Zenith, MTN, Dangote Cement, and GTCO Lead Nigeria’s Most Profitable Companies

Zenith Bank Plc, Dangote Cement Plc, and Guaranty Trust Holdings Company (GTCO) are the most profitable firms in Nigeria, according to data gathered by MoneyCentral.

There has been an improvement in the profits of companies that sits the NGX as some of them are set to use their renewed profit to fix balance sheets that had been battered by foreign exchange revaluation losses.

The relative stability in the foreign exchange market that underpinned economic recovery as well as a price adjustment to make up for rising input costs are major drivers of growth.

Of course, the earnings growth is concomitant with the economic recovery and a benign stock market as foreign investors are gradually having confidence in the equity market.

According to the National Bureau of Statistics (NBS), in the second quarter of 2025 (Q2-25), the Nigerian economy grew by 4.23 percent year on year (YOY) in real terms. This marks an improvement from the 3.48 percent YOY growth recorded in Q2-24, and the 3.13 percent YOY growth observed in Q1-25.

Nigeria’s annual inflation rate eased for the sixth month to 18.02 percent in September 2025, marking the softest reading since May 2022.

The NGXASI year to date (YTD) stood at 44.60 percent as at November 11, 2025.

Zenith Bank posted net income of N764.20 billion as at September 2025, this is followed by MTN Nigeria, (N750.18 billion); Dangote Cement, (N743.12 billion); Guaranty Trust Holding Company Plc, (N699.64 billion); United Bank for Africa (N537.52 billion); Airtel Africa (N526.40 billion); FirstHolCo, (N450.54 billion); Access Holdings, (447.54 billion); Stanbic IBTC Holdings, (N278.95 billion) and Ecobank (N268.52 billion).

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