BREAKING: MTN Ng and Airtel Ng Ranks As The Most Capitalized Companies in Nigeria

In a recent data release by the Nigerian Stock Exchange, MTN Nigeria and Airtel Nigeria have emerged as the most capitalized companies in the country.

With market capitalizations of N5.56 trillion and N4.49 trillion respectively, these two telecom operators have taken the lead among the top 10 companies on the stock exchange.

The combined capital base of MTN Nigeria and Airtel Nigeria amounts to a staggering N10.5 trillion, giving the Information and Communication Technology (ICT) sector a notable advantage over other sectors.

Notably, the industrial goods sector, represented by Dangote and BUA with a combined capital of N7.98 trillion, and the consumer goods sector, represented by Nestle and BUA with N3.43 trillion, were surpassed by the ICT sector.

The financial sector secured a significant capital allocation of N2.11 trillion, followed by the oil and gas sector with N823.7 billion, and the utility sector with N750 billion. This highlights the substantial investments and growth potential within these sectors.

Over the past three years, the ICT sector has consistently outperformed other sectors in contributing to Nigeria’s Gross Domestic Product (GDP).

This trend is further emphasized by the Nigerian Communications Commission (NCC), which reported that the telecommunications industry has attracted investments exceeding $70 billion over the past 22 years....

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These guys really need to work on their poor network service. It created a scene here last week when a girl started crying, when she didn't see her 50k she deposited in to her palmpay account,whereas it was there.