MTN Nigeria has recorded significant growth in revenue and profitability in the first half of 2026, reflecting the increasing demand for telecommunications and digital services across the country.
The company’s service revenue rose by 25.9 per cent to ₦3 trillion during the six-month period, while profit after tax increased sharply by 70.6 per cent to ₦707.5 billion.
The strong performance was supported by continued growth in its customer base and increased demand for data services. MTN Nigeria’s subscriber base expanded by 8.9 per cent to 92.2 million, while active data users climbed by 9.3 per cent to 55.7 million.
The figures highlight the growing reliance of Nigerians on mobile connectivity for communication, entertainment, financial transactions, business activities and other digital services.
The company’s performance also comes amid substantial investment in network infrastructure, with MTN Nigeria continuing to expand its capacity to meet rising demand for reliable connectivity across the country.
Other key financial indicators were equally positive. EBITDA climbed by 39.2 per cent to ₦1.7 trillion, while the company generated ₦712.7 billion in free cash flow. MTN Nigeria also declared an interim dividend of ₦26 per share.
The strong results come amid significant investment in telecommunications infrastructure. MTN Nigeria spent ₦620.5 billion on capital expenditure during the first half of the year as it continued efforts to expand network capacity and improve service quality across the country.
Speaking during an interview on Channels Television, MTN Nigeria’s Chief Financial Officer, Modupe Kadri, revealed that the company had invested approximately ₦1.6 trillion in network expansion between January 2025 and June 2026.
According to Kadri, the investment is intended to strengthen the company’s network, expand capacity and meet the growing demand for digital services nationwide. However, he acknowledged that the telecommunications industry continues to face operational challenges, including fibre cuts, vandalism and disruptions at telecom sites.
The growing demand for data services remains one of the major factors behind the company’s continued network expansion. As more Nigerians turn to digital platforms for communication, entertainment, education, financial transactions and business activities, network capacity is coming under increasing pressure.
Kadri explained that the company’s investments in additional capacity are quickly absorbed by rising demand from customers.
“Every time we put in capacity on the ground, it’s utilised or congested,” he said.
His comments highlight the pace at which Nigeria’s digital consumption is growing. Increased smartphone adoption, social media use, video streaming, digital payments and online business activities have all contributed to higher demand for reliable and affordable connectivity.
Beyond consumer usage, the expansion of telecommunications infrastructure is increasingly important to businesses and institutions. Banks, schools, government agencies, small businesses and other organisations now depend heavily on digital connectivity to provide services and interact with customers.
Kadri also pointed to macroeconomic conditions as an important factor in determining the sustainability of growth in the telecommunications industry. According to him, greater macroeconomic stability would help create a more predictable environment for continued investment.
Foreign exchange availability is another critical consideration, given that a significant proportion of telecommunications equipment is imported. Stable access to foreign currency therefore remains important for operators seeking to expand networks and maintain existing infrastructure.
MTN Nigeria’s performance comes at a time when telecommunications has become an increasingly important component of Nigeria’s broader economic activity. The sector provides the infrastructure that supports digital commerce, financial technology, remote work, online education and a wide range of technology-driven businesses.
The combination of rising subscriber numbers, growing data consumption and sustained infrastructure investment suggests that demand for connectivity is unlikely to slow significantly in the near term.
For MTN Nigeria, the challenge will be to continue expanding capacity quickly enough to match this demand while navigating infrastructure-related disruptions, operating costs and broader economic pressures.
The company’s half-year performance therefore provides another indication of the growing importance of Nigeria’s digital economy. With millions of consumers and businesses becoming increasingly dependent on digital services, continued investment in telecommunications infrastructure is likely to remain central to the country’s digital transformation.