MTN Nigeria and Airtel Nigeria generated approximately ₦2.4 trillion from data services in the first half of 2026, underscoring the shift from voice to internet-based revenue. MTN contributed ₦1.7 trillion, while Airtel brought in ₦691 billion ($507 million), surpassing the ₦1.42 trillion both companies earned from voice services during the same period. This surge coincided with improved foreign exchange stability, which reversed earlier losses seen between 2024 and early 2025, enabling both operators to report net profits.
Capital expenditure rose significantly, with MTN spending ₦620.5 billion and Airtel allocating ₦287.6 billion ($211 million) on network upgrades, including 5G deployment, new towers, and fibre expansion. Despite these investments, service quality remains a public concern, with widespread user complaints on social media about poor connectivity. Airtel focused on combining 5G rollout with satellite partnerships like Starlink's direct-to-cell, while MTN pushed its FibreX initiative using Fixed Wireless Access and Fibre-to-the-Home. However, 5G coverage remains limited to Lagos, Abuja, and Port Harcourt.
Fibre cuts and vandalism continue to undermine infrastructure gains, with only a small number of perpetrators prosecuted despite thousands of incidents. On the fintech front, Airtel Money accounted for just ₦10.9 billion in revenue, reflecting slow adoption, while MTN's Fintech revenue dipped 7.2% to ₦77.17 billion despite growing its MoMo wallet user base to 5 million. The temporary suspension of airtime and data lending in Q2 affected earnings. Both firms are advancing network resilience and digital services, but uneven access and monetisation challenges persist.
The ₦2.4 trillion data windfall contrasts sharply with the reality of patchy 5G access beyond three major cities. Users are paying premium rates for a service whose reach remains heavily restricted. Network improvements are being offset by persistent vandalism and slow rural rollouts.
Editorial note: AI-assisted opinion, not established fact. Full disclaimer →
