Nigerian Potentially Undervalued Companies

Dangote Cement

Market Cap: ₦7.1t

Engages in the preparation, manufacturing, distribution, and sale of cement and related products in Nigeria.

Guinness Nigeria

Market Cap: ₦212.0b

Engages in brewing, packaging, marketing, and selling whisky, vodka, liqueur, gin, spirits, beers, non-alcoholic drinks, and ready-to-drink products primarily in Nigeria.

Eterna

Market Cap: ₦54.1b

An integrated energy company, manufactures and sells lubricating oils and petrochemicals in Nigeria.

United Bank for Africa

Market Cap: ₦1.8t

Primarily provides corporate, commercial, and retail banking services in Nigeria, rest of Africa, and internationally.

CWG

Market Cap: ₦41.4b

Engages in the supply, installation, integration, maintenance, and support of computer equipment, e-payment hardware, and ancillary equipment in Nigeria, Ghana, Uganda, and Cameroon.

John Holt

Market Cap: ₦3.9b

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

NCR (Nigeria)

Market Cap: ₦648.0m

Provides technology and services that help businesses to connect, interact, and transact with customers in Nigeria.

MRS Oil Nigeria

Market Cap: ₦53.5b

MRS Oil Nigeria Plc markets and distributes refined petroleum products in Nigeria.

First HoldCo

Market Cap: ₦1.2t

Provides commercial banking, investment banking, corporate banking, and other financial services in Nigeria and internationally.

ABC Transport

Market Cap: ₦10.5b

Provides road transportation and logistics services in Nigeria and Ghana.

UH Real Estate Investment Trust

Market Cap: ₦12.0b

n/a

Stanbic IBTC Holdings

Market Cap: ₦1.3t

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

Nigerian Aviation Handling

Market Cap: ₦191.0b

Provides aircraft and cargo handling, passenger handling, passenger profiling, and crew transportation services in Nigeria.

Guaranty Trust Holding

Market Cap: ₦2.4t

Operates as a financial holding company for Guaranty Trust Bank Limited that provides commercial banking services in Nigeria, Ghana, Gambia, Sierra Leone, Liberia, Cote D'Ivoire, Kenya, Uganda, Rwanda, Tanzania, and the United Kingdom.

Honeywell Flour Mills

Market Cap: ₦236.7b

Manufactures and markets wheat-based products in Nigeria.

Lafarge Africa

Market Cap: ₦1.7t

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

Chemical and Allied Products

Market Cap: ₦49.9b

Manufactures and sells paints and coatings in Nigeria.

Zenith Bank

Market Cap: ₦2.9t

Provides banking and other financial services to corporate and individual customers in Nigeria, rest of Africa, and internationally.

Presco

Market Cap: ₦1.2t

Engages in the oil palm plantations development, palm oil milling, palm kernel processing, and vegetable oil refining businesses in Nigeria and Ghana.

Access Holdings

Market Cap: ₦1.3t

Operates as the financial holding company of Access Bank Plc that provide various banking products and services in Nigeria, rest of Africa, and Europe.