NGX drops 2.36% despite MTN Nigeria and BUA Cement record profits
The NGX ASI dropped 2.36% to close at 1,483.13 points. This decline contrasts with strong corporate performances: MTN Nigeria generated ₦5.2 trillion in 2025 revenue, according to westernpost.ng, while BUA Cement's profit quadrupled and revenue hit ₦1.18 trillion, reports THISDAYLIVE. Dangote Refinery is preparing for an IPO on the NGX, according to african markets.
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NGX ASI falls 1.29% as Seplat reports and MTN Nigeria reshuffles ₦152 bln
The NGX ASI closed at 1,680.18, down 1.2896% on May 8, after gains of 1.65% on May 6 and 0.85% on May 7, according to the market notes provided. Seplat Energy on May 8 released its unaudited Q1 2026 financial statements for the period ended March 31, 2026, according to Proshare. MTN Nigeria transferred its fintech operations to its parent company in a ₦152 billion restructuring, Marketing Edge reports. Lafarge Africa confirmed the appointment of 5 directors and the re-election of 3 others, according to Nairametrics.
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