Nigerian High Return On Equity, Low Debt

BUA Cement

Market Cap: ₦5.1t

Engages in the manufacture and sale of cement under the BUA Cement brand in Nigeria and internationally.

Lafarge Africa

Market Cap: ₦2.1t

Manufactures, markets, and sells cement and other cementitious products in Nigeria.

Stanbic IBTC Holdings

Market Cap: ₦1.6t

A financial holding company, provides banking and other financial services to individuals, businesses, institutions, and corporations in Nigeria and internationally.

Wema Bank

Market Cap: ₦470.4b

Provides banking and other financial services to corporate and individual customers in Nigeria.

Transnational Corporation of Nigeria

Market Cap: ₦468.5b

Together with the subsidiaries, engages in the power, oil and gas, and hospitality businesses in Nigeria.

Beta Glass

Market Cap: ₦291.6b

Manufactures, distributes, and sells glass bottles and containers in Nigeria and internationally.

Nascon Allied Industries

Market Cap: ₦263.2b

Manufactures and sells refined, edible, and grade salt in Nigeria.

Custodian Investment

Market Cap: ₦239.7b

Through its subsidiaries, provides insurance products and services in Nigeria.

Jaiz Bank

Market Cap: ₦203.3b

Provides non-interest banking services in Nigeria.

Honeywell Flour Mills

Market Cap: ₦182.4b

Manufactures and markets wheat-based products in Nigeria.

NEM Insurance

Market Cap: ₦141.0b

Provides general insurance products and services to corporate and individual customers in Nigeria and Europe.

Fidson Healthcare

Market Cap: ₦98.7b

Manufactures and distributes pharmaceutical products in Nigeria.

Vitafoam Nigeria

Market Cap: ₦98.3b

Engages in the manufacture, marketing, and distribution of flexible and rigid foam, fibre products, and textile linens in Nigeria and other West African countries.

Mutual Benefits Assurance

Market Cap: ₦78.2b

Engages in non-life insurance and risk management services to organizations and private individuals in Nigeria, Liberia, and Niger Republic.

Chemical and Allied Products

Market Cap: ₦57.8b

Manufactures and sells paints and coatings in Nigeria.

Consolidated Hallmark Holdings

Market Cap: ₦44.3b

Through its subsidiaries, primarily provides insurance products and services in Nigeria.

Academy Press

Market Cap: ₦6.7b

Provides printing services in Nigeria.

Eunisell Interlinked

Market Cap: ₦6.0b

Develops, manufactures, and markets various polymeric, porcelain, and metallic products in Nigeria.

John Holt

Market Cap: ₦2.9b

John Holt Plc, together with its subsidiaries, assembles, sells, leases, and services power equipment in Nigeria.