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What a year! See Top 10 Nigerian Companies for 2021, with a Total Profit After Tax of Over N1 Trillion

  • In 2021, Dangote Cement and MTN has once again dominate the Nigerian stock exchange.
  • The two companies are among the top five in the exclusive club of companies with a market capitalization of over N1 trillion.
  • According to data from the Nigerian Exchange, these two companies led a group of ten in profit declarations.

Many Nigerian businesses will remember 2021 fondly, but for ten, it was a lovely year, especially after the difficult year that was 2020 due to the COVID-19 outbreak and economic hardship. After paying their taxes, the companies in the financial, consumer, telecommunications, and industrial sectors made over N1 trillion in profit.

According to data obtained from the Nigerian Exchange, these ten companies made a massive profit of $1.03 trillion in just nine months.

What do you think the secrets are?

According to a BusinessDay report, these companies used a combination of factors, including strong unit volume growth, pricing, and favourable base effects, to post significant increases in both top-line and bottom-line figures during the year.

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Here is a list of the top ten companies, along with how much money they have made so far in 2021.

Dangote Cement

Dangote Cement, Africa’s largest cement company, made the most profit after paying all taxes and remains the most efficient cement manufacturer.

According to NGX Data, Dangote Cement made a total profit of N278 billion in the first nine months of 2021.
When compared to the nine-month period of 2020, the amount recorded this year is up 33 percent from N208.6 billion.

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MTN

MTN Nigeria, a telecommunications company, deposited N220.3 billion in its bank accounts between January and September after paying all due taxes to the federal government.

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Pascal Oparada on December 21, 2021. The profit this year is up 52.74 percent from the same period last year, when it was N144.2 billion profit after tax.

Zenith Bank

Zenith Bank, with a profit of N160.59 billion in the first nine months of 2021, is the third most profitable company.
When compared to N159.32 billion in the same period in 2020, this represents an increase of 0.8 percent.

GTCO: Guaranty Trust Holding Company

(GTCO), the parent company of GTbank, came in fourth in terms of profitability in the first nine months of 2021, with a profit after tax of N129.4 billion.
Unfortunately, its profit fell by 9.96 percent in the first nine months of 2020, from N142.28 billion.

BUA Cement

BUA, Another cement behemoth made the list, with a profit after tax of N65.91 billion in the fiscal year ended September 30, 2021, up from N 53.49 billion in the same period of 2020.

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NESTLE

Nestle ranked fifth in the nine-month period ending September 2021, with a profit after tax of N33.5 billion. This represents a 5% increase over the N31.9 billion realised in the same period of 2020.
Other businesses to round out the top ten
In the first nine months of 2021, First Bank of Nigeria Holdings made a profit of N40.79 billion.

WAPCO

In the nine months leading up to September 2021, WAPCO made a profit of N40.39 billion.

 Stanbic IBTC

In the first nine months of 2021, Stanbic IBTC made a profit of N39.95 billion.
Despite being the least profitable of the top ten profitable companies, Seplat Energy made a profit of N13.90 billion in the first nine months of 2021. 

Investors lose N2.6 billion in less than a day as First Bank.

The confusion over FBN Holdings’ highest majority shareholder was previously reported.
The total number of outstanding shares as of Wednesday, October 27th, 2021 is 35,895,292,792.00, with Otedola holding 1,818,551,625 shares, or just over 5%.
First Bank, on the other hand, has stated that Tunde Hassan-Odukale owns a 5.36 percent direct stake and a 5.29 percent indirect stake through Leadway Holdings Limited subsidiaries.



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10 COMMENTS

  1. Dangote must be there and mtn. Building of Houses is going on everyday despite the cost of cement and people a calling on every minutes either the network is good or bad . My congratulations to them but they should continue pay back to the community

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