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Article

MTN Nigeria posts ₦355.5bn Q1 profit but warns diesel costs threaten future margins

Techeconomy Apr 30, 2026
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TL;DR

MTN Nigeria reported Q1 2026 profit after tax of ₦355.5 billion, a 165.9% jump year-on-year. With service revenue hitting ₦1.5 trillion and 55 million active data users across its 89.5 million subscriber base.

The telco nearly doubled capital expenditure to ₦390.3 billion, investing aggressively in fibre infrastructure, fixed broadband, and network expansion to capture Nigeria's surging digital demand beyond mobile.

MTN flagged a serious energy risk: if diesel prices average ₦2,000 per litre in H2 2026; driven partly by global oil tensions near the Strait of Hormuz, EBITDA margins could fall by up to 2 percentage points, a significant hit given the sector burns over 480 million litres of diesel annually to keep 20,000+ base stations running.


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