Dangote Cement Outpaces BUA Foods and MTN as Valuation Nears Historic N20 Trillion

Dangote Cement is on track to set a new record as the first listed company to reach a valuation of N20 trillion, leaving its closest rivals for market dominance.

Africa’s largest cement producer saw its valuation surge to N19.91 trillion on Monday, up from N18.36 trillion on Friday, driven by an 8.46% jump in its share price. 

BUA Foods currently stands as the second most valuable company at N17.41 trillion, closely followed by MTN Nigeria Communications at N17.21 trillion. 

Dangote Cement previously set a record in January 2024 as the first listed company to cross the N10 trillion mark. MTN, BUA Foods, BUA Cement and Airtel Africa later joined the N10 trillion club.