1 in your Top 20 richest companies
in Nigeria list.Nigeria has slowly, but surely grew as years and decades pass by.Sure, it has its fair share of ups and downs but because of the people’sperseverance and continued belief that everything would turn out well in theend, the country now has a stable economy.Of course, gaining more achievements and other factors would help shape thecountry’s success.Support from investors undoubtedly would provide the required push that thecountry needs.Hence it does not matter if the investors came from the country or a foreignone. Also, what matters is how they could contribute to Nigeria’s continuousgrowth.That said, these companies play a major role in Nigeria’s bid to rise in theeconomic ranks.In this article, the companies that succeeded in earning large revenues andeven more in turn helped the country succeed will be discussed.Here is a list of the top 20 richest companies in Nigeria in no particularorder:
Shell Petroleum Development Company
Known as the largest oil company in Nigeria. Therefore this company is asubsidiary of Royal Dutch Shell’s Nigerian branch or most commonly known asShell Nigeria.The company operates on a structure made of more than 6,000 km of flowlinesand pipelines, 8 factories for natural gases over 1,000 oil-producing wellsand at least 87 flow stations.The company’s main task in the Shell Nigeria Corporation is to personallyoversee the physical extraction and production of petrol.4 key players in the oil industry comprise the company as a whole. Each onehas a specific percentage of shares in the company.These companies are the Nigerian National Petroleum Corporation, Shell, TotalS.A., and Eni. So, each company has 55%, 30%, 10%, and 5%, respectively whereits Market capitalization is $110 Billion USD.This company just recently operated onshore on either the mangrove swamp or ondry land.
Nigerian National Petroleum Corporation
The NNPC is the Federal government-owned oil company in Nigeria.Through this company, they could participate in the petroleum business andregulate it at the same time.Hence, the company’s mandated role in overseeing the mergers with big foreignoil corporations ensures that the prices would be regulated and fair to thepeople. * These companies include * ExxonMobil * Royal Dutch Shell * Chevron * Agip * Total S.ATexaco was included before in this list before its merger with Chevron.Through mutual cooperation, the Nigerian government could do petroleumproduction and exploration.
Nestlé Nigeria Plc
Needless to say, 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 garneredhonorable citations as one of Africa’s most successful companies.RELATED: 7 Richest Politicians in NigeriaIt was founded in 1962 and operated formerly as Nestlé Products NigeriaLimited. Ogun State houses the company’s main processing plant but operatesmainly from Lagos.Company operations started more than 57 years ago and continue to providehigh-quality food for the Nigerians up to this day.The company has a market capitalization of more than $3.1 billion.
Total Nigeria Plc
Back to discussing oil companies. Another big player in the oil business,Total Nigeria Plc started as a private company on June 1, 1956.Needless to say, Total Nigeria Plc is a subsidiary of Total; an energy companythat operates in over 130 countries.Committed to providing products and services, Total Nigeria Plc goes head-to-head with the big names in oil such as Shell and Chevron.The company has more than 500 service stations in the country alone. Asuccessful merger happened in 2001 which allowed Total Nigeria Plc to growmore.The company has a market capitalization of more than $10 million USD.
Nigerian Breweries Plc
A staple in celebrations, beer always make any party come alive. Through thissentiment, Nigerian Breweries Plc became a pioneer in the brewery business andalso the biggest brewing company in Nigeria.The company not only caters to the Nigerian people but also exports itsproducts to parts of West Africa as well.The company started in 1946 and operated under a different name, NigerianBreweries Limited. Its most popular brand, the STAR Lager, had competitionwhen it first came out.However, by 1960, the product gained enough solid ground and became a staplein parties and ceremonies alike. The company has a market capitalization of $2billion.
Unilever Nigeria Plc
People have various health and hygienic needs and the Nigerian peoplecertainly have the same needs.One of the biggest consumer goods company in Nigeria would be Unilever NigeriaPlc.Toothpaste, soaps, deodorants, lotions, and many more products come fromUnilever Nigeria Plc.The Nigerian Stock Exchange added the company to a list of the most richestcompanies in Nigeria because of its success in the country.The company officially started in Nigeria in 1923. One can locate thecompany’s headquarters in Lagos Nigeria.Its market capitalization is over 301 million USD.
