Dangote Group: 10 other Conglomerates in Nigeria You Should Know

One of the most prominent  and influential conglomerates in Nigeria is Dangote Group.The multinational company founded by billionaire entrepreneur Aliko Dangote, has grown to become the largest industrial conglomerate in the country, with operations spanning multiple sectors and industries.

Dangote Group is however not the only conglomerate in the country. There are several other companies that are also making significant contributions to the country’s economy and development. Let’s look at other conglomerates in Nigeria that you should know.

Chagoury Group

One of Nigeria’s prominent multinational business conglomerates is Chagoury Group. Chagoury Group which is headquartered in Lagos was founded by two brothers, Gilbert R. Chagoury and Ronald Chagoury in 1971.

The company is one of the leading Africa based corporations in Nigeria whose businesses include glass manufacturing, construction, industrial, flour mills, water bottling and purification, hotels, property development, plastic bottle manufacturing, furniture manufacturing, amongst others. The company’s flour mill, Ideal Flour Mill was built through its construction division and was the first of four flour mills the Chagourys developed in Nigeria.

In addition to these businesses ,the Chagoury Group’s industrial division includes a glass bottle manufacturing plant, plastic bottle manufacturing and furniture manufacturing. From Chagoury group inception in 1971 to the opening of the Ideal flour mills in 1978, the company has been a model of 21^st century innovation while staying true to their origins as a family business.

UTC Nigeria Plc

Another prominent conglomerate in Nigeria is the Union Trading Company PLC commonly known as UTC PLC. The company was established in 1932 by Swiss traders who had interest in Ghana and India before entering the Nigerian market.

The conglomerate diversified into  agriculture and engineering like the UTC Stores which  was a chain of Supermarkets, UTC Motors, Dorman Long, Amalgamated Metal Containers, Imo Hills Ltd and UTC Industries.

The company shut down its non food processing divisions to concentrate on its food processing business, in 1994, with marketing brands such as Chopsy, Bell and champ.

The firm grew in Nigeria through several acquisitions, trading and establishment of various divisions including Dorman Long Nigeria, UTC Foods, Amalgamated Metal Containers, HF Schroeder and a motors division.

Ibru Organization

The Ibru Organization was founded in 1956 by Michael Ibru and is one of the largest conglomerates in Nigeria. The company started with Ibru Seafood before diversifying its portfolio to include a palm oil plantation in old Bendel State, now Delta and Edo State and an 800-hectare fruit farm. 

The company further extended into petroleum, transportation and real estate when it grew in the country. Micheal Ibru also has several prominent members who steered the wheel of the organization along with him.

By 2009 the Ibru Organization was already a  multi-billion dollar business with interests in shipping, agriculture, aviation, banking, oil and gas.

Concord Group (Nigeria)

One prominent conglomerate in NIgeria is the Concord Group (Nigeria) which was the business name of a group of companies that included Concord group of Newspapers, and Concord Airlines. The group was founded by Moshood Abiola, a Nigerian businessman, publisher, and politician.

The company has other ventures within the group which include Concord Summit Capital, Abiola Farms, and Wonder Bakeries. The company also established National Concord in 1980 which became the most widely read newspaper in the first three years of its existence.

Another business established by the Group is Abiola Farms in 1985, largely managed by his son Kola Abiola. Also, Summit Oil International Ltd was created as part of the government’s incentive to encourage local investment in the crude oil production sector. 

Global Fleet Group

The Global Fleet Group is one of the biggest conglomerates in Nigeria, founded by Jimoh Ibrahim in 2003. The Group has diverse interests across a range of sectors in Africa. This includes oil and gas, airlines, magazines, insurance, hotels, resorts, real estate, petrol stations, manufacturing and banking. 

The company has other subsidiaries which include Nicon Insurance,, Air Nigeria, Global Fleet Oil and Gas, a chain of gasoline stations across Nigeria, the Nicon Group, Nicon Properties Limited amongst others.

Honeywell Group

Honeywell Group is a conglomerate based in Nigeria with diversified businesses in five main sectors which includes foods and agriculture, telecommunication and infrastructure, real estate and financial services.

Honeywell was founded by Dr. Oba Otudeko, who is also the group chairman. The Group’s conglomerate includes HOGL Energy Limited, Pivot Engineering Company Limited (PECL), Uraga Real Estate Limited, Anchorage Leisures Limited, and Pavilion Technology Limited.

Parthian Partners Limited

One of Nigeria’s conglomerates, also the country’s first inter-dealer brokerage firm is Parthian Partners Limited. The company was incorporated as a Private Limited Liability in Nigeria in 2012 and widely known as a leader in fixed income, structured finance, equities, and financial integration.

The company’s subsidiary, Parthian Securities Limited, provides securities trading services to Retail Investors as well as the Wholesale Market. The company also provides world-class brokerage services to institutional dealing clients such as Foreign Portfolio Investors, Commercial and Merchant Banks, Pension Funds, and Asset Managers.

Stallion Group

The conglomerate was founded in 1969 and is one of the largest in Sub-Saharan Africa. Stallion Group has an extensive international presence in 18 countries (As of 2010) with 72 locations. 

Their businesses include commodities, agriculture, automobile assembly, automobile distributorship, food products, industries, FMCG, mining, steel manufacturing, real estate, financial services, technology, logistics and shipping. 

The group also manages a sole/exclusive portfolio of global auto brands including Honda, Hyundai, Nissan, Porsche, Volkswagen, Audi, Skoda, Foton, Jinbei, BAIC, Changan, Ashok Leyland and IVECO.

Transnational Corporation of Nigeria

Transnational Corporation commonly known as Transcorp Group is a Nigerian conglomerate with diversified operations in strategic investments and core interests in the hospitality, agribusiness and energy sectors. The company which was established in 2004 has about 290,000 investors and several partnerships.

The Group’s notable assets include Transcorp Hotels plc which includes Transcorp Hilton Hotel, Abuja and Transcorp Hotels, Calabar, Transcorp Ughelli Power Limited and Transcorp Energy Limited. The company has expanded through several acquisitions and partnerships.

Flour Mill of Nigeria

One of the largest industrial conglomerates in Nigeria and a leading agro-allied business in West Africa is the Flour Mill of Nigeria (FMN).

The company which was founded in 1960 by George S. Coumantaros is a Nigerian diversified agribusiness company. It started out as a private limited company and became a public company in 1978.

The Group started its operation in 1962 as the first wheat mill plant in Nigeria. Other businesses of the company include, polypropylene manufacturing plant, Logistics, Packaging, Real Estate, amongst others.