MTN Nigeria invested N1.62 trillion in network infrastructure between 2025 and the first half of 2026, as its profit after tax rose 70.6 per cent to N707.5 billion.
The Chief Financial Officer of MTN Nigeria, Mr Modupe Kadri, disclosed this during an interactive session with journalists in Lagos at the company’s H1 2026 Mid-Year Catch-Up Presentation.
The presentation was titled “Beyond the Numbers: What the Results Tell Us About Nigeria’s Digital Future.”
Kadri said the sustained investment was aimed at expanding broadband access, improving service quality and supporting Nigeria’s digital economy and long-term growth.
He said the telecom operator reported N3 trillion in service revenue in H1 2026, representing a 25.9 per cent year-on-year increase, driven mainly by data services.
According to him, data revenue rose 38.4 per cent to N1.70 trillion, accounting for 57 per cent of total service revenue, while voice contributed N993 billion, or 33 per cent.
“Active data users increased 9.3 per cent to 55.7 million, while subscribers grew by 4.9 per cent to 92.2 million during the period.
“Network data traffic expanded 25.8 per cent as average monthly data consumption reached 14.8GB per user, reflecting rising demand for digital services,” the CFO disclosed.
According to Kadri, capital expenditure, excluding leases, stood at N620.5 billion in H1 2026 after the company invested N1.003 trillion in 2025.
He said the investments expanded network capacity, reduced congestion and strengthened customer experience through new sites, fibre deployment and data centre infrastructure.
Kadri noted that the network now comprised more than 62,000 base stations, over 43,000 kilometres of fibre and 16 switching centres nationwide.
The infrastructure currently provides 93.7 per cent 2G, 87.6 per cent 3G and 84.6 per cent 4G population coverage, with 5G reaching 12.8 per cent.
He added that every additional gigabyte consumed required capacity to be built before revenue was realised, making continuous investment critical to sustaining Nigeria’s digital transformation.
The CFO also reported free cash flow of N712.7 billion, up 73.9 per cent, and declared an interim dividend of N26 per share, payable on September 7.
According to him, operating expenses grew by 11.3 per cent despite inflationary pressures, rising diesel costs and global equipment price increases.
He said all foreign currency loans had been fully repaid, reducing foreign exchange exposure from a peak of $417 million in 2023 to zero.
On economic impact, MTN said it paid N622.6 billion in taxes, duties and regulatory levies in H1 2026 and spent N1.5 trillion on Nigerian suppliers and service providers.
Kadri stated that the telecommunications sector contributed about 9.2 per cent to Nigeria’s Gross Domestic Product, while MTN supported about two million jobs through direct and indirect employment, agents and trade partners.
He said the MTN Foundation invested N1.4 billion in education, healthcare and entrepreneurship programmes during H1 2026, bringing cumulative investment since inception to N35.7 billion across more than 1,090 project sites.
The company also disclosed that it had committed N202.8 billion to reconstructing the 110-kilometre Enugu-Onitsha Expressway under the Road Infrastructure Tax Credit Scheme, with the project over 75 per cent completed.
It said sustained investment in digital infrastructure, artificial intelligence, fibre connectivity and financial technology would remain central to Nigeria’s economic competitiveness and inclusive growth.
