FG Unveils Nigeria’s Top 100 Companies

Minister of Industry, Trade and Investment,

Mr. Olusegun Aganga

The federal government has unveiled the
names of Nigeria’s Top 100 companies set
to be honoured by President Goodluck

Jonathan on Monday.
Some of the companies include Dangote
Group, First Bank, Chevron, Elizade, MTN,
Globacom, Chi Group, Nigerian Breweries,
Nigeria Flour Mills, UAC, APN Terminal, Eko
Supreme, Mamuda Industries, Dolphin Foods,
Wemco, Bolawaole Enterprises and Indorama.
The Minister of Industry, Trade and
Investment, Mr. Olusegun Aganga, described
the Top 100 Businesses Initiative as a bold
effort to celebrate major investors and
companies that are contributing to the
development of the economy.
Aganga said that the country adopted similar
criteria as Fortune 500 in the US, in selecting
the top businesses. He said this makes it
very objective and verifiable.
“We want to make it absolutely clear that it
has integrity. Coincidentally, it is happening
in the year of our centenary. But we will in
120 years, in 150 years, in 200 years go back
to the Centenary City, we will see the
emblem of these companies as a Top 100
companies in the year Nigeria had at its
centenary,” he stated.
He expressed pride at the achievement of the
selected companies, as it is investors that
create jobs, wealth, facilitate economic
growth and generate income for the
government.
“We intend to use this Top 100 Businesses
Presidential Award Dinner to say big thank
you to those companies for their firm
commitment and belief in our economy and
to charge them to do more by bringing more
investments to Nigeria.
“It is also aimed at creating a platform for
public-private sector interactions on Nigerian
economic policies.
Aganga noted that with the yearning for
diversification of Nigeria’s economy, the Top
100 list has shown that the country is
moving in the right direction. “They cut
across sectors including oil and gas,
telecommunications, manufacturing, financial
services, construction, fast moving
consumables, food manufacturers, logistics,
among others,” he said.
“This process has, once again, demonstrated
that there are many reputable companies in
Nigeria. It is a tough job finalising this list.
Nigeria is gifted with winners, great
investors, great companies and, of course,
the opportunities in Nigeria are huge.
“Behind Nigeria’s economic success, are real
companies that do business everyday. Those
companies invest, employ our people and
they keep our economy growing. This
administration is aware that it is private
companies that are driving our economy.
Government is here to provide enabling
environment. it is the private sector that will
help Nigeria achieve its economic goals,”
Aganga noted.
Like the America’s Fortune 500, the Minister
said the Top 100 Businesses Assessment
Committee gleaned information from public
companies’ annual reports, Nigeria Stock
Exchange, NSE, the Financial Reporting
Council, FRC, as well as reports from private
companies that publish revenue figures, to
decide the winners.
The committee was headed by the Executive
Secretary and Chief Executive Officer of the
FRC, Mr. Jim Obazee. Other members were
Director-General, Industrial Training Fund,
Mrs. Juliet Onaeko; Managing Director, Bank
of Industries, Mr. Rasheed Olaoluwa;
Executive Secretary, Sugar Council, Dr.
Lateef Busari; Chief Executive Officer,
Nigerian Stock Exchange, Mr. Oscar Onyema;
Executive Chairman, Federal Inland Revenue
Service, Mr. Kabir Mashi; and Managing
Director, Nigerian Export Processing Zones
Authority, Mr. Gbenga Kuye.
Also in the committee were the Executive
Secretary, Nigerian Investment Promotion
Commission, Mrs. Salatu Umar; Chief
Executive Officer, Nigerian Export Promotion
Council, Mr. Olusegun Awolowo; CEO, Jake
Riley Limited, Mrs. Funmi Ogbue; a Director
from MITI, Bambo Kunle-Salami, and
representatives of the Minister.

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