MTN Nigeria recorded revenue of ₦2.99 trillion in the first half of 2026, reflecting a 25.9 per cent year-on-year increase as rising demand for mobile data continued to drive growth despite economic challenges and high living costs.
The telecommunications giant reported service revenue of ₦2.97 trillion for the six months ended June 30, 2026, with data services emerging as the strongest growth driver.
Data revenue rose by 38.4 per cent to ₦1.70 trillion, accounting for more than half of service revenue. Network traffic increased by 25.8 per cent, while average monthly data usage per subscriber climbed 15.2 per cent to 14.8GB. Smartphone penetration on MTN’s network also improved to 66.4 per cent.
Voice revenue also grew by 12 per cent to ₦993.5 billion, although at a slower pace than data, reflecting the increasing shift to internet-based communication and digital services.
During the period, MTN added 4.9 million new subscribers, bringing its customer base to 92.2 million. Active data users also increased by 2.5 million to 55.7 million.
Chief Executive Officer Karl Toriola attributed the performance to sustained customer demand despite macroeconomic headwinds, noting that the company achieved improved profitability and strong cash generation.
Profit after tax jumped 70.6 per cent to ₦707.5 billion, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose 39.2 per cent to ₦1.67 trillion. EBITDA margin improved to 55.9 per cent from 50.6 per cent recorded a year earlier.
A more stable foreign exchange environment also boosted earnings. MTN recorded a foreign exchange gain of ₦36.4 billion, compared with a ₦5.2 billion loss in the corresponding period of 2025, while eliminating all outstanding foreign currency loans.
The company’s fintech business posted a 7.2 per cent decline in revenue following the temporary suspension of its airtime and data credit service. However, its mobile money business remained strong, with revenue growing by about 132 per cent and active MoMo wallets increasing to five million from 2.7 million a year earlier.
To support growing demand, MTN invested ₦620.5 billion in network expansion, focusing on increasing capacity, extending coverage and accelerating fibre-to-the-home and 5G fixed wireless broadband deployment.
Looking ahead, the company expects stronger growth in the second half of the year, driven by the resumption of airtime and data credit services, increased smartphone adoption, expanding broadband demand and continued growth in enterprise digital services.