The Nigerian stock market continues to dazzle investors in 2025, sustaining its momentum as one of the world’s best-performing exchanges.
As of the close of trading last week, the All-Share Index (ASI) climbed to 134,452.93 basis points, delivering a 30.63% year-to-date gain nearly matching the impressive 37.65% full-year return in 2024.
Market capitalization now stands at N83.07 trillion, reflecting strong investor appetite despite lingering macroeconomic headwinds like inflation and currency swings.
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So far in 2025, the Nigerian Exchange (NGX) has posted a 31.32% YtD return, consolidating the bullish trend that accelerated in early July.
The rally has been fueled by stellar earnings reports, particularly from the banking and consumer goods sectors, where listed firms have demonstrated resilience and stronger profitability in the face of earlier economic pressures. Investors are rewarding these fundamentals with renewed confidence, propelling several companies to valuations above the $1 billion mark.
With the index recently closing at 137,912.87 basis points, reflecting a 33.99% year-to-date gain and total market cap of N87.2 trillion, Nigerian equities are not just attracting local participation but also renewed foreign interest.
Against this backdrop of strong performance and resilient corporate earnings, we highlight the Nigerian listed companies now valued at over $1 billion as of July 2025.
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17. Presco Plc
- Market Capitalization: $1 billion
Presco Plc recorded a market capitalization of N1.55 trillion ($1.00 billion) for the July 28, 2025 market trade session. Without December 2024 data for comparison, the valuation shows the company’s importance in Nigeria’s agribusiness sector, benefiting from robust palm oil demand and growing food security needs.
16. Stanbic IBTC Holdings
- Market Capitalization: $1.03 billion
Stanbic IBTC Holdings recorded a market capitalization of N1.59 trillion ($1.03 billion) for the July 28, 2025 market trade session. Recent reports published showed Stanbic IBTC Holdings jumped 17% on the Nigerian stock market so far in July, pushing its year-to-date return above 71%, likely supported by positive fundamentals around the company.
The stock, which opened the year at N58, is now priced just below N100, with over 155 million shares exchanged so far.
The recent uptick likely reflects reactions to strong Q1 2025 results, with Stanbic reporting a pretax profit of N116.4 billion, an 85.6% increase from the same period last year, alongside growing investor interest in the banking sector.
15. United Bank for Africa (UBA)
- Market Capitalization: $1.23 billion
United Bank for Africa recorded a market capitalization of N1.91 trillion ($1.23 billion) for the July 28, 2025 market trade session, up 64.66% from N1.16 trillion ($0.75 billion) in December 2024. The impressive growth reflects UBA’s expanding footprint across Africa, improved profitability, and investor optimism in its pan-African banking strategy.
According to its unaudited financial results for the first quarter ended March 31, 2025, it posted a robust pre-tax profit of N204.27 billion, representing a 30.65% year-on-year growth from Q1 2024.
Net profit also saw a strong performance, with profit after tax rising 33.15% to N189.84 billion, compared to N142.58 billion recorded in the same period last year.
14. Lafarge Africa Plc
- Market Capitalization: $1.34 billion
Lafarge Africa recorded a market capitalization of N2.08 trillion ($1.34 billion) for the July 28, 2025 market trade session, up 84.07% from N1.13 trillion ($0.73 billion) in December 2024. The strong surge signals renewed investor confidence, driven by increased infrastructure spending and rising demand for cement in Nigeria’s construction sector.
For the second quarter of the 2025 financial year, the company recorded a sales revenue of N268.63 billion This revenue represents an increase of 70% from N157.80 billion that was recorded in the corresponding period in 2024.
13. Aradel Holdings Plc
- Market Capitalization: $1.42 billion
Aradel Holdings recorded a market capitalization of N2.2 trillion ($1.42 billion) for the July 28, 2025 market trade session, down 15.38% from N2.6 trillion ($1.68 billion) in December 2024. In May the company was named Energy Company of the Year at the inaugural Nairametrics Capital Market Choice Awards 2025, reinforcing its reputation as one of Nigeria’s leading players in the energy sector.
For the quarter ended March 31, 2025, the company reported a pre-tax profit of N67.1 billion, a remarkable 70.08% increase from N39.4 billion in Q1 2024. The surge was driven by stronger crude oil revenue, reflecting both improved production and favorable market dynamics.
12. Nigerian Breweries Plc
- Market Capitalization: $1.45 billion
Nigerian Breweries recorded a market capitalization of N2.24 trillion ($1.45 billion) for the July 28, 2025 market trade session. In its audited Group Financial Statements for the financial year 2024, it recorded an unprecedented revenue of N1.1 trillion, an 81% increase from N599.6 billion in 2023. Group gross profit rose 51% to N320 billion from N212.6 billion in 2023, while operating profit grew 59% from N44 billion to N70 billion, despite soaring input costs.
