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
Exchange Rates Today Friday, 12 June
Black Market Rates
US Dollar (USD) ₦1,397
Great British Pound (GBP) ₦1,850
Official CBN Exchange Rates
US Dollar (USD) ₦1,363. 83
Great British Pound (GBP) ₦1,821. 25
EURO (EUR) ₦1,572. 90
SWISS FRANC (CHF) ₦1,706. 49
JAPANESE YEN (JPN) ₦8.50
CHINESE YUAN (CNY) ₦201.20
West African CFA (XOF) ₦2.40
West African Unit Account (WAUA) ₦1,857. 45
SAUDI RIYAL (SAR) ₦363. 29
SOUTH AFRICAN RAND (ZAR) ₦82.61
Black Market Rates
US Dollar (USD) Buy ₦1,397 Sell ₦1,405
Great British Pound (GBP) Buy ₦1,850 Sell: ₦1,870
EURO (EUR) Buy ₦1,587 Sell ₦1, 607
Canadian Dollar (CAD) Buy ₦1,030 Sell ₦1,100
South African Rand (ZAR) Buy ₦75 Sell ₦90
UAE Dirham Buy ₦350 Sell ₦370
Chinese Yuan Buy ₦180 Sell ₦200
Ghana Cedi (GHS) Buy ₦95 Sell ₦110
West African CFA Buy ₦2, 380 Sell ₦2, 460
Central African CFA Buy ₦2, 220 Sell 2,300
Australian Dollar Buy ₦800 Sell ₦900
Business
Airtel launches data calculator to counter depletion complaints
Commenting on the significance of the launch, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, said that the company remains focused on building a network and customer experience ecosystem anchored on trust, transparency and continuous improvement.
Airtel Nigeria has launched the Airtel Web Data Calculator, a new digital tool designed to help customers estimate and better understand their internet data consumption based on real-life usage patterns.
Available through Airtel’s website, the calculator enables customers to estimate data usage across common digital activities such as video streaming, social media engagement, voice and video calls, and everyday web browsing.
Speaking on the launch, Oladokun Oye, Customer Experience Director, Airtel Nigeria, said that the initiative reflects Airtel’s commitment to customer empowerment and service transparency.
“As Nigerians become increasingly dependent on digital services for work, education, entertainment and communication, it is important that customers have clear visibility into how their data is consumed.
The Airtel Web Data Calculator was developed to help our customers understand their usage patterns better, make informed choices, and enjoy greater confidence in their digital experience,” he said.
Commenting on the significance of the launch, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, said the company remains focused on building a network and customer experience ecosystem anchored on trust, transparency and continuous improvement.
“The future of telecommunications will be defined not only by network investments but also by how effectively operators help customers understand and manage their digital lives. The Airtel Web Data Calculator represents a practical innovation that places more information and control directly in the hands of our customers.” He said.
Business
Kingsley Moghalu chairs Bluecode Africa subsidiary in Nigeria
Moghalu served as Deputy Governor of the Central Bank of Nigeria from 2009 to 2014, heading the Financial System Stability and Operations Directorates at different periods.
Bluecode Africa, the European payments infrastructure operator backed by leading US and European institutional investors, has named Prof Kingsley Chiedu Moghalu as Chairman of the Advisory Board of its Nigerian subsidiary, Bluecode Payments Nigeria Limited as the company formally enters the Nigerian market.
The appointment was jointly announced by Chris Pirkner, Founder of Bluecode, and Odin Krismayr, Managing Director of Bluecode Africa, who described it as a foundational governance decision for the company’s Nigerian and continental operations.
Moghalu served as Deputy Governor of the Central Bank of Nigeria from 2009 to 2014, heading the Financial System Stability and Operations Directorates at different periods.
He led the team that introduced the unique-identifier Bank Verification Number (BVN), enrolling 50 million banking users, simplifying Know Your Customer (KYC) procedures, and doubled Nigeria’s financial inclusion rate from 33 to 60 per cent.
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