MTN Nigeria’s profit after tax climbed by 55.3 per cent to N1.17tn in the first nine months of 2026, as rising data consumption, higher service revenue and improved operating performance strengthened the telecommunications company’s earnings.
The figure, disclosed in the company’s unaudited financial results for the nine months ended September 30, represents an increase from N750.2bn recorded during the corresponding period in 2025. Earnings per share also advanced by 55.3 per cent to N55.60.
Brandspur Banking News Desk reports that MTN’s service revenue reached N4.6tn, representing a 23.7 per cent increase, while earnings before interest, taxes, depreciation and amortisation rose by 36.8 per cent to N2.6tn. Free cash flow also increased by 57.5 per cent to N1.17tn.
The growth coincided with an expansion in the company’s customer base, which reached 94.7 million subscribers. Of this number, 57.2 million were active data users, underscoring the importance of internet services to MTN’s business.
Chief Executive Officer Karl Toriola linked the improved performance to increasing demand for reliable connectivity and sustained investment in network infrastructure.
MTN spent N864.8bn on capital expenditure, excluding leases, during the nine-month period, representing a 14.2 per cent increase. The investment was directed towards expanding network coverage and capacity, including the company’s fibre-to-the-home broadband services.
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The operator said its fibre-to-the-home business now carries approximately 13 per cent of its total data traffic. The expansion is intended to accommodate growing household demand for broadband while easing pressure on its mobile network.
However, infrastructure disruptions, particularly fibre cuts, remain a challenge to consistent service delivery. The company said it would continue investing in measures to improve network reliability and customer experience.
Beyond infrastructure spending, the stronger earnings also allowed MTN to maintain shareholder returns. Chief Financial Officer Modupe Kadri disclosed that the company paid approximately N861bn in dividends during the period while continuing its investment programme.
Kadri also said MTN maintained a positive net cash position despite the substantial expenditure and dividend payments.
The financial results highlight the growing importance of data services to Nigeria’s telecommunications market, where households, businesses and individuals increasingly depend on internet connectivity for communication, education, commercial activities and entertainment.
