MTN Nigeria Posts ₦707.5bn Half-Year Profit, Declares ₦26 Interim Dividend
MTN Nigeria recorded a ₦707.5 billion half-year profit for 2026 and declared a ₦26 interim dividend as strong data revenue and customer demand drove growth despite economic headwinds.
By GLEBM News Desk
MTN Nigeria has reported a strong financial performance for the first half of 2026, posting a profit after tax of ₦707.5 billion, a 70.6 per cent increase over the corresponding period of last year, as rising demand for data services and improved operational efficiency boosted earnings despite a challenging business environment.
The telecommunications company also announced an interim dividend of ₦26 per ordinary share, rewarding shareholders after recording significant growth in revenue and cash generation during the six months ended June 30, 2026. Eligible shareholders whose names appear on the company’s register by August 20 are expected to receive the dividend on September 7, 2026.
MTN’s unaudited financial results filed with the Nigerian Exchange showed that revenue climbed 25.9 per cent to ₦2.99 trillion, up from ₦2.38 trillion in the same period of 2025, reflecting continued growth in customer demand for digital connectivity and internet-based services.
Data services remained the company’s largest revenue driver, generating ₦1.70 trillion, compared with ₦1.23 trillion recorded a year earlier. Voice revenue also increased to ₦897.1 billion, although the stronger performance from data services further highlights the industry’s shift toward broadband and digital consumption.
Commenting on the results, MTN Nigeria’s Chief Executive Officer, Karl Toriola, said the company’s performance demonstrated the resilience of customer demand and the benefits of disciplined execution despite persistent macroeconomic pressures.
According to him, sustained investment in network expansion, digital platforms and customer experience has enabled the company to meet growing demand while strengthening profitability and cash flow.
The company also continued investing heavily in infrastructure, committing more than ₦620 billion in capital expenditure, excluding leases, to expand network capacity, strengthen 5G coverage and improve service quality across the country. Strong operating performance also lifted free cash flow to over ₦712 billion, providing additional flexibility for future investments and shareholder returns.
However, MTN disclosed that its fintech business experienced a sharp decline in revenue during the period following the suspension of its XtraTime airtime lending service after regulatory intervention. While the setback affected fintech earnings, the broader business remained resilient as growth in data and digital services more than offset the impact.
The company said it would continue implementing its long-term strategy of expanding broadband connectivity, strengthening digital services and progressing the planned structural separation of its fintech business, subject to regulatory approvals. The move is expected to improve financial flexibility while allowing the company to maintain exposure to the fast-growing digital financial services market.
MTN’s latest performance comes at a time when Nigeria’s telecommunications industry continues to play an increasingly important role in the country’s digital economy, with demand for high-speed internet, cloud services and digital payments driving sustained growth across the sector. Analysts say the company’s strong earnings underscore the resilience of telecom services despite inflationary pressures, foreign exchange volatility and higher operating costs affecting many sectors of the economy.
