MTN Nigeria Communications PLC has become the most valuable company on the Nigerian Exchange Limited (NGX).
The company’s market capitalization reached N17.43 trillion following a significant shift in market leadership.
Former leader Dangote Cement saw its share price plunge 10%, wiping N1.8 trillion off its valuation.
This transition occurred during a broader market sell-off that impacted the holdings of Nigeria’s wealthiest individuals.
The move highlights a major change in the hierarchy of the Nigerian stock market.