Lagos, Nigeria – Wema Bank, Fidelity Bank, Ecobank Transnational Incorporated, and Dangote Sugar Refinery have all crossed the N1 trillion market capitalisation threshold following a sustained share price rally on the Nigerian Exchange.
Okay News reports that the four companies have now joined the elite group of Stocks Worth Over One Trillion Naira, popularly known as SWOOTs, bringing the total number of stocks in this category to 26, up from 22 in October 2025. As of the trading day ended February 17, 2026, Wema Bank was valued at N1.09 trillion (approximately $696 million) , Fidelity Bank at N1.04 trillion ($664 million) , Ecobank at N1.02 trillion ($651 million) , and Dangote Sugar at N1.01 trillion ($645 million) .
The rally reflects strong investor sentiment following impressive 2025 financial results across the four companies. Wema Bank reported a 116 percent increase in pre-tax profit to N222.07 billion, driven by a 51 percent rise in gross earnings. Ecobank posted pre-tax profit of N1.27 trillion, up 30 percent from 2024, supported by higher net interest income and non-interest revenue. Fidelity Bank recorded gross earnings of N366.1 billion in the third quarter, with interest income rising 33 percent. Dangote Sugar returned to profitability, posting a pre-tax profit of N13.38 billion in the third quarter, rebounding from a loss position.
Wema Bank shares surged from N23.95 on February 2 to above N27 by mid-February, lifting its market value by over N130 billion. Fidelity Bank’s share price climbed above N20, adding N76 billion to its valuation. Dangote Sugar shares rose from N82 to hit the trillion-naira mark, while Ecobank maintained its position above the threshold despite some price moderation.
All four companies have also met regulatory capital requirements. Wema Bank and Fidelity Bank completed their recapitalisation ahead of the Central Bank of Nigeria’s March 2026 deadline. Ecobank similarly crossed the recapitalisation hurdle, while Dangote Sugar’s return to profitability reflects improved revenue and cost control. As of mid-trading on February 18, Wema Bank shares were up over 15 percent, with a year-to-date gain of 32 percent. Fidelity gained over 7 percent month-to-date, while Dangote Sugar climbed 28 percent this month and 39 percent year-to-date.
