MTN Nigeria has paid ₦295.4 billion in income tax in the first nine months of 2026 — a dramatic increase from the ₦21.5 billion it paid during the same period last year.
That represents a reported rise of approximately 1,271%, making the figure one of the standout numbers in the telecom giant’s latest financial results.
But there’s an important detail behind the headline: the ₦295.4 billion is the amount MTN paid in cash, not its total tax expense for the period. Its income statement recorded a much larger tax charge of ₦630.5 billion.
The distinction matters because the two figures measure different things. And when viewed alongside MTN’s revenue and profit growth, they tell a broader story about the company’s financial performance — and its contribution to government revenue.
How Did MTN’s Tax Payments Increase by 1,271%?
According to MTN Nigeria’s unaudited financial statements for the nine months ended September 30, 2026, the company paid ₦295.4 billion in income tax, compared with ₦21.5 billion during the corresponding period in 2025.
That means its cash income tax payments were nearly 14 times higher year on year.
MTN Nigeria’s cash income tax payments
Nine months of 2025
₦21.5bn
Nine months of 2026
₦295.4bn
Year-on-year increase 1,271%
Cash income tax paid, not the total tax expense recognised in the income statement.
The increase came during a period of stronger earnings, higher revenue and improved operating performance.
However, it would be misleading to assume that MTN’s tax payments increased by 1,271% simply because its profits increased. Its profit before tax rose by 59.4%, while the cash tax payments were affected by the timing and settlement of tax obligations.
Why Is MTN’s Tax Expense Higher Than the Amount It Paid?
This is one of the most important details in the financial report.
MTN Nigeria recorded an income tax expense of ₦630.5 billion for the nine months ended September 2026. That was 67.6% higher than the ₦376.3 billion recorded in the same period of 2025.
But the company actually paid ₦295.4 billion in cash income tax during the period.
Why are the figures different?
Because tax expense and cash tax paid are not the same thing.
Tax expense is the tax charge recognised in a company’s financial statements against its earnings for the reporting period.
Cash tax paid is the actual amount transferred to tax authorities during that period.
The timing of tax payments, outstanding tax obligations and accounting adjustments can cause these numbers to differ.
MTN’s effective tax rate also increased to approximately 35.1%, compared with 33.4% in the corresponding period of 2025.
So, while the ₦295.4 billion payment is the headline figure, the ₦630.5 billion tax expense provides another important view of the company’s tax position.
MTN Nigeria’s Revenue Climbs to ₦4.61 Trillion
The higher tax payments came as MTN Nigeria reported stronger financial performance.
For the nine months ended September 30, 2026, the telecom operator generated ₦4.61 trillion in revenue, up 23.6% from ₦3.73 trillion in the corresponding period of 2025.
Its major financial indicators also improved:
The numbers show that MTN’s earnings grew faster than its revenue, suggesting improved profitability and operating leverage during the period.
Data Services Are Driving MTN’s GrowthOne major contributor to MTN Nigeria’s performance is the continued demand for mobile data.
Data revenue reached approximately ₦2.68 trillion, representing a 35.8% increase from ₦1.98 trillion in the same period of 2025.
Other service revenue categories also recorded growth:
Voice revenue increased by 11.1% to ₦1.50 trillion.
Digital services revenue rose by 24% to ₦88.3 billion.
Other service revenue increased by 21.3% to ₦219.2 billion.
However, fintech revenue declined by 25.9% to ₦97.5 billion.
This is worth noting because MTN has been expanding beyond traditional telecommunications into digital financial services. The decline suggests that not every part of its business experienced the same growth during the reporting period.
The company’s data business remains particularly important as more Nigerians rely on mobile internet for communication, entertainment, education, remote work and digital transactions.
MTN Now Has 94.7 Million Mobile Subscribers
MTN’s financial growth also coincided with an increase in its customer base.
As of September 2026, the company reported:
94.7 million mobile subscribers, up 10.9% year on year.
57.2 million active data users, up 12%.
3.2 million monthly active MoMo users, up 11.6%.
The growth in active data users is particularly significant because it supports the company’s increasing dependence on data services as a major revenue driver.
More subscribers do not automatically translate into higher profits, of course. Network investment, operating costs, customer spending and service quality all influence how much revenue a telecom operator ultimately retains.
But MTN’s latest figures suggest that its growing customer base is contributing to a stronger financial position.
What Does This Mean for Nigeria’s Government Revenue?
MTN’s ₦295.4 billion cash income tax payment highlights the importance of large telecommunications companies to Nigeria’s tax base.
Telecommunications infrastructure supports businesses, financial services, online commerce and communication across the country. Major operators also generate significant revenue and taxable profits from these activities.
For the Nigerian government, higher tax collections from profitable businesses can support public finances and reduce dependence on other revenue sources.
However, the figures should be kept in perspective.
The ₦295.4 billion represents MTN Nigeria’s income tax payments for the nine-month reporting period. It is not the company’s total contribution to government revenue, which may also include other taxes, levies, duties and regulatory payments.
It also does not mean every Nigerian telecommunications company experienced a similar increase.
MTN Shares Rise on the Nigerian Exchange
Investors also had a positive trading session following the company’s financial performance.
MTN Nigeria shares rose by 3.03% to close at ₦850 on Friday, October 30, 2026, compared with the previous closing price of ₦825.
The shares traded between ₦844 and ₦850 during the session, while approximately 1.22 million shares changed hands, with a value of around ₦1.01 billion.
Despite the increase, the share price remained below its reported 52-week high of ₦915.
The market movement provides useful context, but one trading session does not establish that investors have fully priced in the company’s latest financial results.
What Happens Next for MTN Nigeria?
MTN’s latest results point to a business benefiting from stronger data demand, subscriber growth and improved profitability.
Investors and industry observers will be watching several things in the coming months:
Revenue growth: Whether data and voice services can maintain their momentum.
Tax obligations: How cash tax payments and recognised tax expenses develop in future reporting periods.
Network investment: Whether MTN can expand network capacity and improve service quality while managing costs.
Fintech performance: Whether its fintech business can recover from the decline recorded in the first nine months.
Shareholder returns: How improved earnings and cash generation influence future dividends and investor confidence.
The company’s performance is encouraging, but sustained growth will depend on its ability to manage operating costs, network investment and the changing demands of Nigeria’s telecommunications market.
Frequently Asked Questions
1. How much income tax did MTN Nigeria pay in 2026?
MTN Nigeria paid ₦295.4 billion in cash income tax during the nine months ended September 30, 2026.
2. How much did MTN pay in the same period in 2025?
The company paid ₦21.5 billion during the corresponding nine-month period in 2025.
3. Why did MTN’s tax payments increase by 1,271%?
The increase reflects a sharp rise in cash tax payments during the reporting period. MTN also recorded higher profits and tax expenses, although the increase in cash payments was much larger than the growth in earnings.
4. What was MTN Nigeria’s revenue for the first nine months of 2026?
MTN Nigeria generated approximately ₦4.61 trillion in revenue, representing 23.6% growth year on year.
5. How much profit did MTN Nigeria make?
The company recorded approximately ₦1.17 trillion in profit after tax for the nine months ended September
