Market capitalisation of telecommunications giant MTN Nigeria Plc has soared to N14.9 trillion as of Friday, February 13, following an 8.6% rise in its share price to N708.90, making it the most valuable on the country’s bourse.
That share rise effectively ends BUA Foods Plc six months run as the most capitalised listed company on the Nigerian Exchange after it displaced MTNN in August 7 2025.
MTN Share Price Growth
“MTN Nigeria is currently the #1 most valuable stock on the NGX with a market capitalisation of N14.9 trillion, which makes about 12.7 percent of the entire Nigerian Stock Exchange equity market,” according to African Stock Exchange data, a market analytics platform.
Investors are betting big on MTNN following the announcement of a N5 interim dividend payout, marking a major comeback after a challenging financial period that saw the telecom giant suspend dividends in 2022.
That move boosted its share price, which began 2026 at N511.00 and has since gained 38.7%, ranking it 44th on the NGX in terms of year-to-date performance. That’s an impressive performance for a stock that returned 178% a year ago.
Karl Toriola, the CEO of MTN Nigeria, said MTN’s strong financial recovery raises hopes for the company’s ability to finish the year strong. However, this is dependent on its ability to maintain the momentum it has built over the past nine months with continued support from favourable macroeconomic conditions in the country.
“In the final quarter of the year, our focus is on sustaining the strong momentum built in the first nine months. We will continue to execute with discipline, leveraging our broad revenue streams and strengthened balance sheet to navigate market dynamics and capture growth opportunities,” Toriola said.
The development also comes at a time when domestic institutional investors — particularly pension funds — are rebalancing portfolios amid improved fixed-income yields and a more stable macroeconomic backdrop. Equity valuations have become more sensitive to earnings quality and cash flow visibility, rather than purely inflation-hedge narratives.
