Airtel Africa Regains Crown as Nigeria’s Most Valuable Firm 11 Months After Losing It

*Telco’s market cap tops N18 trillion

Airtel Africa has regained its position as Nigeria’s most valuable listed company, 11 months after the country’s second biggest telecommunications operator lost the top spot.

Shares of the Lagos-listed unit of India’s Bharti Airtel rose the daily limit of 10% on Tuesday, lifting its market capitalisation to N18.02 trillion — above BUA Foods’ N16.9 trillion.

Airtel last held the crown on 29 July last year, when it was overtaken by its closest rival, MTN.