MTN Nigeria reported a N546.42 billion pre-tax profit for Q1 2026, marking a 169.6% year-on-year surge as data and fintech services drove record-breaking quarterly earnings.
The telecommunications giant saw total revenue climb 41.6% to N1.498 trillion, supported by a net foreign exchange gain of N33.3 billion following the strategic repayment of dollar-denominated loans.
Data revenue served as the primary growth engine, soaring 56.2% to N827.2 billion. This followed a 9.5% increase in active data users, which now totals 55 million subscribers.
Fintech operations also experienced significant scaling, with revenue jumping 77.9%. This reflects deeper penetration of digital payment services and the MoMo PSB platform across the Nigerian market.
Operational efficiency improved as EBITDA margins expanded to 55.3%. However, management warned that rising diesel costs, potentially hitting N2,000 per litre, could compress future margins by 2 percentage points.
This recovery follows a turbulent 2025 where heavy forex losses impacted the bottom line. The current results suggest successful navigation of macro-economic headwinds and a stabilized naira.
Capital expenditure nearly doubled to N390.3 billion this quarter. The investment aims to accelerate 5G deployment to maintain market dominance against increasing competition in the broadband space.