Cadbury Nigeria Plc
Food companies certainly earn big money. Being a prime commodity makes thispossible.Cadbury Nigeria Plc produces sweets and confectionery products with Bournvitaas its main selling product.Needless to say. Of course, Cadbury manufactures various chocolate products sotheir subsidiary in Nigeria does the same.In fact, more than 15,000 tons of cocoa beans became cocoa foods and drinks.It has a market capitalization of over 54 million USD.
Top 20 Richest Companies in Nigeria Conclusion
It might be early in the year for this list so be on the lookout for anotherlist in the coming months. After all, the entries can change with newcompanies joining the top 20 richest companies in Nigeria.How the 6 major oil companies have invested in renewable energy projectsSome of the oil majors have invested heavily in renewables, such as wind andsolar, as they look to transition towards cleaner energy sourcesThe wind industry claims current net-zero pledges from G20 countries still putthe world on a 2.4C global warming pathway (Credit: Wikimedia Commons/TomCorser)Oil and gas is often painted as the dirtiest sector within the energyindustry, but major companies have begun to invest in renewable technologiesin a bid to clean up the economy.Of the six “super-majors” – BP, Shell, Chevron, Total, Eni and Exxon – many ofthem have pumped billions into clean energy projects, although question marksremain over whether they are doing enough.Despite the growth in renewables, “big oil” only spent 1% of its combinedbudget on green energy schemes in 2018.Matthias J Pickl, economics professor at King Fahd University of Petroleum andMinerals in Saudi Arabia, wrote a report in November 2019 discussing whetheroil companies are transforming themselves into energy firms.Titled The renewable energy strategies of oil majors – From oil to energy?, ithighlighted how wind and solar are taking an increasingly important role inthe energy industry, and that oil majors are “progressively positioningthemselves for the proclaimed energy transition”.“Oil firms are essentially attempting to figure out how the best presentlyavailable cash cow in the world can be replaced for the benefit of their ownsustainable future,” he wrote in the report.“Furthermore, growing concerns about climate change following the ParisAgreement may provide an additional drive for such strategy to hedge againsthardening investor sentiment towards carbon emissions.”Here, NS Energy looks into how each of the six oil majors have invested inrenewable energy projects.
Like its US counterpart, Exxon has shown very little interest in investing inrenewable energy technologies, with no budget or time-scale planned for futureprojects.The company’s strategy revolves around reducing greenhouse gas emissions,advancing biofuels, and carbon capture and storage (CCS).Exxon holds interests in about a third of the world’s CCS capacity andcaptured 6.9 million metric tonnes of carbon dioxide for sequestration – theprocess of separating the gas from the atmosphere – in 2015.In 2019, it announced plans to develop carbon capture fuel cell technology,which produces power and captures and concentrates CO2 for storage – resultingin potential cost reductions.30 Multinational companies in Nigeria, and their product / services.In this post, you will see the full list of notable multinational companies inNigeria. These companies operate in many other countries and have theirbranches in Nigeria.
30 Multinational companies in Nigeria
Here in this post, we’ll be providing you with information on some of the topmultinationals in Nigeria, as well as their respective locations.
22. The International Business Machines Corporation (IBM)
The International Business Machines Corporation – or IBM for short – is anAmerican multinational technology company with its headquarters in Armonk, NewYork, United States. The company has a presence in over 170 countries acrossthe globe, including Nigeria.
26. Halliburton Energy
Halliburton is an American multinational corporation, and one of the leadingproviders of products and services in the upstream and downstream energyindustry.It owns quite a large number of subsidiaries, affiliates, branches, brands,and divisions worldwide through which it provides services in oil and gasexploration and production, as well as the construction of refineries, oilfields, pipelines, and chemical plants.It is said to have a workforce of approximately 50,000 people from over 70countries, including Nigeria.
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