Furthermore, the company released its unaudited financial results for Q2 2025, reporting a pre-tax profit of N43.87 billion, a sharp turnaround from the pre-tax loss of N33 billion in the same period of 2024. This performance lifted its H1 2025 pre-tax profit to N88.42 billion, compared to a loss of N85.20 billion in H1 2024. Revenue for Q2 2025 rose 40.8% year-on-year to N354.51 billion, up from N251.76 billion in Q2 2024, bringing total H1 2025 revenue to N738.14 billion, a 54% increase year-on-year.
11. Transcorp Power Plc
- Market Capitalization: $1.55 billion
Transcorp Power recorded a market capitalization of N2.4 trillion ($1.55 billion) for the July 28, 2025 market trade session, down 11.11% from N2.7 trillion ($1.74 billion) in December 2024. The decline reflects investor caution amid the sector’s funding gaps and persistent challenges in Nigeria’s electricity supply chain.
In its unaudited financial results for the half-year ended 30 June 2025. The Company’s revenue grew 52% year-on-year to N205.8 billion in H1 2025, compared to N135.4 billion in H1 2024. This robust performance was driven by enhanced generation capacity and improved operational efficiency, reflecting Transcorp Power’s sustained investment in infrastructure and service delivery to strengthen Nigeria’s power sector.
10. International Breweries Plc
- Market Capitalization: $1.76 billion
International Breweries recorded a market capitalization of N2.73 trillion ($1.76 billion) for the July 28, 2025, market trade session. According to an earlier report by Nairametrics in April, International Breweries Plc reported a pre-tax profit of N35.06 billion for Q1 2025, marking a sharp turnaround from a loss of N89.3 billion in the same period of 2024.
The remarkable recovery was fueled by a 68.2% surge in revenue, rising from N103.2 billion in Q1 2024 to N173.6 billion, alongside a reduction in foreign exchange-related expenses.
Despite a 53.3% increase in the cost of sales, which climbed to N113.9 billion from N74.3 billion, the brewer achieved a gross profit of N59.6 billion, representing a 106.7% year-on-year rise.
9. Geregu Power Plc
- Market Capitalization: $1.84 billion
Geregu Power recorded a market capitalization of N2.85 trillion ($1.84 billion) for the July 28, 2025, market trade session, slightly down 1.04% from N2.88 trillion ($1.86 billion) in December 2024. The marginal dip highlights a relatively stable outlook, showing consistent demand for power generation despite industry-wide funding and infrastructure concerns.
Earlier in the year, it posted revenue of N31.7 billion for Q1 2025, representing a steep 37.02% decline from the N50.4 billion recorded in the same quarter of 2024. The weaker topline performance weighed heavily on profitability, with pre-tax profit falling 40.57% to N13.01 billion, compared to N21.9 billion a year earlier.
8. Zenith Bank
- Market Capitalization: $1.93 billion
Zenith Bank recorded a market capitalization of N2.99 trillion ($1.93 billion) for the July 28, 2025, market trade session, up 109.09% from N1.43 trillion ($0.92 billion) in December 2024. The sharp growth highlights strong investor confidence, supported by the bank’s resilient balance sheet, robust earnings, and leadership in Nigeria’s financial services sector.
Also, in its unaudited financial results for Q1 2025, it reached an all-time high quarterly interest income of N837.64 billion, a 71.46% year-on-year increase compared to Q1 2024. The surge in interest income underpinned a strong bottom-line performance, with pre-tax profit rising 9.56% to N350.82 billion.
Post-tax profit also recorded significant growth, climbing 20.7% year-on-year to N311.83 billion, representing more than 30% of the bank’s total profit for the full year 2024.
7. Seplat Energy Plc
- Market Capitalization: $2.07 billion
Seplat Energy recorded a market capitalization of N3.21 trillion ($2.07 billion) on July 28, 2025, market trade session, down 4.18% from N3.35 trillion ($2.16 billion) in December 2024. The decline reflects investor caution amid global oil price volatility and domestic regulatory pressures.
In its first-quarter results for the period ended March 31, 2025, Seplat reported impressive growth across key financial metrics, led by a more than threefold surge in pre-tax profit. Profit before tax jumped 203.97% year-on-year to N314.646 billion ($207 million), fueled by strong revenue growth.
Despite headwinds in the energy sector, the company continues to leverage its upstream assets and gas development projects to drive profitability. Seplat remains Nigeria’s leading indigenous energy firm and a critical player in the country’s energy transition agenda.
6. Guaranty Trust Holding
- Market Capitalization: $2.21 billion
For the period ended July 28, 2025, Guaranty Trust Holding Company’s (GTCO) market capitalization stood at N3.43 trillion ($2.21 billion), more than doubling from N1.68 trillion ($1.08 billion) in December 2024, a 104.17% surge that firmly places it among the top-performing stocks on the Exchange.
