliate does the same.

Almost 15,000 tonnes of cocoa beans were used to make cocoa-based dishes and beverages. Its market capitalization exceeds $54 million.

Chevron

Chevron Nigeria Limited is another significant oil producer in Nigeria. CNL was previously known by a different name and a Chevron Corporation division. 

Gulf Oil Company’s name was changed following the completion of a merger with Chevron.

When a second merger was finalised, its size increased even more. It was with the Texaco Overseas this time. 

Previously, Chevron was Nigeria’s third-largest oil firm. The corporation has a market value of about $220.17 billion.

GlaxoSmithKline (GSK)

GSK is one of the top pharmaceutical firms in Nigeria. It is a worldwide corporation with its London headquarters in Brentford.

Klynveld Peat Marwick Goerdeler (KPMG)

Along with Deloitte, Ernst & Young, and PriceWaterhouseCooper, KPMG is one of the big four auditing firms.

United Africa Company limited (UAC)

One of the nation’s oldest businesses is UAC. Manufacturing, services, logistics and warehousing, agriculture, and real estate are just a few industries in which the corporation operates.

Arik Air

Arik Air is one of the nation’s top aviation businesses. It was founded in 2002 but commenced operations on October 30, 2006. 

Arik has a domestic network of Nigerian cities and many other West African countries. It previously operated flights to the United Kingdom and the United States.

As of February 2021, it had 21 aircraft in its fleet and 17 pending delivery. 

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