Top 10 Most Profitable Companies in Nigeria 

Many Nigerian companies made huge profits despite economic challenges like inflation, high fuel prices, and forex instability. 

These companies were able to grow by using smart strategies, cutting costs, and offering products or services that many people need. 

Here are the top 10 most profitable companies in Nigeria in 2024, based on how much money they made and how well they performed.

1. Presco PlcPresco is a company that grows and sells palm oil. In the first half of 2024, it made over ₦38.9 billion in profit. That’s 158% more than what it made the year before. Its strong results came from good business management and high demand for palm oil.

2. Transcorp PowerThis company is involved in electricity generation. Transcorp Power made ₦14.5 billion in profit in the first half of 2024. It had a return on equity (ROE) of 48.2%, which means it made a lot of money from the money invested in it.

3. Okomu OilLike Presco, Okomu Oil makes palm oil and rubber. In 2024, it made ₦20.2 billion in profit despite facing security issues. It continued to grow because of high product demand and smart business decisions.

4. Consolidated Hallmark HoldingsThis financial services group recorded ₦7.5 billion in profit and had an ROE of 47.6%. Its profits mostly came from higher income on investments and changes in the value of some assets.

5. AXA Mansard InsuranceThis insurance company had a return on equity of 47.3%. It managed its funds well and remained one of the most profitable in the insurance sector in 2024.

6. Airtel AfricaAirtel Africa, one of the top telecom companies in Nigeria, was valued at about ₦8.1 trillion in 2024. Its profit grew as more people used its internet and mobile services, especially with more demand for 4G and 5G data.

7. BUA FoodsBUA Foods is a big name in the food industry. It was valued at ₦7.47 trillion in 2024. It makes products like sugar, flour, and pasta. Its profit increased due to high demand for food and its focus on local production.

8. Dangote CementDangote Cement is the biggest cement producer in Nigeria. It was valued at ₦6.8 trillion in 2024. The company made good profit through strong sales and expansion into other African countries.

9. MTN NigeriaMTN Nigeria made big profits by offering telecom services to millions of Nigerians. It was valued at ₦4.9 trillion. The company’s wide coverage and digital services helped it stay strong in the market.

10. Seplat EnergySeplat is an oil and gas company that was valued at ₦3.35 trillion. In 2024, it made good profits by increasing its oil production and buying new energy assets.