NGX ASI rises 2.79% as MTN and BUA Cement drive headlines
The NGX ASI closed at 1,795.73, up 2.7894% by June 12, after a 0.56% decline on June 11, according to analyst notes. MTN Nigeria led the newsflow with 3 developments between June 7 and June 9: the company defended data pricing, said it plans to open its billing systems to public scrutiny and highlighted a monitoring platform, while The Nation and The Guardian reported 878.7 billion naira in taxes and levies remitted to the federal government. BUA Cement also drew focus: MarketForces Africa reported a 10% drop in the stock on June 7, while Business News Nigeria highlighted a 189 billion naira dividend for shareholder Abdul Samad Rabiu and profit growth ahead of Lafarge and Dangote. On the regulatory front, NGX put amendments to its closed-end fund listing rules into effect on June 11, following SEC approval on May 26, according to market bulletins.
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MTN leads NGX with N2.99 trln revenue as ASI rises 0.23%
The NGX ASI closed at 1,879.66, up 0.225% on August 12, while NGXGROUP fell 2.8% over 5 days, according to analyst notes. MTN Nigeria drove the flow with H1 revenue of N2.99 trillion, CAPEX of N1.63 trillion and a diesel bill highlighted within a N3 trillion cost narrative, according to Brand Communicator, Punch Newspapers and Business News Nigeria. The company is still awaiting CBN approval to complete the sale of a 60% fintech stake, while fintech revenue fell 7% after lending rules, according to Business Post Nigeria and The Guardian Nigeria. Elsewhere, BUA Cement wants to add 3mmtpa through 1 greenfield plant and 1 brownfield project, reports LEADERSHIP, while the NGX listed Lasaco Assurance's rights issue and Dangote Refinery could pursue a secondary listing tied to a $5 billion IPO, according to the market bulletin and Financial Nigeria.
Nigerian Exchange — NGXGROUP slips 2.8% in 5 days even as NGX ASI edges up 0.23%
NGXGROUP fell 2.8% over five sessions to 136.0 NGN, lagging a mildly positive Nigerian market. With a 28.6 P/E and a 1.47% yield, the stock remains a direct play on trading activity and the broader market cycle.
Nigerian Exchange — Intels Nigeria Jumps 10% as New Government Contracts Lift Q2 Story
Intels Nigeria rose 10% on Wednesday, August 12, 2026, after strong Q2 earnings and fresh government contracts. The NGX ASI added just 0.23%, showing a selective market even as Brent held near $88.85 a barrel.