NGX rises 1.5% as MTN earnings jump and Seplat tops N10,000
The NGX ASI rose 1.5025% to 1,621.34 on April 30, despite a 7.1% drop in oil, with telecoms leading the move, according to analyst notes. MTN Nigeria reported Q1 2026 profit of N355.5 billion, up 165%, while free cash flow climbed 56% to N326.5 billion and service revenue rose 42%, according to Business News Nigeria, ITWeb Africa and TechAfrica News. The company also warned fuel costs could cut profit by $102 million, according to TechCabal and Punch Newspapers. Seplat Energy posted Q1 post-tax profit of N52.5 billion, revenue of $840.7 million and gross profit of $370.5 million, while announcing interim and special dividends in dollars, according to Nairametrics, Channels Television and TipRanks. Seplat shares also crossed the N10,000 mark on the NGX for the first time, THISDAYLIVE 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%.