Nigeria Drives MTN Group Growth with Robust First Quarter Results

The Nigerian market has cemented its position as MTN Group’s most profitable, reporting a remarkable 41.7% surge in service revenue during Q1 2026.

This performance builds on the positive momentum from 2025 when MTN Nigeria returned to profitability with N1.1 trillion in after-tax profit—driven by robust service revenue growth. The latest results show a clear trend of market recovery and resilience despite ongoing competition.

Key Highlights from Q1 2026:

• Service Revenue: Grew by 41.7% in Nigeria, outpacing other major markets like Ghana (35.7%) and Côte d’Ivoire (18.3%)
• Profit After Tax: N355.5 billion recorded in Nigeria, demonstrating significant earnings improvement
• Group-Wide Performance: Total service revenue increased by 21.1%, fueled by strong performance in Nigeria and data revenue growth

Competitive Landscape & Future Outlook

While MTN’s Nigerian business continues to thrive, competition remains intense in the prepaid services segment with rivals like Vodacom, Telkom, Rain, and Cell C vying for market share. The company is focused on maintaining its competitive edge through customer value management initiatives and network investments.

Looking ahead, MTN is strategically positioning itself for further growth by:

• Expanding data offerings to capitalize on rising internet penetration across Africa
• Separating fintech operations (like MoMo) to focus on ecosystem development
• Leveraging the acquisition of IHS Towers to strengthen digital infrastructure

The group’s active data users reached 175.6 million, representing a significant opportunity for revenue expansion as more Africans connect to the internet.