Nigeria: Ten listed companies generate 14.4 trillion nairas in revenue and 4.99 trillion nairas in profits in the first half of 2026

Ten Nigerian listed companies - including MTN Nigeria, Dangote Cement, BUA Cement, Transcorp and Seplat Energy - accumulated 14.4 trillion nairas in turnover and 4.99 trillion nairas in pre-tax profit in the first half of 2026 (H1 2026), according to This Day. The daily attributes this performance to the reforms initiated by President Bola Tinubu since May 2023, including the unification of naira exchange rates and the removal of fuel subsidies. The precise breakdown of revenues and profits among the ten companies was not detailed by the source. Context reminder: MTN Nigeria, a subsidiary of South African group MTN, has been listed on the Lagos Stock Exchange (NGX) since 2019 and remains the country's leading telecom operator; Dangote Cement, controlled by Aliko Dangote, is sub-Saharan Africa's leading cement manufacturer; Seplat Energy, listed in Lagos and London, expanded its production after acquiring onshore assets from Mobil Producing Nigeria in 2024. These results strengthen the capitalization of the NGX and reinforce the attractiveness of the Nigerian market for institutional investors, while the country remains Africa's largest economy by GDP. Internally, the resilience of these groups stems from their diversification - telecoms, cement, energy, conglomerates - limiting exposure to a single commodities cycle. Externally, the relative stabilization of the naira since the 2023 exchange rate reform and oil prices