Nigeria’s ASI rises 1.04%, lifted by cement and telecom names
Nigeria’s NGX ASI rose 1.04% to 1,847.86 on June 2, while Transexpress jumped 7.1% and DANGSUGAR rebounded 1.2% to NGN72 after a 17.2% five-day slide, according to analyst notes. Cement names dominated the corporate flow, with Lafarge Africa reporting NGN1.10 trillion in 2025 revenue and NGN411 billion in pretax profit, then NGN98 billion in Q1 2026 profit, while BUA Cement spent NGN4.5 billion on distributors, according to Proshare and THISDAYLIVE. Telecom headlines added support, with MTN Nigeria reporting 93.7% population coverage, NGN2.7 billion invested in communities, a 6.4% emissions cut and NGN878.7 billion to NGN879 billion in tax remittances, according to Encomium Magazine, The Guardian Nigeria News, Punch Newspapers and Business News Nigeria. In financials, Stanbic IBTC secured approval for a NGN4 dividend per share and Fidson Healthcare listed its rights issue, according to Investors King and market bulletins.
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NGX rises 1.28% as MTN’s N3 trln revenue and Seplat’s $164 mln profit lift mood
The NGX ASI closed at 1,856.34, up 1.2777%, extending its weekly gain to 1.28% as Access and UBA led a rebound despite 27 decliners, according to Afrivestia analysts. MTN Nigeria dominated the tape with H1 revenue of nearly N3.0 trillion, net profit of N707.5 billion up 70.6% to 71%, 4.9 million new subscribers and an interim dividend of N26, according to Independent Newspaper Nigeria, Telecom Review Africa, Techeconomy, Investors King and Proshare. The group also cleared its FX debt, opening a new investment phase, while an FCCPC crackdown on airtime lending wiped out nearly 75% of fintech revenue, Business News Nigeria reported. In energy, Seplat Energy posted H1 profit after tax of $164 million, up 498%, while NNPC wants to acquire 10% of its JV for $281.6 million, according to Daily Trust and Punch Newspapers. In materials, cement companies lifted H1 profit by 40% to N1.17 trillion, while BUA Cement wants to add 3 mmtpa through a greenfield plant and a brownfield project after approving a N10.00 per share dividend, according to The Guardian Nigeria News, LEADERSHIP Newspapers and Proshare.
Nigerian Exchange — INTENEGINS slides 5.8% in 5 days as NGX ASI rises 1.28%
INTENEGINS fell 5.8% over five sessions to 4.04 NGN, underperforming a 1.28% rise in the NGX ASI. With an RSI of 40.29, a P/E of 18.4 and high risk, the stock is showing relative weakness in a sharply mixed insurance segment.
Nigerian Exchange — NGX Gains 1.28% for Aug. 3-7 Week as Access, UBA Lift Trade Despite 27 Decliners
The NGX rose 1.28% in the week ended August 7, 2026, led by financials and telecom even as breadth stayed weak at 17 gainers versus 27 losers. Access Holdings, UBA and GTCO drew heavy turnover in a market still tied to naira stability and oil prices.