You may have stumbled upon articles of the richest people in Nigeria but how about reading an article of the richest businesses in Nigeria. Of course, there are many business organizations and enterprises in Nigeria that are making profits irrespective of the pandemic and harsh economy.
With a population of more than 200 million people, Nigeria has been identified by financial experts and economists as a good place for business to thrive in Africa. Due to this, lots of investors have set up branches and sister-companies in Nigeria. Also, the indigenes and inhabitants of the country aren’t left out, some Nigerians have successfully built multi-million dollar businesses in their home soil.
Businesses related to banking, clothing, fashion, telecommunication, finance, oil & gas, cement, agriculture, mining, sugar production etc have successfully thrived in Nigeria. This is a clear indication that Nigeria is a good ground to do any business venture.
Would you like to learn about the richest and valuable business companies in Nigeria? We have provided you with a list of the richest businesses in Nigeria.
What Are The Richest Businesses In Nigeria?
In no particular order, here is a list of the most valuable and richest businesses in Nigeria:
1. Shell Petroleum Development Company (SPDC)
Shell is widely known as the biggest oil company in Nigeria. The company is a key player in the petroleum industry, they operate on a scale of more than 6,000 km of pipelines & flow-lines, 8 factories for natural gases ranging over 1,000 oil-producing wells.
With a market capitalization of over $110 billion, you can tell that Shell Petroleum is one of the richest businesses in Nigeria.
2. Nestle Nigeria
Nestle Nigeria is no exception when it concerns food production in Nigeria. It was founded in 1962 as Nestle Products Nigeria Ltd. Ever since its creation, the company have continued to provide food for Nigerians locally and abroad. Their main processing plant is at Agbara Industrial Estate, Ogun State but the company operates from Lagos State where it is headquartered.
Nestle manufactures various food and edibles such as baby food, beverages, cereals, food seasoning and more. Nestle Nigeria has a market capitalization of more than $3 billion.
3. Dangote Group
Dangote Group needs no further introduction, it is a conglomerate owned by the richest man in Africa, Alhaji Aliko Dangote. The company is into several businesses including freight, agriculture, cement and sugar production, oil and gas, food processing and more.
Dangote Plc started out in 1977 as a trading company in Kano but has evolved into a multi-billion dollar company today. The company has a market capitalization of more than $11 billion USD, Dangote Group is one of the biggest businesses in West Africa.
4. MTN Nigeria
MTN Nigeria is a subsidiary company of MTN Group Ltd, a telecom giant in Africa. The Nigerian branch of the company generates over one-third of the company’s revenue. MTN has over 58 million subscribers/customers in Nigeria, there are trusted for reliable telecom and internet services.
MTN Nigeria has a market cap of over $13 billion, the company keeps growing and it isn’t showing any signs of stopping.
5. Nigerian Breweries Plc
Nigerian Breweries Plc is a pioneer and the largest brewing company in Nigeria. It doesn’t only cater to the needs of customers in Nigeria but it exports some of its products to other West African countries. It was incorporated as a company in 1946 where it was known as Nigerian Breweries Limited.
Today, the Nigerian Breweries Plc has breweries in all regions in the federation. Nigeria Breweries has a market capitalization of more than $2 billion.
6. Globacom Limited
Globacom is ranked second in the list of telecommunication companies in Nigeria. It is owned by Nigerian business mogul, Mike Adenuga, who founded the company on August 29, 2003. Globacom has over 3,500 employees and they provide telecommunication services to more than 45 million people in Nigeria.