By Peace Udugba
Rising subscriber numbers, surging data usage and ₦1.6trn network investment drive telecoms growth
MTN Nigeria’s strong half-year financial performance has highlighted the continued expansion of Nigeria’s digital economy, driven by rising subscriber numbers, increased data consumption and sustained investment in telecommunications infrastructure.
The telecommunications company reported a 25.9 per cent increase in service revenue to ₦3 trillion in the first half of 2026, while profit after tax rose by 70.6 per cent to ₦707.5 billion.
According to the company’s half-year report, its subscriber base increased by 8.9 per cent to 92.2 million, while active data users grew by 9.3 per cent to 55.7 million.
MTN Nigeria also recorded a 39.2 per cent increase in EBITDA to ₦1.7 trillion, generated ₦712.7 billion in free cash flow and declared an interim dividend of ₦26 per share.
The company’s performance was supported by continued investment in digital and telecommunications infrastructure. MTN Nigeria spent ₦620.5 billion in capital expenditure during the first half of 2026.
Speaking during an interview on Channels Television, MTN Nigeria’s Chief Financial Officer, Modupe Kadri, disclosed that the company had invested approximately ₦1.6 trillion in network expansion between January 2025 and June 2026.
Kadri said the investments were aimed at improving network quality and expanding capacity nationwide, while acknowledging that challenges including fibre cuts, vandalism and disruptions at telecommunications sites continue to affect service delivery.
Beyond its financial results, MTN Nigeria’s performance reflects the growing demand for digital services across the country.
Kadri noted that increased network capacity is consistently matched by rising demand from subscribers.
“Every time we put in capacity on the ground, it’s utilised or congested,” he said.
He explained that changing consumer behaviour has led more Nigerians to rely on internet-based platforms for entertainment, communication, business and other digital services.
Looking ahead, Kadri identified macroeconomic stability as a key factor in sustaining growth in the telecommunications sector. He also noted that stable access to foreign exchange remains important because a significant portion of telecommunications equipment is imported.
The combination of rising subscriber numbers, increased data consumption and sustained infrastructure investment underscores the increasingly important role of telecommunications in Nigeria’s economy.
As businesses, schools, financial institutions and consumers become more dependent on digital platforms, demand for reliable connectivity is expected to continue driving investment across the telecommunications sector.
MTN Nigeria’s half-year performance therefore points to a digital economy that remains on an upward trajectory, with growing digital adoption, network expansion and increased data consumption continuing to underpin growth.
