NGX rises 1.5% as MTN earnings jump and Seplat tops N10,000
The NGX ASI rose 1.5025% to 1,621.34 on April 30, despite a 7.1% drop in oil, with telecoms leading the move, according to analyst notes. MTN Nigeria reported Q1 2026 profit of N355.5 billion, up 165%, while free cash flow climbed 56% to N326.5 billion and service revenue rose 42%, according to Business News Nigeria, ITWeb Africa and TechAfrica News. The company also warned fuel costs could cut profit by $102 million, according to TechCabal and Punch Newspapers. Seplat Energy posted Q1 post-tax profit of N52.5 billion, revenue of $840.7 million and gross profit of $370.5 million, while announcing interim and special dividends in dollars, according to Nairametrics, Channels Television and TipRanks. Seplat shares also crossed the N10,000 mark on the NGX for the first time, THISDAYLIVE reported.
Related stories
Nigerian Exchange — NAHCO Jumps 9.3% as $86.26 Brent Revives Nigeria Cargo Trade Bet
NAHCO led NGX gainers with a 9.3% jump to 153 NGN in a market where losers still outnumbered gainers 32 to 16. Brent at $86.26 and a strong banking rebound helped lift the NGX All Share Index by 0.81%.
NGX rises 1.28% as MTN’s N3 trln revenue and Seplat’s $164 mln profit lift mood
The NGX ASI closed at 1,856.34, up 1.2777%, extending its weekly gain to 1.28% as Access and UBA led a rebound despite 27 decliners, according to Afrivestia analysts. MTN Nigeria dominated the tape with H1 revenue of nearly N3.0 trillion, net profit of N707.5 billion up 70.6% to 71%, 4.9 million new subscribers and an interim dividend of N26, according to Independent Newspaper Nigeria, Telecom Review Africa, Techeconomy, Investors King and Proshare. The group also cleared its FX debt, opening a new investment phase, while an FCCPC crackdown on airtime lending wiped out nearly 75% of fintech revenue, Business News Nigeria reported. In energy, Seplat Energy posted H1 profit after tax of $164 million, up 498%, while NNPC wants to acquire 10% of its JV for $281.6 million, according to Daily Trust and Punch Newspapers. In materials, cement companies lifted H1 profit by 40% to N1.17 trillion, while BUA Cement wants to add 3 mmtpa through a greenfield plant and a brownfield project after approving a N10.00 per share dividend, according to The Guardian Nigeria News, LEADERSHIP Newspapers and Proshare.
Nigerian Exchange — INTENEGINS slides 5.8% in 5 days as NGX ASI rises 1.28%
INTENEGINS fell 5.8% over five sessions to 4.04 NGN, underperforming a 1.28% rise in the NGX ASI. With an RSI of 40.29, a P/E of 18.4 and high risk, the stock is showing relative weakness in a sharply mixed insurance segment.