The Nigerian business landscape has seen significant fluctuations in profitability during the first half of 2023.
A list of the top 11 most profitable companies during this period has emerged.
The companies represent various industries, from banking and finance to telecommunications and manufacturing.
Despite economic challenges, some have seen remarkable growth in profitability, while others have faced varying degrees of change.
These figures provide valuable insights into Nigeria’s corporate landscape in the first half of 2023.
Here is the list below:
1. UBA (United Bank for Africa)
- Profit: N403.647 billion
- Percentage Change: +370.73%
2. Zenith Bank Plc
- Profit: N350.360 billion
- Percentage Change: +169.50%
3. GTCO (Guaranty Trust Bank)
- Profit: N327.398 billion
- Percentage Change: +217.09%
4. Dangote Cement
- Profit: N239.863 billion
- Percentage Change: -9.45%
5. FBNH (First Bank of Nigeria Holdings)
- Profit: N206.261 billion
- Percentage Change: +213.83%
6. MTNN (MTN Nigeria Communications)
- Profit: N200.391 billion
- Percentage Change: -25.40%
7. Access Holdings
- Profit: N167.601 billion
8. ETI (Ecobank Transnational Incorporated)
- Profit: N150.315 billion
9. FBN Holdings Plc
- Profit: N157.9 billion
10. BUA Foods
– Profit: N109.381 billion
11. Stanbic IBTC (Stanbic IBTC Holdings)
– Profit: N82.985 billion
A cursory review of the ranking reveals that eight belong to the banking sector, 1 represents the telecommunications industry, one is from the cement-producing firms, and one is from the consumer goods sector.
