The Nigerian Exchange (NGX) recorded strong growth in 2025 as total market capitalisation rose from N62.7 trillion at the end of 2024 to N99.38 trillion by December 31, 2025, and further climbed to about N106 trillion as of January 20, 2026, driven largely by large-cap SWOOT stocks, with the top 10 companies jointly valued at roughly N65 trillion, representing 65.5% of the total market, according to a report from Nairametrics.
Top 10 companies by market capitalisation in 2025:
- BUA Foods – N14.38 trillion
- MTN Nigeria – N10.72 trillion
- Dangote Cement – N10.27 trillion
- Airtel Africa – N8.53 trillion
- BUA Cement – N6.04 trillion
- Seplat – N3.48 trillion
- GTCO – N3.30 trillion
- Aradel – N2.91 trillion
- Geregu Power – N2.85 trillion
- Zenith Bank – N2.53 trillion