NGX MegaCaps Gain N46.69 Trillion in Market Value

Between December 31, 2025, and August 31, 2026, nine listed MegaCap companies on the Nigerian Exchange (NGX) added N46.69 trillion in market value. MegaCap stocks are defined as companies with a market capitalization of N5 trillion and above.

The combined market capitalization of these companies rose from N60.90 trillion to N107.59 trillion, marking a 76.7% increase. Airtel Africa recorded the largest increase, adding N15.15 trillion, with its market capitalization growing from N8.53 trillion to N23.68 trillion, a 177.5% rise.

Dangote Cement followed with a N7.17 trillion increase, raising its market cap from N10.28 trillion to N17.45 trillion. MTN Nigeria added N6.21 trillion, increasing its market value from N10.73 trillion to N16.94 trillion.

Other notable increases included First HoldCo (N4.59 trillion), BUA Cement (N4.42 trillion), and Seplat Energy (N3.91 trillion). BUA Foods was the only decliner, with a market cap drop of N689 billion.

The overall NGX equity market capitalization increased from N99.38 trillion to N157.74 trillion, with the nine megacaps contributing 79.9% of this growth.