Nigerian Potentially Undervalued Companies

United Bank for Africa

Market Cap: ₦1.5t

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

Zenith Bank

Market Cap: ₦2.5t

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

Nascon Allied Industries

Market Cap: ₦280.0b

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

Access Holdings

Market Cap: ₦1.1t

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

Nigerian Aviation Handling

Market Cap: ₦207.6b

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

Fidson Healthcare

Market Cap: ₦91.8b

Manufactures and distributes pharmaceutical products in Nigeria.

Guinness Nigeria

Market Cap: ₦365.8b

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

CWG

Market Cap: ₦45.3b

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

ABC Transport

Market Cap: ₦8.2b

Provides road transportation and logistics services in Nigeria and Ghana.

First HoldCo

Market Cap: ₦1.3t

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

Vitafoam Nigeria

Market Cap: ₦104.3b

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

Honeywell Flour Mills

Market Cap: ₦144.7b

Manufactures and markets wheat-based products in Nigeria.

Presco

Market Cap: ₦1.5t

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

Dangote Cement

Market Cap: ₦9.0t

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

Beta Glass

Market Cap: ₦222.0b

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

Cadbury Nigeria

Market Cap: ₦132.0b

Engages in manufacturing and selling branded fast moving consumer goods in Nigeria.

FTN Cocoa Processors

Market Cap: ₦19.1b

Engages in the processing and sale of cocoa beans and palm kernel seeds in Nigeria.

Berger Paints Nigeria

Market Cap: ₦10.4b

Manufactures, distributes, and sells paints and allied products in Nigeria.

McNichols

Market Cap: ₦3.0b

Manufactures, packages, markets, and distributes food and beverage products in Nigeria.

Guaranty Trust Holding

Market Cap: ₦2.7t

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.

Lafarge Africa

Market Cap: ₦2.2t

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

Stanbic IBTC Holdings

Market Cap: ₦1.7t

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

Chemical and Allied Products

Market Cap: ₦59.5b

Manufactures and sells paints and coatings in Nigeria.

MTN Nigeria Communications

Market Cap: ₦9.9t

Provides broadband fixed wireless access, telecommunication, and mobile financial services in Nigeria.

PZ Cussons Nigeria

Market Cap: ₦158.8b

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