BUA Cement Becomes Fourth Firm to Hit N10trn Valuation, Overtakes Airtel Africa 

BUA Cement has become the fourth company on the Nigerian Exchange Limited (NGX) to cross the N10 trillion valuation mark, after its share price jumped by the maximum daily limit of 10 percent on Monday.

The cement producer now joins Dangote Cement, MTN Nigeria Communications and its sister subsidiary BUA Foods in the elite club of companies with a market capitalisation of at least N10 trillion.

BUA Cement, Nigeria’s second-largest cement maker after Dangote, saw its market value climb to N10.06 trillion from N9.14 trillion at the close of trading on Friday. That surge enabled it to overtake Airtel Africa and emerge as the fourth most valuable company on the NGX. Airtel Africa’s market cap stood at N8.53 trillion.

The stock has gained more than 20 percent since last Thursday, when BUA Cement was valued at N8.37 trillion. Its share price has risen to N297 from N247.30 per share over that period.

Dangote Cement was the first listed company to hit the N10 trillion milestone in January 2024, with MTN reaching the threshold on 1 August 2025 and BUA Foods following six days later.

MTN remains the most valuable company on the Nigerian bourse with a market cap of N16.75 trillion, followed by BUA Foods at N14.36 trillion and Dangote Cement at N13.55 trillion.