Dangote Cement has emerged as the most valuable company in Nigeria at the end of June 2024 based on market capitalisation.
Market capitalisation is how much a company is worth as determined by the stock market.
It is calculated by multiplying the number of outstanding shares by the current market value of one share.
Checks by TimesNow.com.ng reveal that Dangote Cement’s market capitalization of N11.19 trillion is ahead of telecommunications giant Airtel’s N7.88 trillion.
Transcorp Power and Geregu Power, with market capitalizations of N2.8 trillion and N2.5 trillion, respectively, occupied the 3rd and 4th positions.
Seplat Energy, valued at N2.23 trillion, also reinforces the energy sector’s significance, particularly in the oil and gas industry.
Here is a list of the most valuable market capitalization based on data tracked from the Nigerian Exchange (NGX).
In related news, TimesNow.com.ng reported that the SEC had addressed concerns regarding the $DAVIDO meme coin, purportedly associated with popular Nigerian singer Davido.
In a recent statement, the SEC clarified that meme coins are cryptocurrencies inspired by memes and internet jokes.
The commission explained that these coins are often intended to be fun and light-hearted, promoted through social media communities, and occasionally endorsed by celebrities.
The SEC also noted that the coin lacks intrinsic value and cautioned the public to trade it at their own risk.
Source: TimesNow.com.ng
