Airtel overtakes MTN Nigeria as second most valuable firm

Airtel Africa Plc has overtaken MTN Nigeria Communications Plc to become the second most valuable firm on the Nigerian stock market.

Dangote Cement Plc is the biggest firm by market capitalisation, which stood at N5.28 trillion on Tuesday.

Airtel Africa’s market value stood at N5.26 trillion following Friday’s 8.53 percent rise in its share price, while that of MTN Nigeria closed at N5.25 trillion. 

The total market cap of companies listed on the Nigerian Exchange Limited dipped to N36.80 trillion from N36.87;trillion on Monday.