GTCO recently released its 2024 full-year audited accounts, reporting a record pre-tax profit of N1.266 trillion, up from N609.3 billion in 2023. Gross earnings rose sharply to N2.148 trillion, compared with N1.186 trillion a year earlier.
Profit after tax climbed 88.4% to N1.017 trillion, from N539.6 billion in 2023, the highest profit ever in the bank’s history. In addition, GTCO marked a significant milestone in its growth and expansion journey with the successful admission of its ordinary shares to the Equity Shares (International Commercial Companies Secondary Listing) category of the Official List of the UK’s Financial Conduct Authority (FCA), and trading commenced on the main market of the London Stock Exchange.
5. BUA Cement
- Market Capitalization: $2.95 billion
BUA Cement has grown its market capitalization to N4.57 trillion ($2.95 billion), as of July 28, 2025, a 45.08% increase from N3.15 trillion ($2.03 billion) in December 2024. Strong demand in the construction sector continues to bolster its valuation, keeping the company among Nigeria’s top industrial performers.
The company reported a pre-tax profit of N115.06 billion for the second quarter ended June 30, 2025, marking a staggering 510.65% increase compared to N18.8 billion recorded in the same period last year.
This strong quarterly performance pushed the company’s half-year pre-tax profit to N214.8 billion, a significant leap from N40.1 billion in the first half of 2024.
The surge in profitability was powered by the elimination of exchange losses and a solid jump in revenue, which rose to N289.4 billion in Q2, a 42.73% increase year-on-year.
4. BUA Foods
- Market Capitalization: $5.33 billion
BUA Foods recorded a market capitalization of N8.26 trillion ($5.33 billion) as of July 28, 2025, a 10.58% rise from N7.47 trillion ($4.82 billion) in December 2024. BUA Foods Plc also released its financial statements for the first quarter ended 31st March 2025, reporting a pre-tax profit of N136.3 billion.
This represents a 118.70% increase compared to the N62.3 billion recorded in the first quarter of 2024, driven by higher turnover and lower finance costs.
Turnover for the quarter stood at N442.06 billion, reflecting a 23.85% year-on-year rise from N356.9 billion in Q1 2024, supported by contributions across the company’s various product segments.
Investor confidence in Nigeria’s consumer goods sector has sustained BUA Foods’ position as one of the most valuable companies on the Exchange.
3. Dangote Cement Plc
- Market Capitalization: $5.38 billion
For the period ending July 28, 2025, Dangote Cement reported a market capitalization of N8.34 trillion ($5.38 billion), reflecting a 2.21% gain from N8.16 trillion ($5.26 billion) in December 2024.
Earlier, the company published its half-year results for the period ended June 30, 2025, reporting a pre-tax profit of N730 billion, representing a 149% year-on-year (YoY) growth and nearly 99.7% of its entire FY 2024 pre-tax profit.
The cement giant also reported a profit after tax of N520.455 billion, up 174% YoY, exceeding the entire 2024 full-year profit by 3%.
A previous report showed the second quarter pre-tax profits, which also rose 230% year on year to N418 billion. The company remains a cornerstone of the NGX, attracting significant foreign and local investor interest.
2. MTN Nigeria
- Market Capitalization: $5.56 billion
MTN Nigeria has been a star performer in 2025, with its market capitalization soaring to N8.62 trillion ( $5.56 billion), up 105.24% from N4.20 trillion ($2.71 billion) in December 2024. This remarkable surge positions MTN as one of the fastest-growing blue-chip stocks on the Nigerian Exchange this year.
The telecoms giant reported N1 trillion in revenue in the first quarter of 2025, driven by a tariff adjustment implemented in mid-February. This marks a 40.5% year-on-year increase from the N752.9 billion posted in Q1 2024. According to its unaudited Q1 2025 results, MTN returned to profitability, delivering N133.7 billion in profit after tax, recovering from a N392.7 billion loss in the same period last year.
1. Airtel Africa
- Market Capitalization: $5.6 billion
As of July 28, 2025, Airtel Africa has a market capitalization of N8.68 trillion ( $5.60 billion), making it the most valuable stock on the Nigerian Exchange. This marks a 7.03% increase from its N8.11 trillion ($5.23 billion) valuation in December 2024. Trading at N2,310.50 per share, the stock has gained 7.12% year-to-date from its opening price of N2,156.90, ranking 103rd on the NGX in terms of performance.
The telecoms giant recently reported its Q1 2025/2026 financial results for the period ended June 30, 2025, posting a pre-tax profit of $273 million, a 269% year-on-year surge.
Notably, this figure represents 41% of the group’s total pre-tax profit for the full financial year ended March 31, 2025. Profit after tax also climbed sharply to $156 million, up 408% from the same period last year, equivalent to 48% of its prior full-year post-tax earnings. The results highlight Airtel Africa’s strong operational rebound, anchored by robust growth in its Nigerian market and accelerating demand for data and mobile money services.
