NGX ASI falls 0.95% as Oando jumps 10% in a selective market
The NGX ASI closed at 1,663.06, down 0.9517% on May 18, after a 1.44% weekly decline flagged on May 15 in an analyst report. Oando jumped 10% on 1 billion NGN of turnover on May 18, showing selective buying even as the broader index fell, according to the same report. On earnings, Lafarge Africa said Q1 2026 profit doubled to 98 billion NGN on stronger sales and cost control, while THISDAYLIVE reported a proposed dividend payout of 96.64 billion NGN. In financials and telecoms, MarketForces Africa said Fitch affirmed Stanbic IBTC at AAA(nga) with a stable outlook, while MarketForces Africa and Nairametrics reported MTN Nigeria drove group Q1 earnings growth and returned to profit on FX stability and data growth; LEADERSHIP Newspapers added that NMRC’s 11.5 billion NGN bond offer was oversubscribed.
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