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Dangote Cement is now the most valuable company in Nigeria because its shares are doing really well on the Nigerian Exchange Limited (NGX). Market capitalization is like figuring out how much a company is worth in the stock market. They calculate it by multiplying the number of shares a company has by the current price of one share.
Dangote Cement has taken the lead over Airtel. Investigations show that Dangote Cement moved ahead of the telecom giant Airtel Africa because its share price went up.
On Wednesday, January 16, 2024, Dangote Cement’s share price was N411.9 per share. But on Thursday, January 17, 2024, it increased by 19.8% to N452.5 per share. This boost in share price made Dangote Cement’s total value in the stock market rise by N690 billion, reaching N7.71 trillion on Thursday. This surpassed Airtel’s value of N7.52 trillion.
So, in less than one week, Aliko Dangote’s important assets quickly moved from the third position to become the top company in terms of value.
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