MTN Nigeria Invests N1.62trn in Network Infrastructure

MTN Nigeria invested N1.62 trillion in network infrastructure between 2025 and the first half of 2026, as the company recorded a 70.6 per cent increase in profit after tax to N707.5 billion.

The company’s Chief Financial Officer, Mr Modupe Kadri, disclosed this during an interactive session with journalists in Lagos on its H1 2026 Mid-Year Catch-Up Presentation, titled, “Beyond the Numbers: What the Results Tell Us About Nigeria’s Digital Future.”

Kadri said the investments were targeted at expanding broadband access, improving network quality and supporting the country’s digital economy.

He said MTN recorded N3 trillion in service revenue during the first half of 2026, representing a 25.9 per cent increase compared with the corresponding period of 2025.

The growth, he explained, was largely driven by increasing demand for data services, with data revenue rising by 38.4 per cent to N1.70 trillion.

Data accounted for 57 per cent of the company’s total service revenue, while voice services contributed N993 billion, representing 33 per cent.

Kadri said the company’s active data users rose by 9.3 per cent to 55.7 million, while its subscriber base increased by 4.9 per cent to 92.2 million.

He added that network data traffic grew by 25.8 per cent, with average monthly data consumption reaching 14.8GB per user.

According to him, MTN spent N620.5 billion on capital expenditure, excluding leases, in H1 2026, following an investment of N1.003 trillion in 2025.

The investments, he said, had helped to increase network capacity, reduce congestion and improve customer experience through the deployment of new sites, fibre infrastructure and data centres.

Kadri said MTN’s network now comprised more than 62,000 base stations, over 43,000 kilometres of fibre and 16 switching centres across the country.

He said the infrastructure provided 93.7 per cent population coverage on 2G, 87.6 per cent on 3G, 84.6 per cent on 4G and 12.8 per cent on 5G.

The CFO noted that continuous investment was necessary because network capacity had to be expanded ahead of rising data consumption.

He said MTN recorded N712.7 billion in free cash flow during the period, representing a 73.9 per cent increase, while the company declared an interim dividend of N26 per share, payable on Sept. 7.

Kadri said operating expenses grew by 11.3 per cent despite inflationary pressures, higher diesel costs and increased global equipment prices.

He added that MTN had fully repaid its foreign currency loans, bringing its foreign exchange exposure down from a peak of 417 million dollars in 2023 to zero.

On its contribution to the Nigerian economy, the company said it paid N622.6 billion in taxes, duties and regulatory levies during the first half of 2026.

It also spent N1.5 trillion on Nigerian suppliers and service providers within the period.

Kadri said the telecommunications sector contributed about 9.2 per cent to Nigeria’s Gross Domestic Product, while MTN supported approximately 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 initiatives in H1 2026, bringing its 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 the reconstruction of the 110-kilometre Enugu-Onitsha Expressway under the Road Infrastructure Tax Credit Scheme.

According to MTN, the road project is now more than 75 per cent completed.

The company said sustained investment in digital infrastructure, artificial intelligence, fibre connectivity and financial technology would remain critical to strengthening Nigeria’s economic competitiveness and promoting inclusive growth.