The Nigerian technology sector is booming. In recent years, the country has seen a significant increase in investment in the tech sector, with more and more startups and established tech companies springing up. This trend will continue in the coming years, with Nigeria becoming one of Africa’s leading destinations for tech investment. So, which are the top Nigerian companies 2022 to watch out for in the coming years? Here are our picks for the top Nigerian tech companies of 2022!
The Top Nigerian Companies in 2022:
1. Airtel Africa
Airtel Africa is a global company that operates in 14 countries across Africa. The company focuses on providing mobile money and telecommunications services to its customers. Bharti Airtel, an Indian provider of communication services, owns most of Airtel Africa. Airtel Africa offers national and international mobile voice and data services and mobile money services.
According to data from the Nigerian Stock Exchange and based on the company’s share price performance over the first six months of the year, Airtel Africa has overtaken MTN Nigeria to become the most valuable company in Nigeria.
In addition, Airtel’s market value climbed by 81.38 percent during the six months. This resulted in a capitalization rise of N2.92 trillion as of December 2021.
2. Dangote Cement
Dangote Cement is the largest cement producer in Sub-Saharan Africa, with an annual production capacity of 48.6 million tonnes spanning ten countries.
Despite an increase in the price of its shares, Dangote Cement was dethroned by Airtel Africa. The market capitalization of this giant cement manufacturing company rose from N4.38 trillion in December 2021 to N4.69 trillion in June 2022, representing a growth of N306.73 billion over the specified period.
3. MTN Nigeria
MTN Group Limited is a South African mobile telecommunications company operating in several countries across Africa and Asia. As of the end of 2020, MTN had 280 million customers, making it the most popular mobile network service provider in Africa and the sixth most popular in the entire globe. The company generates nearly one-third of its total sales in Nigeria, holding a market share of approximately 35 percent.
MTN Nigeria has a market valuation of N4.68 trillion as of the conclusion of the year’s first half, falling from second place at the end of the previous year to third place. Despite a 16.75% growth in its market value from N4.01 trillion, it could not claim the first spot in 2022.
4. BUA Cement
BUA Cement is a Nigerian company that manufactures and distributes cement products throughout the country. After Dangote Cement, it is the second largest cement manufacturer in Nigeria.
BUA Group entered the cement business in 2008 when the government permitted them to sell cement to a limited number of enterprises. Before acquiring a controlling stake in the failing Edo Cement facility, BUA commenced operations by re-bagging cement clinker.
BUA Cement, a Nigerian cement firm, retained its fourth-place position with a market capitalization of N2.43 trillion after rising 7.23 percent in the first half of the year from the N2.27 trillion reported at the start of the year.
5. Nestle Nigeria
Nestle Nigeria is a publicly listed company specializing in food and beverages with headquarters in Lagos. The business was established in 1961 and operated under Nestle Products Nigeria Limited. The factory is located in Agbara Industrial Estate.
With a market capitalization of N1.11 trillion, Nestle Nigeria ranks sixth among the most valuable firms on the Nigerian Exchange. During the first half of the year, the company’s valuation decreased by 10.1% from the N1.14 trillion declared as of December 31, 2021.
Summing it up:
The best Nigerian companies are the ones with the most advanced technology. They are often the companies that are incredibly globalized and have the most advanced infrastructure. These companies are often at the forefront of new ideas and drive the economy of the country.