Nigeria's Top 100 Companies

BusinessWorld Celebrates Nigeria’s 100 Largest Companies

Eko Hotel & Suits, Victoria  Island, Lagos will  this  Friday  be agog with activities  as BusinessWorld, a leading business weekly in the country officially presents  awards to  the Nigerian companies that came tops  in the performance ranking of  top 100 quoted  companies in Nigeria as contained in 2011 edition  of BusinessWorld  100  publication.
The award, which  is part of BusinessWorld’s  mission to contribute meaningfully to  the economic development of the country by encouraging entrepreneurship and high  performance in the various sectors of the nation’s economy, is  to  celebrate companies that scaled through  the rigorous assessment employed by the newspaper to identify companies  that are making great impact in the  current quest to return the nation’s economy to growth  in their various  sectors.
The corporate leaders are  First Bank Plc, the Largest Company in Nigeria; Dangote Group, The Most Profitable Company in Nigeria; Julius Berger Plc, The Highest Employer of Labour; Oando Plc, The Highest Revenue Earner; Zenith Bank Plc, The Most Capitalised Company in Nigeria and Dangote Cement, The Most Valuable Company in Nigeria.
Sectorial Leaders  are First Bank Plc for  the banking sector, AIICO Insurance Plc, for the insurance sector, Oando Plc for the oil and gas sector and Dangote Cement Plc which clinched  the award for the manufacturing  sector.
Senator  Gbenga  Obadara, a Senator of the Federal  Republic of Nigeria  is  the chairman of the occasion while Professor Dora Akunyili, former information and communications minister is  the guest speaker.


BusinessWorld 100: Fortunes of Nigeria’s Top Companies Nosedive

THE global economic crisis took a toll on Nigeria’s largest 100 companies in 2009. According to the 2009 edition of BusinessWorld 100, an annual publication of BusinessWorld newspaper that focuses on the performance of publicly-held companies in Nigeria, the fortunes of Nigeria’s largest 100 (quoted) companies declined seriously during the year under review.
The most affected of all the performance indices of Nigeria’s top companies is profit. On aggregate, the top 100 companies posted a whopping loss of N961.35 billion compared to a handsome profit of N508.49 billion in 2008 and N319.92 billion in 2007. The major contributors to the loss are the banks, especially the ones bailed out by the Central Bank of Nigeria (CBN) in 2009. After making provision for loan loss, all the rescued banks posted huge losses.
And after a quantum leap from N10,751.84 billion in 2007 to N17,980.69 billion in 2008, the aggregate assets of the 100 largest companies declined to N16,642.93 billion in 2009. This decline was mainly accounted for by the shrinking of the balance sheet of banks due to provision for toxic assets.
Total shareholders’ funds of the top companies which rose from N1,915.13 billion in 2007 to N3,345.38 billion in 2008 decreased to N1,630.86 billion in 2009, while the number of people employed by the companies came down from 170,249 in 2008 to 142,274 in 2009. Market capitalization of the companies also dropped from N5,292.76 billion in 2008 to N3,981.65 billion in 2009.
First Bank of Nigeria Plc, with total assets of N2,172.35 billion emerged as Nigeria’s largest company, displacing Zenith Bank Plc. Nigerian Breweries Plc emerged the most profitable company in Nigeria while Oando Plc and Julius Berger Nigeria Plc remained the highest revenue earner and the highest employer of labour, respectively.