A look at Nigeria’s equities market, which stood at N68.543 trillion as at May 14, shows that there are 20 out of 148 listed companies on the Nigerian Exchange Group (NGX) with market capitalisations in excess of N1trillion.
These companies are: Access Holdings, Dangote Cement, Lafarge Africa, MTNN, and Seplat, among others. Some of the stocks have appreciated this year, while others have declined.
The N1 trillion club
Access Holdings has a market cap of N1.143 trillion. This year, the stock has decreased by 10.06 percent, according to market data as at May 14.
Following the Central Bank of Nigeria (CBN)’s mandate on banks to increase their capital raise, impressive full year (FY 2024) and first quarter (Q1) 2025 scorecards have driven gradual return of investors risk appetite, ‘marked by measured accumulation,’ according to analysts.
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“Investor flows suggest a cautious but deliberate rotation back into equities, particularly across resilient sectors. If this trend holds, a higher-level breakout on the ASI appears increasingly likely. Dividend reinvestment activity and company-specific catalysts could be the next drivers to sustain upward momentum,” according to Lagos-based Vetiva research analysts in their May 14 note.
Dangote Cement has N7.424 trillion market cap but this has decreased by 8.10 percent. Also, First Holdco, with a market capitalisation of N1.040 trillion, has decreased this year by 11.41 percent.
However, UBA with stocks valued at N1.195trillion has risen this year by 2.79 percent.
Similarly, Lafarge Africa, which is valued at N1.25trillion, has risen this year by 11.51 percent.
Also, Zenith Bank, valued at N1.99 trillion, was up by 5.49 percent year-to-date (YtD) as at May 13.
MTNN is comfortably in this league with N5.645 trillion capitalisation, with the stock rising this year by 39 percent.
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Other trillion naira stocks and their returns year-to-date (YtD) include: Seplat Energy (N3.18 trillion/-1.95 percent); Presco (N1.106 trillion/+85.26 percent); Transcorp Hotels (N1.52 trillion/+32.33percent); Transnational Corporation (N1.145 trillion/+1.38 percent); Transcorp Power (N2.382 trillion/-8.72percent); Airtel Africa (N7.84 trillion); BUA Cement (N2.741 trillion/-10 percent); and BUA Foods (N7.277 trillion/+0.72 percent).
Further checks at the NGX show that Geregu Power has a market capitalisation of N2.760 trillion, though the stock has decreased by 0.74 percent YtD.
Others are: Fidelity Bank (N1.019 trillion/+20 percent); GTCO (N2.264 trillion/+20.35 percent); International Breweries (N1.521 trillion/+68.47 percent); and Nigerian Breweries (N1.633 trillion/+70.31 percent).
