MTN Nigeria leads headlines as NGX ASI rises 0.67%
The NGX ASI closed at 1,807.83, up 0.6738% on June 15, after a 2.79% weekly gain over June 8-11, according to analyst reports. MTN Nigeria drove several headlines, including a 34 MWp solar PV and 40 MWh battery storage partnership with First WATT Renewable, according to SolarQuarter, while also defending data pricing and rolling out a new monitoring platform, according to Extensia Ltd, Tech Review Africa and TechAfrica News. The company also said it remitted N878.7 billion in taxes and levies to the federal government, The Nation Newspaper reported. In corporate news, Seplat Energy announced a leadership change involving Tony Elumelu, according to Channels Television, while Heirs Energies saw its $750 million financing named oil and gas deal of the year, Majorwaves Energy Report said.
Related stories
Market Bulletin Suspension of trading in the shares of Fortis Global Insurance Plc
NGX ASI rises 0.33% as MTN Nigeria rolls out 34 MWp of solar
The NGX ASI rose 0.3285% to 1,805.06 on June 17, in a mixed market where 52 stocks declined, according to analyst notes. MTN Nigeria partnered with First WATT to deploy 34 MWp of solar PV, 40 MWh of battery storage and EV charging infrastructure across critical facilities, according to FSX Business and SolarQuarter. On the corporate front, Africa’s largest bank is backing the Dangote refinery IPO, Techeconomy reports, with no additional timetable disclosed. Among stock moves, Cornerstone Insurance jumped 9.3% on June 17, while DANGSUGAR reached NGN 79.5 over 5 days despite broader market pressure, according to analysts.
Nigerian Exchange — FCMB Slides 8.8% in 5 Days Despite a 2.8 P/E
FCMB is drawing attention after falling 8.8% in five sessions to 10.9 NGN, even as the Nigerian market saw 52 decliners on June 17, 2026. The stock pairs a low 2.8 P/E with a weakened technical setup, reflected in an RSI of 40.79.