Business
The World’s Top Companies by Revenue in 2024
Today, Sinopec is the largest oil refiner by capacity globally, at 5.2 million barrels per day, exceeding Exxon Mobil, at 4.5 million barrels daily.
Visual Capitalist: Today, U.S. retail giants are the largest companies by revenue globally thanks to their international reach and the strength of the American consumer.
Looking beyond the U.S., many of the world’s leading companies by this measure are in the energy sector.
Notable heavyweights, such as Saudi Aramco and China National Petroleum, are predominantly state-owned with expansive global operations.
This graphic shows the top companies by revenue worldwide, based on data from Fortune.
Here are the world’s leading companies by annual revenues in 2024, including both public and private companies that report financial data:
Figures represent total revenues in companies’ fiscal years ending on or before March 31, 2024.
Ranking in first overall is Walmart, the largest retailer and private employer in America.
Every hour, Walmart generates nearly $74 million in revenue with an average of 255 million weekly store visits across its global customer base.
The U.S. makes up 68% of total sales, with domestic revenues rising 36% since 2019.
Amazon follows next in line, with $574.8 billion in revenues.
Over the past five years, Amazon’s revenues have more than doubled, driven by cloud computing services, Amazon Prime, and advertising revenues.
In 2025, Amazon plans to sell vehicles on its online marketplace in the U.S., further broadening its scope of products.
In third place is State Grid, China’s massive state-owned utilities firm.
Last year, the firm purchased two of Chile’s biggest electricity distributors and controls more than 50% of energy distribution across the country.
Moreover, State Grid stands as the world’s largest copper buyer, given the metal’s vital role in power grid infrastructure.
Like State Grid, state-owned Sinopec and China National Petroleum rank among the top companies by revenue driven by their significant oil production.
In 2023, Chinese oil firms imported a record volume of discounted Russian crude oil, making it the country’s top supplier last year.
Today, Sinopec is the largest oil refiner by capacity globally, at 5.2 million barrels per day, exceeding Exxon Mobil, at 4.5 million barrels daily.
Business
NAFDAC Gives Conditions For Reopening Sealed Factories of Alcoholic Manufacturers
The reopening and continued opening of any facility shall be subject to:Full compliance with the nationwide recall directive. Payment of all applicable investigative charges and regulatory fees…
• NAFDAC DG, Prof Mojisola Christianah Adeyeye
The National Agency for Food and Drug Administration and Control (NAFDAC) on Monday gave the conditions for the reopening of sealed factories of alcoholic beverages manufacturers nationwide.
At a press briefing in Lagos, the agency’s Director – General, Prof Mojisola Christianah Adeyeye, also directed the Distillers and Blenders Association of Nigeria (DIBAN), the Association of Food, Beverage and Tobacco Employers (AFBTE), and their member companies who have not comply with the ban on alcoholic beverages packaged in sachets and PET (plastic) bottles below 200ml to do so.
“Affected manufacturers are required to immediately commence a nationwide recall of all alcoholic drinks packaged in sachets and PET bottles below 200ml from distributors, warehouses, and other points within the supply chain and submit to the agency for destruction,” she said.
Emphasising on reopening sealed factories, she said: ” NAFDAC imposed investigative charges on defaulting companies found to have violated regulatory directives relating to the manufacture and distribution of alcoholic beverages in prohibited package sizes.
The affected companies are required to settle the applicable charges within the stipulated period and comply fully with all regulatory directives issued by the Agency.
The Agency wishes to emphasize that all recalled alcoholic products shall be subjected to inventory verification and destruction under NAFDAC supervision in accordance with the terms of the enforcement undertaking. Manufacturers shall bear the full cost of such destruction exercises.
Furthermore, before any sealed facility involved in the production of alcoholic beverages in sachets or PET bottles below 200ml can be reopened, NAFDAC will require satisfactory evidence that the production lines used for the prohibited package sizes have been dismantled, permanently disabled, or reconfigured to prevent the manufacture and packaging of alcoholic products in sachets and PET bottles below 200ml.
Such dismantling or reconfiguration shall be carried out under the direct supervision and verification of NAFDAC officers.
The reopening and continued opening of any facility shall be subject to:Full compliance with the nationwide recall directive. Payment of all applicable investigative charges and regulatory fees.Successful destruction of recalled products under NAFDAC supervision. Verification of the dismantling, reconfiguration, or decommissioning of equipment used for prohibited package sizes.Satisfactory inspection and certification by NAFDAC that the facility is compliant with all regulatory requirements.”
Business
Cybercriminals cloning DStv, other brands to steal bank accounts across Africa
According to cybersecurity company NordVPN, the campaign distributes Remote Access Trojans (RATs) and banking trojans, forms of malware that can give criminals control over infected devices and access to sensitive information.
Cybercriminals are impersonating popular companies and government agencies across Africa in a campaign designed to take over smartphones and bank accounts.
More than 100 fake websites linked to the malware campaign have been identified since August 2025.
Brands including DStv, Takealot and South African Airways, as well as the South African Revenue Service (SARS), are being used to make fraudulent messages and websites appear legitimate.
According to cybersecurity company NordVPN, the campaign distributes Remote Access Trojans (RATs) and banking trojans, forms of malware that can give criminals control over infected devices and access to sensitive information.
The attacks are particularly concerning in South Africa, where Android dominates the mobile operating system market.
NordVPN said the attacks typically begin with social engineering, where criminals send convincing messages through SMS, WhatsApp or social media.
The messages may contain urgent offers or requests involving job opportunities, tax refunds, identity renewals or pension verification.
Victims are then directed to fake websites designed to closely resemble the official websites of trusted organisations.
The sites encourage users to download an Android application. Once installed, the malicious software can operate quietly in the background, including after the smartphone is restarted.
Business
Cement price hits N16,000 per bag
The current cement prices mark a steep rise from late 2024, when a bag sold for around N7,500.
• Chairman of BUA cement, Abdul Samad Rabiu (ASR)
Cement dealers across Nigeria have announced fresh price increases, with a 50kg bag now selling for as much as N16,000 in some markets, up from N13,000 recorded by buyers just days earlier.
The current cement prices mark a steep rise from late 2024, when a bag sold for around N7,500.
By the third quarter of 2025, that had risen to about N9,000 before reaching the N12,000 to N16,000 range now seen across different locations.
Other building materials have followed a similar upward path. Blocks have climbed from around N600 to N1,100 each.
Sand has gone from N165,000 to N250,000 per 30 tonnes. Granite has risen from N530,000 to N780,000 per 30 tonnes.
Reinforcing steel now costs N1.15 million per tonne, up from N850,000.
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Business56 minutes agoNAFDAC Gives Conditions For Reopening Sealed Factories of Alcoholic Manufacturers
