FG Unveils Nigeria’s Top 100 Companies

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.