Nigeria's NGX gains 0.5% as MTN and energy earnings drive narrative
The NGX ASI closed at 1,839.6, up 0.5043% on August 5, in a market where 30 stocks fell despite pockets of rotation, according to August 5 analyst notes. MTN Nigeria added 4.9 million subscribers in H1 2026 and lifted service revenue by 25.9% to 3 trillion naira, while also clearing its FX debt, Techeconomy and Punch Newspapers reported. That momentum was partly offset by a 72% collapse in MTN Nigeria's Q2 fintech revenue after the Xtratime suspension, according to Marketing Edge Magazine. Elsewhere, cement companies grew profit by 40% to 1.17 trillion naira in H1, while Seplat Energy's profit after tax surged 498% to $164 million, The Guardian Nigeria News and Daily Trust reported.
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