MTN Nigeria profit jumps 55% to ₦1.17tn in nine months
- MTN Nigeria's profit after tax rose 55.3 per cent to ₦1.17tn in the nine months to September 2026.
- The company said service revenue grew 23.7 per cent to ₦4.6tn and it now has 94.7 million subscribers.
- MTN spent ₦864.8bn on its network and paid about ₦861bn in dividends to shareholders.
MTN Nigeria made a profit after tax of ₦1.17tn in the nine months to September 2026, up 55.3 per cent from ₦750.2bn in the same period last year, the telecoms company said in results released on Friday.
The company said service revenue rose 23.7 per cent to ₦4.6tn, while earnings before interest, tax, depreciation and amortisation (EBITDA) grew 36.8 per cent to ₦2.6tn. Earnings per share also rose 55.3 per cent to ₦55.60.
MTN Nigeria is the country's largest telecoms operator. Its results matter to ordinary Nigerians because they show how much money is being made from the calls and data people buy every day, and how much of that is going back into the network.
More data users, more investment
The company said it ended the period with 94.7 million subscribers, including 57.2 million active data users. That growing demand for internet is now a big part of its business.
Chief executive Karl Toriola said capital expenditure, excluding leases, reached ₦864.8bn, up 14.2 per cent, as the company expanded coverage and capacity.
"Every day, millions of people trust MTN to help them work, learn, run their businesses and stay connected," Toriola said.
He said part of the investment went into fibre-to-the-home services, which now carry about 13 per cent of the company's data traffic and help free up space on the mobile network.
Toriola also acknowledged that cuts to fibre cables and other network disruptions remain a problem, and said the company would keep investing to improve service.
Shareholders paid, network still funded
Chief Financial Officer Modupe Kadri said the company paid about ₦861bn in dividends during the period while still funding its network expansion. He said the company kept a positive net cash position.
"We are growing, investing, strengthening profitability and rewarding shareholders simultaneously," he said.
The results did not say whether call or data prices would change. MTN's profit growth comes as Nigerians continue to press for better network quality and fairer data costs.
