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MTN Nigeria jumps as NGX ASI rises 0.55% on corporate news flow
The NGX ASI closed up 0.5519% at 1,703.61 on May 14, after a 1.33% rise a day earlier, while banking stocks traded 8.99 billion naira, according to the market bulletin cited in analyst reports. MTN Nigeria led the corporate flow after Q1 2026 profit surged 170% on data growth, according to AD HOC NEWS and Nairametrics. In industrials, Lafarge Africa proposed a 96.64 billion naira dividend and confirmed 5 director appointments alongside 3 re-elections, according to THISDAYLIVE and Nairametrics. In energy, Seplat Energy released Q1 2026 unaudited results and ADES signed a contract worth nearly $100 million with the company, Africa Oil+Gas Report said, while Fitch affirmed Stanbic IBTC Holdings at 'AAA (nga)' with a stable outlook, according to MarketForces Africa.
NGX ASI rebounds 1.33% as Seplat, MTN and Lafarge drive headlines
The NGX ASI rose 1.3289% to 1,694.26 on May 13, after a 1.87% drop on May 12, while DAARCOMM, CWG and Fidson each gained 10%, according to the market bulletin. On the corporate front, Seplat published its quarterly results for the period ended March 31, 2026, while ADES signed a contract worth close to $100 million with Seplat, Africa Oil+Gas Report said, and AD HOC NEWS highlighted the group's earnings and cash-flow strength. MTN Nigeria delivered one of its biggest quarterly profits on record, according to Nairametrics, after transferring its fintech operations to its parent in a 152 billion naira restructuring, Marketing Edge reported. Lafarge Africa proposed a 96.64 billion naira dividend, THISDAYLIVE said, after confirming the appointment of 5 directors and the re-election of 3 others, Nairametrics reported, while NMRC's 11.5 billion naira bond offer was oversubscribed, according to LEADERSHIP Newspapers.
Nigerian Exchange — DAARCOMM, CWG and Fidson Jump 10% as Mid-Caps Drive NGX ASI Up 1.33%
The NGX ASI rose 1.33% on May 13, 2026, as mid-cap buying lifted DAARCOMM, CWG and Fidson by 10% each. The rally broadened across the market even as First HoldCo, NGX Group and several financial names closed lower.