United Bank For Africa Plc has emerged Nigeria's largest company with an asset base of N1191.04 billion. According to BusinessWorld 100, a research publication of BusinessWorld Newspaper which was released at the weekend, Dangote Sugar Refinery Plc emerged as the most profitable company in the country with profit after tax of N21.48 billion, while Oando Plc with turnover of N185.89 billion emerged as the company with the largest revenue and Zenith Bank Plc the most valuable company as it recorded the highest market capitalization of N613.11 billion. Oceanic Bank International Plc, with N222.77 billion, has the largest shareholders' fund among Nigeria's 100 largest companies while Julius Berger is the highest employer of labour in the country with 17308 employees.

To arrive at these results, the companies quoted on the Nigerian Stock Exchange were assessed and ranked based on their assets, shareholders' funds, gross income, profit, employee population and market value, using their 2007 financial reports.

UBA led the chart in assets, and was second best in profit, market value and shareholders' funds. It also came 4th in revenue ranking. Apart from employee population, the bank was found in the first 5th of the six criteria applied for the entire analysis.

According to the study, UBA, Oceanic, Zenith, First Bank and Intercontinental Bank emerged the first five biggest companies in that order out of the 100 companies ranked. Incidentally, only Oando Plc is a non-bank business organisation that appeared in the first 20 position in the asset ranking. In other words, the top 10 companies in the country are all banks. Food and beverage companies and some oil and gas firms had a good showing in the ranking with Nigerian Breweries, Flour Mills, Guinness, Julius Berger and others coming on strong in the area of assets.