BUA Foods Overtakes MTN Again, Returns as Nigeria’s Most Valuable Firm

Less than three months after it lost its crown as the most valuable listed company to MTN Nigeria Communications, BUA Foods regained the top spot on Tuesday as its shares jumped 8.65 percent.

BUA Foods, a subsidiary of BUA Group, first surpassed the telecoms firm on 7 August last year when its market capitalisation crossed the N1 trillion threshold for the first time.

However, it slipped back to second place on 13 February this year as MTN’s valuation climbed to N14.88 trillion, ahead of BUA Foods’ N14.38 trillion.

On Tuesday, BUA Foods’ market capitalisation rose to N17.41 trillion, edging past MTN Nigeria’s N17.22 trillion, according to data from the Nigerian Exchange Limited.