MTN Nigeria Profit Soars 71% as Half-Year Revenue Hits N3 Trillion
MTN Nigeria Communications Plc reported a 70.6% increase in profit after tax for the first half of 2026, supported by strong demand for data services, subscriber growth and improved macroeconomic conditions.
The telecommunications company said in its financial statements released on Thursday that profit after tax rose to N707.54 billion from N414.86 billion in the corresponding period of 2025.
Service revenue increased by 25.9% to N3 trillion, while the company’s subscriber base expanded by 8.9% to 92.2 million.
MTN Nigeria added 4.9 million net subscribers during the six-month period. Active data users also increased by 2.5 million to 55.7 million, reflecting sustained demand for data-intensive services and continued smartphone adoption.
Chief Executive Officer Karl Toriola attributed the results to resilient customer demand, disciplined execution and the company’s focus on operational efficiency.
“We delivered a strong first-half performance, with sustained commercial momentum, improved profitability and robust cash generation,” he said.
He noted that the operating environment remained challenging because of elevated geopolitical tensions, volatility in global energy markets and persistent inflationary pressures.
However, the stronger and relatively stable naira improved planning visibility and helped moderate some costs. The currency closed the period at N1,380 to the dollar, compared with N1,530 to the dollar at the end of the first half of 2025.
MTN Nigeria’s fintech revenue declined by 7.2%, following the temporary suspension of its airtime and data credit service, which is a major contributor to the segment.
Despite the overall decline, revenue from the underlying mobile money business surged by about 132%. Active mobile money wallets increased by 1.3 million during the period to five million.
The company said it was also advancing the structural separation of its fintech business after receiving shareholder approval, although the transaction remains subject to regulatory clearance.
MTN Nigeria expects the separation to improve balance-sheet flexibility, reduce future funding obligations and allow the company to retain meaningful exposure to the fintech business’s long-term growth.
