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- Market leaders
- National stock exchange
According to Businessworld (2011), Nigeria’s sectorial leaders are First Bank Plc for the banking sector, AIICO Insurance Plc for the insurance sector, Oando Plc for the oil and gas sector and Dangote Cement Plc for the manufacturing sector. According to International Corporate Research, in 2011 Dangote Cement Plc retained its position as the company with the greatest market value (N1.921 trillion). Nigerian Breweries came second, with a market value of N578.61 billion, and Zenith Bank Plc came in third place with a value of N475.97 billion.
Other major corporations include Julius Berger (a multiservice construction company), Flour Mills of Nigeria Plc, United Bank for Africa (UBA) and Stanbic IBTC Bank. The Nigerian National Petroleum Corporation (NNPC) is charged with the authority to act on behalf of the federal government in the oil and gas industry. The main international corporations are the oil majors such as Shell (the oldest energy company in Nigeria), Chevron Texaco and Exxon Mobil. Other multinationals include Unilever Nigeria, Nestle Nigeria and Guinness Nigeria.
Julius Berger is one of Nigeria’s most significant employers, with approximately 18,000 Nigerian employees (2012). Dangote has a nationwide workforce of around 12,000 (2011). Dangote is a diversified group of companies, active in food products, cement, textiles, real estate, oil and gas and maritime operations.
According to the World Bank, in 2011 the market value of listed companies was approximately 39.270 billion US dollars (compared to 50.883 billion in 2010 and 33.325 billion in 2009).
The Nigerian Stock Exchange hosts nearly 200 listed companies in 12 sectors, including several global brands. Its corporate headquarters are in Lagos, and it has 13 branches across the country. The Nigerian Stock Exchange is an affiliate member of the World Federation of Exchanges (FIBV). It is also an observer at meetings of International Organization of Securities Commissions (IOSCO), and a foundation member of the African Stock Exchanges Association (ASEA).