At the close of trade today, 19 May, the Nigerian Stock Exchange All Share Index had a market capitalization of N7,137,597,021,094.14 or $46,049,013,039.32 ($46b). That basically is the total worth of the company’s listed on the exchange as at today.

Today, as well Facebook had its initial IPO and was valued at $104b. Yes, one hundred and four billion dollars, roughly 2.26 times the value of all the quoted company’s on the Nigerian Stock Exchange.

Dangote Cement, the company with the largest market capitalization on the Nigerian Stock Exchange with a market cap N1.9tr ($12b) trades at 8 times its revenue and 14.83 times its profit having made a profit of about N125b ($800m) in 2011.

Facebook on the other hand at a value of $104b is thought to be trading at 28 times its revenue and 104 times its profits. This puts its worldwide trailing profits at $1b, just $200m more than what Dangote Cement made from Nigeria alone.

So, it’s either American Investors are utterly crazy or just overtly bullish. Or maybe we as Nigerians are just not giving our quoted company’s the value that they deserve. What do you think?

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Editor’s note: Op-ed pieces and contributions are the opinions of the writers only and do not represent the opinions of Y!/YNaija.