MTN Nigeria Becomes Second Firm to Hit N10trn Valuation

MTN Nigeria Communications has emerged as the second listed company to hit the N10 trillion market capitalisation as its share price rose further on Friday.

In January last year, Dangote Cement made history as the first company on the Nigerian Exchange Limited to reach a valuation of N10 trillion but has since dropped below the figure.

The country’s biggest telecommunications company MTN saw its market valuation rise to N10.08 trillion from N9.98 trillion on Thursday.

Markets Reporters reported on Tuesday that the telco regained its crown as the most valuable company on the stock exchange on Tuesday as it surpassed its biggest rival Airtel Africa.