The Digest:
MTN Nigeria’s market capitalisation has soared to N10.07 trillion, overtaking Airtel Africa to become the most valuable company on the Nigerian stock market. The increase of N1.45 trillion was driven by a 16.9% surge in MTN’s share price from N410.6 to N480 per share over five days. This marks the telco’s leap to the top, following Dangote Cement’s January 2024 achievement of N12.8 trillion.
Key Points:
- MTN’s market capitalisation reaches N10.07 trillion, a N1.45 trillion increase
- MTN overtakes Airtel Africa to become the most valuable Nigerian company
- Dangote Cement remains in second place with a valuation of N8.91 trillion
- BUA Cement’s market value rises to N8.70 trillion
- Airtel Africa remains at N8.68 trillion, holding the fourth position
- MTN’s 16.9% share price increase fuels the growth
- The surge follows strong demand for MTN’s shares
MTN’s rise reflects investor confidence, positioning the company as a leader in Nigeria's competitive telecom sector.
Sources: TheCable, Nigerian Exchange Limited
