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 (NGX: MTNN) 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 (NGX: BUAFOODS) at N17.41 trillion, Dangote Cement PLC (NGX: DANGCEM) at N16.37 trillion, and BUA Cement PLC (NGX: BUACEMENT) 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.