25 Firms Dominate NGX with 89.96% Market Share

As of April 30, 2026, 25 blue-chip firms collectively represent 89.96% of the Nigerian Exchange's (NGX) total market capitalization of N155.99 trillion. MTN Nigeria Communications PLC leads with a market valuation of N19.21 trillion, following a significant share price increase from N511 at the end of 2025 to N915 per share, marking a 79.06% appreciation.

This surge is attributed to a turnaround in earnings, with the company reporting a profit before tax of N1.7 trillion in 2025, reversing a loss of N550.3 billion in 2024. Other notable firms include BUA Foods PLC at N17.41 trillion, Dangote Cement PLC at N16.37 trillion, and BUA Cement PLC at N14.16 trillion.

The market's bullish trend is supported by improved macroeconomic indicators and policy reforms, with analysts predicting increased foreign portfolio inflows following Nigeria's re-entry into the FTSE Frontier Market Index, potentially bringing in between $840 million to $1.04 billion.