MTN Nigeria Communications Plc paid N295.4 billion in income tax during the nine months ended September 30, 2026, representing an increase of approximately 1,271% from N21.5 billion in the corresponding period of 2025.

According to the company’s unaudited consolidated statement of cash flows, the amount paid was nearly 14 times the previous year’s figure, reflecting a substantial increase in cash income tax payments.

The increase came as MTN Nigeria’s pre-tax profit rose by 59.4% to N1.80 trillion from N1.13 trillion, while the income tax expense recognised in its income statement increased by 67.6% to N630.5 billion from N376.3 billion.

The difference between cash income tax paid and income tax expense reflects the distinction between actual payments made during the reporting period and the tax charge recognised against earnings.

Key Highlights

  • Tax paid: N295.4 billion, up approximately 1,271% from N21.5 billion in the corresponding period of 2025.
  • Tax expense: N630.5 billion, up 67.6% from N376.3 billion.
  • Revenue: N4.61 trillion, up 23.6% from N3.73 trillion.
  • Operating profit: N1.99 trillion, up 38.2% from N1.44 trillion.
  • Profit before tax: N1.80 trillion, up 59.4% from N1.13 trillion.
  • Profit after tax: N1.17 trillion, up 55.3% from N750.2 billion.
  • EBITDA: N2.62 trillion, up 36.8% from N1.92 trillion.
  • Net cash generated from operating activities: N2.31 trillion, up from N1.56 trillion.

Tax expense rises to N630.5 billion

MTN Nigeria’s income statement shows that its tax expense increased to N630.5 billion in the nine months to September 2026, compared with N376.3 billion in the same period of 2025.

  • This represents a 67.6% increase in the tax charge recognised against its earnings, taking the effective tax rate to approximately 35.1% of profit before tax, compared with 33.4% a year earlier.
  • The tax expense recorded in the income statement differs from the amount paid in cash during the period.
  • Tax expense reflects the charge recognised against earnings, while cash tax payments represent the amount actually paid to tax authorities during the reporting period.

The distinction is important in assessing MTN Nigeria’s tax position, as the N295.4 billion paid during the nine-month period was lower than the N630.5 billion tax expense recognised in its income statement.

Profit before tax rises 59.4% to N1.80 trillion

Nairametrics had earlier reported that MTN Nigeria generated N4.61 trillion in revenue in the nine months ended September 2026, representing a 23.6% increase from N3.73 trillion in the corresponding period of 2025.

  • Its operating profit rose by 38.2% to N1.99 trillion from N1.44 trillion, while earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 36.8% to N2.62 trillion.
  • Profit after tax climbed by 55.3% to N1.17 trillion from N750.2 billion a year earlier, supported by stronger revenue growth and lower net finance costs. Net finance costs declined by 25.3% to N277.0 billion from N370.9 billion.
  • Cash generated from operations rose to N2.87 trillion from N1.97 trillion, while net cash generated from operating activities increased to N2.31 trillion from N1.56 trillion, after accounting for interest received, finance costs paid and tax payments.

Market reaction

Shares of MTN Nigeria Communications Plc rose by 3.03% to close at N850 on the Nigerian Exchange on Friday, October 30, 2026, gaining N25 from the previous closing price of N825.

The stock opened at N825 and traded between a low of N844 and a high of N850 during the session. A total of 1.22 million shares exchanged hands, with a combined value of approximately N1.01 billion.

Despite the gain, MTN Nigeria remained below its 52-week high of N915, while its 52-week low stood at N429.30.