Nigerian Undervalued based on future growth

MTN Nigeria Communications

Market Cap: ₦9.1t

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

Dangote Cement

Market Cap: ₦8.6t

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

Zenith Bank

Market Cap: ₦2.8t

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

Guaranty Trust Holding

Market Cap: ₦2.3t

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: ₦1.9t

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

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.

Nestlé Nigeria

Market Cap: ₦1.5t

Manufactures, markets, and distributes food products in Nigeria.

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.

Nascon Allied Industries

Market Cap: ₦262.1b

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