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MTN Nigeria has recorded nearly N3 trillion in revenue for the first half of 2026, driven by strong demand for mobile data as more Nigerians rely on internet services despite rising living costs.
The country’s largest telecommunications operator reported N2.99 trillion in revenue for the six months ended June 30, 2026, marking a 25.9 percent increase from N2.38 trillion recorded during the same period in 2025.
Service revenue also rose by 25.9 percent to N2.97 trillion, with data services accounting for the biggest share of the growth.
MTN’s data revenue jumped 38.4 percent to N1.70 trillion, making it the company’s strongest revenue driver during the period.
The telecom company said network traffic increased by 25.8 percent, while average monthly data consumption per subscriber rose 15.2 percent to 14.8GB. Smartphone penetration on its network also climbed to 66.4 percent.
Voice revenue increased by 12 percent to N993.5 billion, although growth remained slower than data as more customers switched to internet-based communication and digital services.
MTN added 4.9 million new subscribers during the six-month period, bringing its total customer base to 92.2 million, while active data users rose by 2.5 million to 55.7 million.
Chief Executive Officer of MTN Nigeria, Karl Toriola, said the company maintained strong performance despite economic challenges.
“We delivered a strong first-half performance, with sustained commercial momentum, improved profitability and robust cash generation,” he said.
The company’s profit after tax rose 70.6 percent to N707.5 billion, while earnings before interest, tax, depreciation and amortisation (EBITDA) increased 39.2 percent to N1.67 trillion.
MTN also benefited from a more stable foreign exchange market.
The company reported a N36.4 billion foreign exchange gain during the period, compared with a N5.2 billion loss recorded a year earlier.
It also cleared all its foreign currency loans, reducing its exposure to exchange rate volatility.
However, its fintech business recorded a 7.2 percent decline in revenue after the temporary suspension of its airtime and data credit service.
Despite the setback, MTN said its mobile money business remained strong, with active MoMo wallets increasing from 2.7 million to five million.
The company invested N620.5 billion in network expansion during the first half of the year, focusing on improving coverage, expanding fibre connectivity, and rolling out more 5G broadband services.
Looking ahead, MTN said it expects stronger growth in the second half of 2026 as airtime and data credit services resume, smartphone adoption rises, broadband demand increases, and enterprise digital services continue to expand.
