1. Shell Petroleum Development Company
SHELL is known as the largest company in Nigeria. Therefore this company is a subsidiary of Royal Dutch Shell’s Nigerian branch or most commonly known as Shell Nigeria. The company operates on a structure made of more than 6,000 km of flowlines and pipelines, 8 factories for natural gases over 1,000 oil-producing wells and at least 87 flow stations. This company just recently operated onshore on either the mangrove swamp or on dry land. Shell reported 9.89 billion in Market Capitalization for its second fiscal quarter of 2020
2. Mobil Nigeria
A large oil firm in its own right, Mobil Nigeria just one out of a total of three subsidiaries of ExxonMobil. Take note, all these three subsidiaries operate in Nigeria. Operating offshore, the company has at least 90 platforms located on a territory with a total of 7900,000 acres of land. It holds the number 2 spot in Nigeria’s top oil-producing companies outmaneuvered by Shell. Mobil Nigeria’s market capitalization is over 147 Million USD.
3. Nigeria National Petroleum Corporation
The NNPC is the Federal government-owned oil company in Nigeria. Through this company, they could participate in the petroleum business and regulate it at the same time. Hence, the company’s mandated role in overseeing the mergers with big foreign oil corporations ensures that the prices would be regulated and fair to the people. Texaco was included before in this list before its merger with Chevron. Through mutual cooperation, the Nigerian government could do petroleum production and exploration.
4. MTN Nigeria
Mobile telecommunications also grew in the country; actually in Africa altogether. MTN Nigeria is a subsidiary of MTN Group Limited whose former operating name was M-Cell. The Nigerian people clearly trusts MTN Nigeria so much because more than 58 million Nigerians subscribe to their service. After all, it uses a fiber network that reaches out nationwide. Also, the company boasts of being the country’s premier communications provider and one of the largest in the continent. They continue to grow at a rapid pace and shows no signs of slowing down. With a market capitalization of more than $13.5 billion definitely belongs into the top 20 richest companies in Nigeria.
5. Nestle Nigeria Plc
Undoubtedly, companies concerning food also has a high earning rate. Nestlé Nigeria is no exception. Known as one of the country’s leaders in food production, the company garnered honorable citations as one of Africa’s most successful companies. It was founded in 1962 and operated formerly as Nestlé Products Nigeria Limited. Ogun State houses the company’s main processing plant but operates mainly from Lagos. The company has a market capitalization of more than $3.1 billion.