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.
Related stories
Nigerian Exchange — ASI Slips 0.45% as Insurers Trade 2.37bn Shares Despite Price Pressure
The NGX ASI fell 0.45% in the week to August 14, 2026, with insurance names dominating turnover. FTGINSURE traded 2.37 billion shares while dropping 9.3%, as Trans-Nationwide Express and Guinea Insurance posted standout gains outside recently over-covered stocks.
MTN leads NGX headlines as ASI rises 0.86% to 1,895.85
The NGX ASI rose 0.8613% to 1,895.85 on Aug. 13, despite 33 decliners, while John Holt jumped 9.9% after its Q2 results, according to analyst notes. MTN Nigeria dominated headlines with N1.62 trillion to N1.63 trillion in capex and N3 trillion in H1 revenue, while its fintech revenue fell 7% after lending rules, according to APAnews, Punch and The Guardian Nigeria. The group is still awaiting CBN approval to complete the sale of a 60% stake in its fintech unit, Business Post Nigeria reported, keeping the transaction conditional. Elsewhere, BUA Cement wants to lift capacity with a 3 mmtpa greenfield plant and a brownfield project, according to LEADERSHIP, while the JSE is pursuing a secondary listing for Dangote Refinery’s $5 billion IPO, Financial Nigeria reported.
Nigerian Exchange — DANGSUGAR slides 9.1% in 5 days as DANGCEM rebounds 8.7%
DANGSUGAR fell to 70.0 NGN after a 9.1% five-day drop, even as the NGX ASI gained 0.86%. The contrast with DANGCEM, up 8.7% to 1,047.0 NGN, points to a clear rotation inside the Dangote universe.