H1 2026 REPORT: MTN Nigeria Posts ₦2.99tn Revenue As Data Demands Offset Economic Pressures
MTN Nigeria recorded a strong financial performance in the first half of 2026, posting a 25.9 per cent year-on-year increase in revenue to ₦2.99 trillion, driven by surging demand for data services, growth in fintech and digital businesses, and the successful implementation of tariff adjustments despite persistent economic challenges.
The telecommunications giant’s performance demonstrates the resilience of consumer demand for digital connectivity, even as Nigerians continue to grapple with high inflation and rising living costs.
According to the company, the phased implementation of new voice and data tariffs, approved by the Nigerian Communications Commission (NCC), largely boosted second-quarter earnings, while increased smartphone penetration and higher internet consumption further strengthened revenue growth.
Speaking on the company’s half-year performance, Modupe Kadri, Chief Finance Officer of MTN Nigeria, attributed the growth to sustained investment in network infrastructure, operational efficiency and the company’s expanding digital ecosystem, which continues to meet increasing customer demand for connectivity and financial services.
Data remained MTN’s strongest growth engine as Nigerians continued to prioritise internet access for video streaming, social media, online learning, remote work and digital commerce despite higher data prices. Industry data also indicate that national internet consumption has continued to rise, highlighting the increasing dependence on digital services across the country.
Beyond revenue growth, MTN delivered significant improvements across its key financial indicators. Operating profit rose 41.9 per cent to ₦1.27 trillion, while profit before tax increased 75.4 per cent to ₦1.09 trillion. Profit after tax surged 70.6 per cent to ₦707.5 billion, compared with ₦414.9 billion recorded in the corresponding period of 2025. Earnings per share also climbed to ₦33.76 from ₦19.80 a year earlier.
The company also declared an interim dividend of ₦26 per share, reflecting management’s confidence in the business’s financial position and its commitment to delivering value to shareholders.
Reports indicated that the impressive performance came even as consumers faced economic headwinds, underscoring the essential role mobile connectivity now plays in everyday life. Higher spending on mobile data, enterprise digital solutions and financial technology services helped cushion the impact of inflationary pressures on consumer spending.
The company’s fintech business, MOMO PSB, has also continued to gain momentum, supported by increasing adoption of digital payment solutions and mobile financial services, reinforcing the company’s strategy of diversifying beyond traditional voice revenue. Investments in network expansion and service quality also contributed to stronger customer engagement and higher data usage.
looking ahead, MTN Nigeria has expressed optimism about sustaining its growth trajectory in the second half of 2026. The company expects continued momentum from rising data consumption, expanding broadband penetration, growing enterprise demand for digital solutions and further growth in its fintech business, while maintaining disciplined capital allocation and operational efficiency.
