Nigeria: NGX ASI climbs 1.98% to 1500.82, BUA Cement hits record
The NGX ASI index climbed 1.98% to close at 1500.82, driven by BUA Cement hitting a record high ahead of a N10 dividend proposal, according to MarketForces Africa. Listed cement firms distributed N1.380 trillion in total dividends, reports LEADERSHIP Newspapers, while MTN Nigeria posted 55% earnings growth, per TechAfrica News. Market capitalization advanced N923 billion week-on-week on buying interest in BUA Cement, notes THISDAYLIVE, reversing the prior -0.77% decline seen on March 13.
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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.