5 Most Valuable Nigerian Companies In The World

2. MTN Nigeria Communications PLC (MTNN:NL)

Market Capitalization: $10.66 billion (₦4.93 trillion)

MTN Nigeria Communications PLC (MTNN:NL) is part of MTN Group, the biggest mobile network operator in Africa, with a subscriber base of 272 million customers across 19 countries.

MTN Nigeria Communications PLC (MTNN:NL) provides services to 75.2 million of these customers in the Nigerian market as of March 2022. The company contributes one-third to the top line of MTN Group and has a 35% market share in the Nigerian telecommunications market. The company reported record revenues of $4.34 billion (₦2 trillion) in 2022 which reflected a 21.6% YoY increase. MTN Nigeria Communications PLC (MTNN:NL) reported impressive revenue despite excluding 10 million subscribers that did not connect their National Identity Number (NIN) with their SIMs.