MTN Nigeria Market Value Surges N93.6 Trillion Post Reclassification

Following Nigeria's reclassification from an unclassified frontier market by FTSE Russell on April 7, 2026, MTN Nigeria Communications Plc (NGX: MTNN) and 12 other companies experienced a significant market value increase of N93.6 trillion. As of April 17, 2026, MTN's market valuation appreciated by N1.36 trillion, closing at N17.32 trillion with a stock price of N825.00 per share, reflecting an 8.55% increase.

The company reported a profit of N1.7 trillion for the 2025 financial year, marking a 408.2% increase from a loss of N550.3 billion in 2024, with revenues reaching N5.2 trillion, a nearly 55% increase from the previous year. Other companies like BUA Foods (NGX: BUAFOODS) and Dangote Cement (NGX: DANGCEM) also saw substantial gains.

The Nigerian Exchange Group (NGX: NGXGROUP), led by CEO Temi Popoola, emphasized the importance of market infrastructure and investor access in sustaining this momentum and improving market classification.