Nigerian Potentially Undervalued Companies

First HoldCo

Market Cap: ₦897.4b

Provides commercial banking, investment banking, corporate banking, and other financial services in Nigeria, the United Kingdom, and rest of Africa.

Lafarge Africa

Market Cap: ₦1.2t

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

United Bank for Africa

Market Cap: ₦1.2t

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

Nigerian Aviation Handling

Market Cap: ₦127.7b

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

Guaranty Trust Holding

Market Cap: ₦1.6t

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.

CWG

Market Cap: ₦19.9b

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

NCR (Nigeria)

Market Cap: ₦788.4m

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

MRS Oil Nigeria

Market Cap: ₦60.0b

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

May & Baker Nigeria

Market Cap: ₦12.1b

May & Baker Nigeria Plc, together with its subsidiaries, manufactures, sells, and distributes human pharmaceuticals, human vaccines, and consumer products in Nigeria.

ABC Transport

Market Cap: ₦3.0b

Provides road transportation and logistics services in Nigeria and Ghana.

Presco

Market Cap: ₦785.0b

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

Zenith Bank

Market Cap: ₦2.1t

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

Learn Africa

Market Cap: ₦2.6b

Engages in the publishing, distribution, and marketing of educational materials and textbooks for nursery, primary, secondary, and tertiary levels of learning in Nigeria.

Stanbic IBTC Holdings

Market Cap: ₦803.3b

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

UH Real Estate Investment Trust

Market Cap: ₦8.7b

n/a

TotalEnergies Marketing Nigeria

Market Cap: ₦252.9b

TotalEnergies Marketing Nigeria Plc markets and distributes refined petroleum products in Nigeria.

Academy Press

Market Cap: ₦2.0b

Provides printing services in Nigeria.

Ellah Lakes

Market Cap: ₦12.1b

Engages in the oil palm, cassava, soybean, maize, and rice plantation in Nigeria.

Ikeja Hotel

Market Cap: ₦21.6b

Engages in the operation of hotels and restaurants.

PZ Cussons Nigeria

Market Cap: ₦119.5b

Manufactures, distributes, and sells various consumer products and home appliances to wholesalers in Nigeria and internationally.

Aradel Holdings

Market Cap: ₦2.2t

An integrated energy company, engages in the exploration, production, refining, and distribution of oil and gas products in an integrated energy company, engages in the exploration, production, refining, and distribution of oil and gas products.

Guinness Nigeria

Market Cap: ₦175.2b

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

Nestlé Nigeria

Market Cap: ₦808.5b

Manufactures, markets, and distributes food products in Nigeria.

Nigerian Enamelware

Market Cap: ₦1.9b

Engages in the manufacturing, marketing, and sales of enamelware products in Nigeria.

Honeywell Flour Mills

Market Cap: ₦88.0b

Manufactures and markets wheat-based products in Nigeria.

Access Holdings

Market Cap: ₦1.1t

Through its subsidiary, Access Bank Plc, provides various banking products and services in Nigeria, rest of Africa, Europe, and internationally.