MTN Nigeria Communications (MTNN) Plc has beaten Dangote Cement Plc, and others to emerge as the most profitable company in Nigeria in 2022 after making N553.97 billion.
This is based on information gathered from the companies audited results released on the Nigerian Exchange (NGX).
According to the NGX, Nigerian economy expanded by 3.1 percent in real terms in 2022, representing slow growth when compared to the previous year’s 3.4 percent expansion. Headline inflation also rose to a 21-year high of 18.77 percent in 2022 due to the pass-through effect of the Russia-Ukraine war.
Businesses in the country have been able to increase their income, whilst giving value in the form of dividends to their shareholders.
In 2022, fifty top companies were listed on the Nigerian Exchange (NGX) posted profit before tax of N3.54 trillion, surpassing the previous year by 8.1 percent (N3.27 trillion).
