Nigeria strengthened its dominance in the 2026 ranking of West Africa’s biggest companies, claiming 16 of the region’s top 20 firms. Last year, the country had 15. In contrast, Côte d’Ivoire dropped from four entries to three, while Ghana contributed one company. Airtel Africa retained first place, while MTN Nigeria Communications surged from sixth to second after its market value jumped from $3.4 billion to $11.6 billion. Bua Foods also recorded rapid growth, climbing to third place with a valuation of $10.4 billion. Nigeria’s largest companies are now collectively worth $82.1 billion, more than double last year’s figure, helped by stronger economic growth, rising oil prices, and a more stable naira. Telecoms, banking, and construction firms drove much of the expansion.
African Business
