In a recent data release by the Nigerian Stock Exchange, MTN Nigeria and Airtel Nigeria have emerged as the most capitalized companies in the country. With market capitalizations of N5.56 trillion and N4.49 trillion respectively, these two telecom operators have taken the lead among the top 10 companies on the stock exchange.
The combined capital base of MTN Nigeria and Airtel Nigeria amounts to a staggering N10.5 trillion, giving the Information and Communication Technology (ICT) sector a notable advantage over other sectors. Notably, the industrial goods sector, represented by Dangote and BUA with a combined capital of N7.98 trillion, and the consumer goods sector, represented by Nestle and BUA with N3.43 trillion, were surpassed by the ICT sector.
Our Data Prices On JMData:
- MTN SME 1: N255 per 1GB
- MTN SME 2: N259 per 1GB
- Airtel CG: N278 per 1GB
- Glo CG: N230 per 1GB
- 9mobile: N125 per 1GB
Download Our Mobile APP to get started: [JMData] https://play.google.com/store/apps/details?id=com.encrypted.jmdata
PAWS IS THE NEXT $DOGS
This Mining is the next after #DOGS, Don't Miss it Out
Use this link below to Join 👇👇👇👇👇
https://t.me/PAWSOG_bot/PAWS?startapp=6ZSAPFb3
The financial sector secured a significant capital allocation of N2.11 trillion, followed by the oil and gas sector with N823.7 billion, and the utility sector with N750 billion. This highlights the substantial investments and growth potential within these sectors.
Over the past three years, the ICT sector has consistently outperformed other sectors in contributing to Nigeria’s Gross Domestic Product (GDP). This trend is further emphasized by the Nigerian Communications Commission (NCC), which reported that the telecommunications industry has attracted investments exceeding $70 billion over the past 22 years. The sector’s remarkable growth, starting from a modest $500 million investment in 2001, signifies its robust development and long-term viability.
READ ALSO: President Tinubu Presents Evidence at Tribunal, Challenging Peter Obi’s Membership in Labour Party
The success of MTN Nigeria and Airtel Nigeria reflects the immense growth and influence of the telecommunications industry in Nigeria’s economy. These companies have not only transformed the way Nigerians communicate but have also become key contributors to the country’s economic development. The remarkable capitalization figures attained by both companies highlight the confidence of investors in the sector.
As Nigeria continues to foster a favorable business environment, it is expected that the ICT sector will continue to thrive, attracting further investments and creating new opportunities. The government’s commitment to supporting this growth by implementing favorable policies and regulations will undoubtedly strengthen the position of the ICT sector in the Nigerian economy.
Source: Daily Trust
JOIN NOW
https://t.me/PAWSOG_bot/PAWS?startapp=6ZSAPFb3
Google News Channel
Follow us on Google News for Latest Headlines
Join Our WhatsApp, Facebook, or Telegram Group For More News, Click This Link Below;
WhatsApp Channel
https://whatsapp.com/channel/0029VaELqhlHVvTXjDnUf80h
WhatsApp Group
https://chat.whatsapp.com/G6Lo3ss6WKLCOqBphZwQGk
Facebook Page
https://facebook.com/allmedia24news
Our Twitter Page
https://www.twitter.com/allmedia24news
Telegram Group
https://www.threads.net/@allmedia24news
Discover more from Allmedia24 News
Subscribe to get the latest posts sent to your email.