As one of the largest economies in Africa, Nigeria has given rise to numerous multinational companies that have expanded their footprint across the continent.
These Nigerian giants have not only contributed significantly to the country’s economy but have also positioned themselves as key players in Africa’s business landscape.
From oil and gas to telecommunications and banking, Nigerian firms are making their mark, influencing markets, creating jobs, and contributing to economic development in various African countries.
In this article, we take a closer look at some of the Nigerian multinational companies with the most substantial presence across Africa. These companies have built strong brands, established extensive networks, and adapted to diverse markets, further establishing Nigeria’s role as a business hub in Africa.
Here’s a glimpse into the Nigerian multinationals leading the charge in the African business world.
The Dangote Group is founded and owned by Aliko Dangote – he leads the region’s largest conglomerate, with operations in 17 African countries and a dominant presence in cement production.
At the heart of his business empire is Dangote Cement Plc, West Africa’s largest publicly listed company and the first Nigerian firm to secure a spot on the Forbes Global 2000 Companies list. The cement giant has fueled much of the continent’s infrastructure expansion, supplying materials for roads, bridges, and skyscrapers from Lagos to Accra.
Beyond cement, the Dangote Group has aggressively diversified, venturing into agriculture, food production, and energy. The company is currently undertaking one of its most ambitious projects yet: the construction of Africa’s largest petroleum refinery, petrochemical plant, and fertilizer complex. Its $20 billion refinery, which has been completed, has begun serving the West African oil market.
Zenith Bank Plc was founded in May 1990 by Jim Ovia CFR and commenced operations as a commercial bank in July of the same year. Since then, it has evolved into Nigeria’s largest bank by tier-1 capital and one of the top 10 banks in Africa.
Headquartered in Lagos, Nigeria, Zenith Bank operates 393 branches across Nigeria and has expanded internationally with subsidiaries in key African markets:
Additionally, Zenith Bank has a subsidiary in the United Kingdom, Zenith Bank (UK) Limited, which was licensed by the Financial Services Authority (FSA) in March 2007. The bank also maintains a representative office in China and has expressed plans to further expand into Europe and Asia.
Zenith Bank has a market cap or net worth of N1.59 trillion as of January 29, 2025. Its market cap has increased by 7.29% in one year.
Guaranty Trust Holding Company has established itself as a cornerstone of financial services in Africa, with a presence spanning Anglophone and Francophone West Africa, East Africa, and Europe.
Guaranty Trust Holding Company has established itself as a cornerstone of financial services in Africa, with a presence spanning Anglophone and Francophone West Africa, East Africa, and Europe.
Headquartered in Lagos, the bank has successfully expanded across the African continent, with operations in Gambia, Liberia, Rwanda, Sierra Leone, Uganda, and Tanzania. Guaranty Trust Bank currently boasts a market capitalization of N2.1 trillion as of January 30, 2025.
A key milestone in the bank’s growth story is its role in digitizing banking services in Nigeria, positioning it at the forefront of technological advancement in the financial sector.
Sahara Group is a global energy and infrastructure powerhouse. Founded in 1996 by Tonye Patrick Cole and Temitope Shonubi, the company operates across 42 countries in Africa, Europe, the Middle East, and Asia.
With $17.5 billion in consolidated revenue and a workforce of over 5,300, Sahara Group continues to shape Africa’s energy future through innovation, investment, and strategic expansion.
Founded over 70 years ago, United Bank for Africa (UBA) is a prominent financial institution based in Lagos, Nigeria.
The bank offers a comprehensive range of services, including corporate, commercial, SME, consumer, and personal banking, along with pension custody services. In 2022, UBA expanded further by opening operations in Dubai, reinforcing its commitment to becoming a truly global financial player.
Under the leadership of Tony Elumelu who serves as chairman of the company and Oliver Anwuba as CEO, UBA continues to drive financial innovation, maintaining decades of consistent growth and offering a wide array of services that cater to diverse customer needs across its expansive footprint.
Founded in 1894, First Bank of Nigeria Limited is one of Africa’s largest and most established financial institutions.
With a strong presence across Africa, FirstBank continues to lead in digital banking and financial services under the leadership of Olufemi Peter Otedola, who was appointed Chairman of FBN Holdings Plc in January 2024.
Flutterwave, one of Africa’s fastest-growing fintech companies, is transforming digital transactions across the continent. Founded in 2016, the company has facilitated seamless payments for millions of businesses and individuals. Headquartered in Nigeria, it was co-founded by Iyinoluwa Aboyeji, who served as its first CEO, alongside Olugbenga Agboola, the current CEO, and Adeleke Adekoya.
With a valuation of $3.2 billion as of May 2024, Flutterwave has established itself as an African unicorn, serving over 1 million businesses and 2 million individuals.
By offering secure and scalable payment solutions, Flutterwave continues to drive financial inclusion and innovation, shaping the future of digital commerce across Africa and beyond.
Access Bank Plc has grown from a relatively unknown Nigerian bank into one of Africa’s leading financial institutions over the past 26 years. As one of Nigeria’s five largest banks by assets, loans, deposits, and branch network, it has built a strong reputation for delivering innovative financial solutions across corporate, business, and personal banking.
Listed on the Nigerian Stock Exchange since 1998, Access Holdings Plc has over 900,000 shareholders and a market capitalization of N1.4 trillion. The bank’s transformation began 23 years ago when Aigboje Aig-Imoukhuede and the late Herbert Wigwe acquired it, alongside key executives like Roosevelt Ogbonna from Guaranty Trust Bank. Their leadership reshaped Access Bank into a powerhouse in African banking, driving its continued expansion and innovation.
Globacom Limited, commonly known as Glo, is a Nigerian multinational telecommunications company that has played a pivotal role in Africa’s telecom industry since its inception on August 29, 2003, by billionaire Mike Adenuga. As of early 2023, the company boasted over 60.7 million subscribers, securing its place as Nigeria’s second-largest telecom provider.
In 2009, the government of Côte d’Ivoire granted Globacom an operating license, paving the way for the company’s expansion into the Francophone market.
Despite subscriber fluctuations in recent years, Glo remains a crucial player in Africa’s digital transformation, continuing its mission to bridge the continent’s connectivity gap.
