At the close of trading on August 1, MTN Nigeria has crossed the N10 trillion market cap mark.
This is as the stock closed August 1 with a record high share price of N480, to hit a market cap of N10.077 trillion. MTN Nigeria is also the second company listed on the NGX to cross the N10 trillion mark, after Dangote Cement hit the mark in January 2024.
In January 2024, Dangote Cement hit a record high share price of N763, driving it to a market cap of N12.8 trillion. At the time, Dangote Cement became the first Nigerian publicly listed company to hit a market cap of $10 billion.
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MTN Nigeria has maintained a bullish trajectory throughout 2025, with its share price hitting record highs through much of July. Year-to-date, the stock has surged by 140 percent, climbing from N207.80 at the start of the year to N480 as of August 1, following a 1.69 percent gain on the day.
The rally has been fuelled by a significant turnaround in the company’s financial performance. In the first half of 2025, MTN Nigeria posted a net income of N414.9 billion, a stark contrast to previous losses. Its accumulated losses have now shrunk to N193 billion, down from N607 billion at the beginning of the year, raising investor expectations of a potential dividend payout for the full year.
In dollar terms, MTN Nigeria’s market capitalization stands at approximately $6.6 billion. Its performance has also had a positive ripple effect on its parent company, MTN Group, which is listed on the Johannesburg Stock Exchange. The group’s market capitalization has climbed to $15.6 billion, with its stock appreciating 69.2 percent year-to-date.
