MTN Nigeria Boosts Infrastructure Spending by 93% to ₦390bn Amid Surging Q1 Profits

MTN Nigeria executed a massive expansion of its network infrastructure during the first quarter of 2026, ramping up capital expenditure by 93% to ₦390.3 billion, Punch reports.

The aggressive capital injection was heavily directed toward expanding network capacity to accommodate skyrocketing demand across its data and financial technology (fintech) ecosystems. The infrastructural drive comes as the telecommunications giant experiences robust, accelerated growth across its primary business segments.

The heavy investment coincided with an exceptionally strong financial performance for the quarter. Driven by the expansion, MTN Nigeria’s quarterly profit after tax surged by a remarkable 165.9%, climbing to ₦355.5 billion from the ₦133.7 billion recorded in the corresponding period of the previous year. Group revenue also maintained a strong upward trajectory, rising 41.6% to breach the trillion-naira milestone at ₦1.4 trillion.

The telecom operator’s capital expenditure strategy underscores its commitment to maintaining dominance in Nigeria's digital economy. By scaling up its infrastructure footprint, MTN aims to seamlessly support the rapid adoption of broadband and MoMo financial services while building out the necessary capacity to navigate evolving market dynamics.