NGX ASI rises 0.85% as MTN and Lafarge lead earnings narrative

The NGX ASI rose 0.85% to 1,702.13 on May 7, after a 1.65% gain on May 6, while NGXGROUP fell 6.2% to NGN150, according to analyst notes. MTN Nigeria drove the earnings story with Q1 2026 profit of NGN546 billion and service revenue of NGN1.5 trillion, up 41.8% to 42%, while shareholders approved a NGN152 billion fintech stake sale, according to Techpoint Africa, Independent Newspaper Nigeria and The Guardian Nigeria News. Lafarge Africa posted Q1 2026 profit of NGN98 billion, or double from a year earlier, proposed a NGN96.64 billion dividend and confirmed the appointment of 5 directors with 3 re-elections, according to THISDAYLIVE, westernpost.ng and Nairametrics. Seplat Energy reported Q1 post-tax profit of NGN52.5 billion, announced interim and special dividends in dollars and crossed the NGN10,000 mark on the NGX, Nairametrics, TipRanks and THISDAYLIVE reported.