Substance Nigeria
Top 50 Nigerian Companies
The Substance Nigeria 50 ranks the top 50 companies in Nigeria based on total revenue for their respective fiscal years ending on or before March 31, 2024. The methodology is designed to align with international business rankings while considering the unique characteristics of Nigeria’s corporate landscape. To be eligible for ranking, companies must publicly disclose financial data and report part or all of their figures to a recognized government agency, such as the Corporate Affairs Commission (CAC), the Securities and Exchange Commission (SEC), or the Central Bank of Nigeria (CBN).
| Company | Total Revenue | Profit |
|---|---|---|
| Flour Mills of Nigeria | 2,291,561,452 | 3,544,753 |
| Olam Group | 26972049 | 67,176 |
| Presco Plc | 128,568,144 | 78,373,215 |
| Nestlé Nigeria Plc | 406,972,172 | -252,526,797 |
| Dangote Sugar Refinery | 0 | 0 |
| Honeywell Flour Mills Plc | 0 | 0 |
| Unilever Nigeria Plc | 39,939,641 | 6,571,702 |
| Cadbury Nigeria Plc | 89,529,217 | -11,855,899 |
| PZ Cussons Nigeria Plc | 152249309 | -7614976 |
| BUA Foods | 332,011,095 | 53,809,233 |
| Chevron Nigeria Limited | 150,566 | 14,490 |
| Seplat Energy Plc | 715300 | 245000 |
| Total Energies Nigeria | 793,904,358 | 27,422,139 |
| Seplat Energy Plc | 1,070,900 | 411300 |
| ExxonMobil Nigeria | 266,159 | 26,070 |
| Conoil Plc | 249,130,924 | 11,335,217 |
| Oando Plc | 3,189,623,158 | 76,295,571 |
| Guaranty Trust Bank (GTB) | ||
| First Bank of Nigeria | 873,939 | 526,279 |
| Zenith Bank Plc | 2,478,059 | 701,879 |
| United Bank for Africa (UBA) | 1,798,894 | 525,313 |
| Access Bank Plc | ||
| Fidelity Bank Plc | 754,815 | 222,318 |
| Stanbic IBTC Bank | 174000 | 20,827 |
| Wema Bank Plc | 229,114,772 | 52,738,056 |
| Union Bank of Nigeria | ||
| MTN Nigeria | 2,370,237 | -713,630 |
| Jumia Nigeria | ||
| Dangote Cement | 1,531,475 | 1,090,774 |
| BUA Cement Plc | 583,405,357 | 48,970,234 |
| Lafarge Africa Plc | 445,730,179 | 58,320,801 |
| Nigerian Breweries Plc | 710,871,501 | -149,500,558 |
| International Breweries Plc | 343,445,599 | -112,814,810 |
| Guinness Nigeria Plc | 299,489,774 | -54,766,776 |
| Julius Berger Nigeria Plc | 405,002,637 | 12,310,665 |
