Nestlé Nigeria and Lafarge lead headlines as ASI rises 0.21%
The NGX ASI closed at 1,843.49, up 0.206% on June 4, while Aradel fell 9.5% yet led turnover at NGN3.43 billion, according to analyst reports. Nestle Nigeria posted NGN105 billion profit after tax for FY 2025, according to Proshare, while Lafarge Africa said Q1 2026 profit more than doubled to NGN98 billion on stronger sales and cost control, THISDAYLIVE reported. In telecoms, MTN Nigeria said it remitted NGN879 billion in taxes, cut emissions by 6.4% and reached 93.7% population coverage, while saying it wants to connect 8 million homes to fibre by 2028, according to Punch, The Guardian Nigeria News, Encomium Magazine and Africa Business Communities. Elsewhere, BUA Cement spent NGN4.5 billion on distributors, according to THISDAYLIVE, while a Stanbic IBTC independent director sold 303,800 shares in an insider transaction, Investors King reported.
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MTN leads NGX as ASI rises 0.81% amid $5 bln IPO push
The NGX ASI rose 0.81% to 1,871.46 on Aug. 10, after a 1.28% weekly gain as of Aug. 7 despite 27 decliners, according to analyst reports. MTN Nigeria drove the flow with H1 revenue of N2.99 trillion to N3.0 trillion and profit growth of 70.6% to 71% to N707.5 billion, while 4.9 million net subscriber additions lifted service revenue 25.9% to N3.0 trillion, according to Telecom Review Africa, Techeconomy and Investors King. The group also invested N1.62 trillion in network infrastructure and is still awaiting CBN approval to complete the sale of a 60% fintech stake, while the Xtratime suspension triggered a 72% collapse in Q2 fintech revenue, according to APAnews, Business Post Nigeria and Marketing Edge Magazine. Elsewhere, Seplat Energy’s H1 profit after tax jumped 498% to $164 million, cement companies grew H1 profit 40% to N1.17 trillion and BUA Cement wants to add 3 mmtpa through greenfield and brownfield projects, while Dangote Refinery’s $5 billion IPO is drawing closer and the JSE is pursuing a secondary listing, reports Financial Nigeria and African Capital Markets News.
Nigerian Exchange — DANGSUGAR Drops 7.2% in 5 Days as DANGCEM Jumps 8.7%
DANGSUGAR fell 7.2% over five sessions to 73.0 NGN, lagging an NGX ASI that rose 0.81%. The contrast with DANGCEM, up 8.7% to 1,047.0 NGN, points to a clear rotation into cement names and large-cap defensives.
Nigerian Exchange — NAHCO Jumps 9.3% as $86.26 Brent Revives Nigeria Cargo Trade Bet
NAHCO led NGX gainers with a 9.3% jump to 153 NGN in a market where losers still outnumbered gainers 32 to 16. Brent at $86.26 and a strong banking rebound helped lift the NGX All Share Index by 0.81%.