Nigeria is the largest economy in Africa, topping the likes of South Africa to achieve the feat.
The population of Nigeria is estimated to be around 200 million, and this population is highly attractive to investors and business owners.
Crude oil is the major generator of revenue for Nigeria and it is no suprising that richest companies in Nigeria are mostly found in oil and gas sector, finance and manufacturing.
These top performing companies are raking billions of dollars in revenue annually while expanding their operations base both in and outside Nigeria.
Shell Nigeria, a subsidiary of Royal Dutch Shell, a global group of energy and petrochemicals companies is the richest company in Nigeria.
In this article richest companies in Nigeria will be discussed. These are Nigeria companies with highest and biggest annual revenues.
Richest Companies In Nigeria
Shell Nigeria, a subsidiary of Royal Dutch Shell, a renowned world energy company is ranked the richest company in Nigeria.
Shell has been active in Nigeria since 1937 and is credited as one of the major players in the development of Nigeria petroleum Industry.
The company is focused on onshore and shallow water oil and gas production in the Niger Delta.
In the year 2019, Shell paid Nigeria government a total of about $5.63 billion.
The payment represents the largest payout out of a total $22.63 billion the company said it made to about 28 host-governments covering countries where it has exploration and production activities around the world.
Mobil Nigeria is a top energy provider and chemical manufacturers in Nigeria.
The company is a subsidiary of ExxonMobil, one of the world’s largest publicly traded energy providers and chemical manufacturers.
It is regarded as the second largest oil production company in Nigeria after Shell.
The energy company operates on top Nigeria oil fields in Akwa Ibom and Delta states.
Nigerian National Petroleum Corporation (NNPC)
This is Nigeria Federal government owned oil company. The company also regulates the activities of oil companies operating in Nigeria.
NNPC is into both upstream and downstream sectors of oil and gas production in Nigeria.
NNPC is into partnership with top foreign oil companies in Nigeria ans also own some percentage of these top energy firms.
Some of those companies includes, Shell, Chevron, ExxonMobil, Agip etc. NNPC is one of the richest companies in Nigeria though owned by government.
It is also one of the most sought after oil companies in Nigeria by applicants.
Telecommunication giant, MTN Nigeria is one of the wealthiest companies in Nigeria.
The telecommunication giant control over 51% total market share of Nigeria telecommunication subscribers.
The company is valued at over N2.4 trillion. In the year 2019,MTN Nigeria made over N1.2 trillion service revenue.
Dangote Cemented, a subsidiary of Dangote Group is one of the richest and most valuable companies in Nigeria.
The company is multinationals cement manufacturer and distribution company.
In the year 2019, Dangote Cement made over N610.2 billion in revenues.
Though down from the previous year, it still represent the biggest among top companies in Nigeria.
One of biggest revenue generating companies in Nigeria is Nigeria Breweries.
The companies is major producer of alcohol and softdrinks in Nigeria.
In the year 2019, Nigeria Breweries made a mouth watering N323 billion as net revenue.
More On Richest Companies In Nigeria
Another telecommunication giant Airtel is now rated one of the richest companies in Nigeria with a very high revenue generation.
For the year ended March, 2020, Airtel Nigeria garnered $1.37 billion in revenues.
Zenith Bank, one of top commercial banks in Nigeria made it to the list of richest companies in Nigeria.
The top performing Bank in Nigeria made N208.8 billion profit after tax in 2019. This makes Zenith the biggest income generating bank.
Another new generation Nigeria bank Guaranty Trust Bank made it to the list of top most rich Nigeria companies with profit after tax which stood at N196. 8 billion.
Access Bank Plc
Access Bank plc pulled off jaw dropping merger when it acquired Diamond Bank, top Nigeria bank.
The Bank is one of the most affluent Nigeria companies making N97. 5 billion after tax for the year 2019.