Nigeria’s trillion-naira stocks are multiplying and tightening their grip on the market. Twenty-five companies out of the 148 listed firms on the Nigerian Exchange Limited now account for N111.11 trillion in value, led by banks, telecoms, and cement giants.
Yet capital is not evenly spread. It clusters around companies with pricing power, export reach, regulated income streams, or balance sheets large enough to absorb shocks.
Banks form the market’s core. Nine lenders sit in the trillion-naira bracket, with a combined N18.8 trillion in ma
