NGX ASI rebounds 1.33% as Seplat, MTN and Lafarge drive headlines
The NGX ASI rose 1.3289% to 1,694.26 on May 13, after a 1.87% drop on May 12, while DAARCOMM, CWG and Fidson each gained 10%, according to the market bulletin. On the corporate front, Seplat published its quarterly results for the period ended March 31, 2026, while ADES signed a contract worth close to $100 million with Seplat, Africa Oil+Gas Report said, and AD HOC NEWS highlighted the group's earnings and cash-flow strength. MTN Nigeria delivered one of its biggest quarterly profits on record, according to Nairametrics, after transferring its fintech operations to its parent in a 152 billion naira restructuring, Marketing Edge reported. Lafarge Africa proposed a 96.64 billion naira dividend, THISDAYLIVE said, after confirming the appointment of 5 directors and the re-election of 3 others, Nairametrics reported, while NMRC's 11.5 billion naira bond offer was oversubscribed, according to LEADERSHIP Newspapers.
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MTN leads NGX narrative with NGN3 trillion H1 revenue
The NGX ASI rose 0.21% to 1,875.44 on Aug. 11, while FTN Cocoa jumped 9.9% according to analyst notes and DANGSUGAR fell 7.2% over 5 days. MTN Nigeria drove the newsflow with nearly NGN3 trillion in H1 2026 revenue, up 25.9%, and 70.6% profit growth, according to CNBC Africa and Telecom Review Africa. The company also said it spent NGN1.62 trillion to NGN1.63 trillion on network capex, according to APAnews and Punch Newspapers, while fintech revenue fell 7% after lending rules, The Guardian Nigeria News reported. In industry, BUA Cement wants to raise capacity with a 3 mmtpa greenfield plant and a brownfield project, according to LEADERSHIP, while Dangote Refinery could pursue a Johannesburg secondary listing as part of a $5 billion IPO, according to Financial Nigeria and African Capital Markets News.
Nigerian Exchange — DANGSUGAR Falls 7.2% in 5 Days as DANGCEM Steals the Spotlight
DANGSUGAR slid 7.2% over five sessions to 73.0 NGN, while DANGCEM rose 8.7% to 1,047.0 NGN. In a mixed Nigerian market, the gap between the two Dangote names points to a clear rotation toward more defensive industrial exposure.
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.