MTN Nigeria’s profit hits N1.17trn in nine months

MTN Nigeria Communications Plc recorded a 55.3 per cent increase in profit after tax to N1.17trn in the nine months ended September 30, 2026, compared with N750.2bn reported in the corresponding period of 2025.

The telecommunications company also reported a 23.7 per cent increase in service revenue to N4.6trn, reflecting sustained demand for connectivity and continued investment in its network infrastructure.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 36.8 per cent to N2.6trn, while earnings per share increased by 55.3 per cent to N55.60.

The company’s free cash flow also grew by 57.5 per cent to N1.17trn during the period.

MTN Nigeria’s subscriber base stood at 94.7 million, including 57.2 million active data users.

Commenting on the performance, the Chief Executive Officer, Karl Toriola, attributed the growth to rising demand for connectivity and the company’s continued investment in network expansion.

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The company spent N864.8bn on capital expenditure, excluding leases, representing a 14.2 per cent increase.

Its fibre-to-the-home (FTTH) service remained a key contributor to data growth, carrying about 13 per cent of the company’s total data traffic.

However, MTN said fibre cuts and other infrastructure disruptions remained challenges to its operations.

The Chief Financial Officer, Modupe Kadri, said the company distributed approximately N861bn in dividends during the period while maintaining a positive net cash position despite its capital investments and shareholder payouts.