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MTN Nigeria’s capital expenditure, excluding leases, rose 14.2 percent to ₦864.8 billion in the first nine months of 2026.
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The telecoms operator’s customer base expanded to 94.7 million subscribers, including 57.2 million active data users.
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Profit after tax increased 55.3 percent to ₦1.17 trillion, while the company paid approximately ₦861 billion in dividends during the period.
November 3, (THEWILL) – MTN Nigeria invested ₦864.8 billion in network expansion in the first nine months of 2026 as the telecommunications operator increased spending to accommodate rising demand for data and broadband services.
The capital expenditure, excluding leases, represented a 14.2 percent increase from the ₦757.3 billion recorded in the corresponding period of 2025, according to the company’s unaudited financial results for the nine months ended September 30, 2026.
The investment came as MTN Nigeria’s customer base expanded to 94.7 million subscribers, including 57.2 million active data users, highlighting the growing contribution of internet services to its business.
Chief Executive Officer, Karl Toriola, said the spending was driven by increasing demand for connectivity and the need to strengthen network capacity and coverage.
He noted that the company would continue investing in infrastructure to ensure its network could support the growing number of customers relying on its services for work, education, business and entertainment.
Fibre Expansion Supports Rising Data Demand
A significant part of MTN Nigeria’s infrastructure programme has involved expanding its fibre-to-the-home (FTTH) services to meet demand for fixed broadband connectivity.
Toriola said the company had led the FTTH market, with the service accounting for about 13 percent of its total data traffic.
He explained the expansion was also easing pressure on the mobile network by shifting some household data consumption to fibre infrastructure.
The operator’s unlimited fibre broadband offerings are designed to support households with increasing internet requirements, including remote work, online learning and digital entertainment.
However, Toriola identified fibre cuts and other infrastructure disruptions as continuing challenges to consistent service delivery.
The company said it would sustain investments to improve network coverage, capacity and customer experience.
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Profit Rises 55.3 Percent As Dividend Payments Reach ₦861bn
The network investment coincided with stronger financial performance, as MTN Nigeria’s profit after tax increased 55.3 percent to ₦1.17 trillion in the nine months.
Service revenue rose 23.7 percent to ₦4.6 trillion, while earnings before interest, taxes, depreciation and amortisation (EBITDA) grew 36.8 percent to ₦2.6 trillion.
Free cash flow also increased 57.5 percent to ₦1.17 trillion, while earnings per share advanced 55.3 percent to ₦55.60.
The stronger earnings supported shareholder distributions alongside the company’s infrastructure commitments.
The Chief Financial Officer, Modupe Kadri, said MTN Nigeria paid approximately ₦861 billion in dividends during the nine months.
He added that the company maintained a positive net cash position despite its capital expenditure and dividend payments, reflecting its ability to fund network investments while rewarding shareholders.
The combination of higher capital spending, stronger earnings, and substantial dividend payments places MTN Nigeria’s financial performance against two priorities: expanding the infrastructure needed to support data growth and sustaining returns to investors.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
