2022 wasn’t really a good business year for most Nigerian businesses. This, of course, doesn’t mean that there aren’t companies that earned good amount of money. In this post, we’ll be examining the 10 biggest and most profitable Nigerian companies 2022.
It is pertinent you know them because they’d likely perform well for the next year or other years. A majority of the businesses are well-known in Nigeria. Their products and services are also in every nook and cranny of Nigeria.
Here, below, we’ll be presenting the list.
10 Biggest and Most Profitable Nigerian Companies 2022
1. MTN Nigeria
MTN Nigeria stand at no. 1 spot as the most profitable Nigerian company 2022. The company had a 22.12% increase in profit to 269.04 billion naira in the first 9 months of 2022.
It has a market capitalization of 4.36 trillion naira. Each MTN owned share earned dividends of 13.30 naira in 9 months in 2022.
2. Dangote Cement PLC
Dangote Cement PLC stands at no. 2 spot. The company has a market capitalization of 4.4 trillion naira. It earned 213.31 billion naira in the first 9 months. Each share in company earned 12.41 naira for these 9 months.
3. Zenith Bank
Zenith Bank has been consistent on the list of Nigeria’s most profitable businesses. It has a market capitalization of 770.78 billion naira. It declared a profit of 174.33 billion naira for the first 9 months of 2022. Each share owned in the company earned 5.55 naira.
4. Access Holdings
Access Holdings reported a profit of 137.01 billion naira in the nine-month period. They have a market capitalisation of N307.67 billion and declared earnings per share of 388 billion naira in the period under review.
5. Guaranty Trust Holding Company
Guaranty Trust Holding Company posted a profit after tax of 130.35 billion naira in nine months. Their market capitalization is at 676.92 billion naira. Each share earned 25.58 naira under the time in review.
6. Ecobank Transnational
The profit posted by Ecobank is 117.41 billion naira in the nine-month period under review. The business has a market capitalization of 201.85 billion naira. Each share earned 335.58 naira.
7. United Bank for Africa
United Bank of Africa reported a profit of 116.04 billion naira in the nine-month period. The share earning was 3.27 naira per share. The market value of the bank stands at 259.92 billion naira.
8. FBN Holdings
FBN Holdings profit for the nine-months period was declared as 91.29 billion naira. The share earning amounted to 2.51 naira per share. The business has a market capitalization of 391.26 billion naira.
9. BUA Cement
BUA Cement has the market valuation of 3.31 trillion naira. For the first nine months of 2022, they declared the profit of 74.01 billion naira. Each share in the company gained 219 naira for the months under review.
10. BUA Foods
BUA Foods declared a profit of 68.76 billion naira in the first nine months of 2022. The business has a market capitalisation of 1.31 trillion naira, and declared earnings per share of N3.82 per share in the nine-month period of 2022.
EVURA Verdict on the List
EVURA, as the chief financial and economic reporter in Southeast Nigeria, finds it hard to state that none of the businesses here mentioned here is headquartered in the Southeast region. The state governments of Southeast states need to do more about growing the businesses in their regions. More needs to be done in enacting good economic policies, funding and assisting businesses, and many more. This is to reduce the economic stagnation in the region.
This post has done a justice to the 10 biggest and most profitable Nigerian companies 2022. It is pertinent you know them to be abreast of the latest information concerning doing business in Nigeria. You can also look towards buying the shares and stocks of these companies.
Source: Business Day Nigeria