Nigeria Law

Chapter IV · Record

Companies of Record

Inclusion criteria are strict: documented first, documented record, or documented material relevance to the Nigerian state. Never promotion.

Selected entities

15 documented
1886Trading / conglomerate

Royal Niger Company → United Africa Company (UAC)

The chartered company that governed the Niger territories until 1900; its commercial successor UAC was formed in 1929 — the very year this database's record begins — and dominated the colonial economy (at points handling a major share of all West African trade).

UAC of Nigeria plc still operates.

1894Banking

First Bank of Nigeria

Nigeria's oldest bank — continuous operation since 1894.

Operating (FBN Holdings).

1946Manufacturing

Nigerian Breweries

Brewed the first bottle of STAR lager in June 1949 — the first industrial-scale brewery in Nigeria and a founding artefact of Nigerian manufacturing.

Operating (Heineken majority).

1981Industrial conglomerate

Dangote Group / Dangote Cement / Dangote Refinery

Dangote Cement is Africa's largest cement producer; the Dangote Refinery (commissioned 2023–24, Lekki) is the world's largest single-train refinery (650,000 bpd) — a global engineering record held by a Nigerian company.

Operating.

2003Telecommunications

Globacom

First network to launch per-second billing in Nigeria (2003), breaking the per-minute cartel pricing; built Glo-1 (2010) — the first international submarine cable wholly owned by a single African company.

Operating (Mike Adenuga).

2007Automotive

Innoson Vehicle Manufacturing (IVM)

Nigeria's first indigenous vehicle manufacturer (Nnewi).

Operating.

2002Fintech

Interswitch

Built Nigeria's interbank switching backbone (Verve, Quickteller); became Africa's first widely-recognised fintech unicorn ($1bn+ valuation, Visa investment 2019).

Operating.

2015Fintech

Paystack

First Nigerian startup admitted to Y Combinator (2016); acquired by Stripe in 2020 for a reported $200m+ — the largest US acquisition of a Nigerian startup at the time and the deal that globalised "Nigerian tech" as an asset class.

Operating (Stripe).

2016Fintech

Flutterwave

Reached a $3bn+ valuation (2022) — at its peak the most valuable African startup on record.

Operating.

1956Energy

Oando

First Nigerian company to dual-list on the Nigerian and Johannesburg Stock Exchanges (2005).

Operating.

2009Energy

Seplat Energy

First Nigerian company dual-listed on the London and Nigerian exchanges (2014); completed the landmark acquisition of ExxonMobil's Nigerian shallow-water assets (2024) — the largest indigenous takeover of an international oil major's Nigerian portfolio.

Operating.

1990Banking

Zenith Bank / GTCO (Guaranty Trust)

The two flagship "new generation" banks; both listed on the London Stock Exchange (GTBank 2007 — first Nigerian company on the LSE main market via GDRs; Zenith 2013). GTCO's 2021 holding-company restructure and Zenith's scale records are documented in NGX filings.

Operating.

2013Aviation

Air Peace

West Africa's largest airline by fleet; the 2019 evacuation of Nigerians from South Africa's xenophobic violence — at the airline's own cost — is a documented civic act cross-referenced in the Diplomatic History (South Africa entry).

Operating.

1992Film

Nollywood (industry note, not a company)

By output volume, the world's second-largest film industry (documented UNESCO/PwC studies) — included as an industry-of-record note; individual studios do not yet meet single-company criteria.

1977State oil

NNPC / NNPC Ltd

The state oil corporation at the centre of Nigeria's political economy; its 2022 conversion to a limited company under the Petroleum Industry Act 2021 is a structural landmark.

Operating (NNPC Ltd).

Methodology

Tier 1 · primary

Courts. Gazettes. National archives.

Tier 2 · corroborating

OCCRP. HRW. BudgIT. TheCable.

Redline

Wikipedia is never a source.