NGX ASI falls 1.01% despite strong Lafarge and MTN earnings momentum
The NGX ASI closed at 1,646.3, down 1.0078% on May 19, despite pockets of strength as FTN Cocoa and Zichis each rose 10% and Oando also jumped 10% on 1 billion naira in turnover, according to analyst reports. Lafarge Africa reported 1.10 trillion naira in revenue and 411 billion naira in profit before tax for 2025, up 170%, Proshare reported. MTN Nigeria drove the South African group’s first-quarter earnings growth, while its return to profit was supported by FX stability and data growth, according to MarketForces Africa and Nairametrics. BUA Cement released its 2025 audited financial statements, Seplat Energy set the FX rate for its 2025 naira dividends, and Fitch affirmed Stanbic IBTC Holdings at AAA(nga) with a stable outlook, according to Proshare, TipRanks and MarketForces Africa.
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