MTN Nigeria's Profit Surges 55% to N1.17 Trillion in 2026

MTN Nigeria recorded a profit after tax of N1.17 trillion for the nine months ending September 30, 2026, reflecting a 55.3% increase from N750.2 billion in the same period of 2025. This growth was supported by a 23.7% rise in service revenue to N4.6 trillion and a 36.8% increase in earnings before interest, taxes, depreciation, and amortization to N2.6 trillion.

Earnings per share also rose by 55.3% to N55.60, with free cash flow increasing by 57.5% to N1.17 trillion. MTN Nigeria's Chief Executive Officer, Karl Toriola, attributed this performance to rising demand for connectivity and ongoing investments in network infrastructure, which included a capital expenditure of N864.8 billion, a 14.2% increase.

The company expanded its customer base to 94.7 million subscribers, including 57.2 million active data users. Despite challenges such as fibre cuts, Toriola emphasized the company's commitment to improving customer experience and rewarding shareholders, with approximately N861 billion paid in dividends during the period.