MTN Nigeria has reported profit after tax of ₦1.2 trillion (approximately US$840 million) for the nine months ended 30 September 2026, representing a 55.3% increase year on year as stronger service revenue and improved operating margins supported its financial performance.
The company’s profit margin widened by 5.1 percentage points to 25.3%, while earnings per share increased by 55.3% to ₦55.60 (approximately US$0.039). The results point to continued financial recovery and stronger profitability, with the third quarter providing a significant contribution to the nine-month performance.
Service revenue increased by 19.7% in the third quarter, accelerating to 21.6% in September alone. Quarterly earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 32.8%, while the EBITDA margin expanded by 5.8 percentage points to 58.7%.
For the nine-month period, service revenue grew by 23.7%, with the EBITDA margin reaching 56.9%. Mobile financial services also recorded strong growth, with core mobile money revenue increasing by 102.2%. Revenue from airtime and data credit services rose by 78.5% compared with the second quarter.
MTN Nigeria’s subscriber base expanded by 10.9% to 94.7 million, while active data users increased by 12% to 57.2 million. The growth in data usage and connectivity services is particularly relevant to Nigeria’s expanding digital economy, where mobile networks provide an increasingly important route to online entertainment, video consumption and digital services.
Chief Executive Officer Karl Toriola said the operator would continue implementing its efficiency programme. MTN Nigeria is guiding towards service revenue growth of at least the low twenties in percentage terms, alongside an EBITDA margin in the mid-to-high fifties.
For streaming platforms, content distributors and digital media businesses operating in Nigeria, the expansion of MTN’s active data subscriber base is an important market indicator. The 57.2 million active data users represent a substantial addressable connectivity audience, while the company’s reported demand for home broadband points to opportunities beyond mobile access.
However, the results do not provide evidence of a direct increase in television, pay-TV or streaming subscriptions. The significance for the media sector is therefore primarily infrastructural: stronger mobile data adoption and broadband availability can support the delivery of digital video services, although affordability, network quality and data costs remain important factors in converting connectivity into sustained viewing.
MTN Nigeria remains a major contributor to its parent group’s operations. In the 2025 financial year, Nigeria accounted for 28.1% of MTN Group service revenue and 33% of group EBITDA, underlining the market’s strategic importance to the wider telecommunications business.
The latest results reinforce the role of Nigeria’s connectivity market in MTN’s growth strategy, while providing a useful indicator for media companies assessing the scale of the country’s expanding digital audience.
