MTN Nigeria Aims for ₦6 Trillion Revenue by 2026
MTN Nigeria, the country's leading telecom operator, is on a mission to reach a revenue of over ₦6 trillion by 2026. This ambitious goal is part of the company's medium-term service revenue guidance, which projects at least a low-20% annual growth between 2026 and 2028. Based on its 2025 revenue of ₦5.2 trillion, MTN Nigeria is expected to hit the ₦6.24 trillion mark, with ₦7 trillion well within reach in 2026.
The company's growth strategy focuses on increasing data usage, home broadband, and its fintech play to drive higher revenue per user. MTN Nigeria has seen a significant shift in its revenue mix, with data revenue growing by over 736% since 2020, outpacing voice revenue. In 2025, data revenue accounted for ₦2.78 trillion, while voice revenue stood at ₦1.85 trillion.
The increasing demand for data and internet services in Nigeria is driving MTN's growth. National data consumption rose by 35.7% in 2025 to 13.25 million terabytes, with an average usage per subscriber of 13.1GB. This trend is expected to continue, with MTN investing heavily in fixed wireless access (FWA) and fibre-to-the-home (FTTH) networks.
MTN's fintech arm is also growing rapidly, with core fintech revenue increasing by 186.84% to ₦10.9 billion in 2025. The company aims to reach 30 to 40 million active wallets in its fintech arm, driven by deepened rural penetration, improved app experience, and intensified agent and merchant activations.
The success of MTN's growth strategy will depend on its ability to convert increased data usage and home broadband into higher revenue per user, while controlling costs and FX exposure.
MTN's ambitious revenue target for 2026 is a testament to the growing demand for data and internet services in Nigeria. As the country's leading telecom operator, MTN is well-positioned to capitalize on this trend and drive growth in the fintech sector. However, the company's success will depend on its ability to execute its growth strategy and control costs in a challenging macroeconomic environment. MTN's fintech arm, which has seen significant growth in recent years, is expected to play a key role in driving the company's revenue growth in 2026.
