MTN Nigeria's tax payment jumps 1,271% to N295.4bn as profit surges 59.4%
MTN Nigeria paid N295.4 billion in income tax during the nine months ended September 30, 2026—a 1,271% increase from N21.5 billion in the same 2025 period. The company's pre-tax profit rose 59.4% to N1.80 trillion from N1.13 trillion, while revenue grew 23.6% to N4.61 trillion.
The tax expense recognized in MTN's income statement increased 67.6% to N630.5 billion from N376.3 billion, pushing the effective tax rate to approximately 35.1% of profit before tax, up from 33.4% a year earlier. The N295.4 billion paid in cash during the period was lower than the N630.5 billion tax charge, reflecting the distinction between actual payments and earnings-recognized charges.
MTN Nigeria's shares rose 3.03% to close at N850 on the Nigerian Exchange on Friday, October 30, 2026, gaining N25 from the previous N825 close. The stock traded between N844 and N850 with 1.22 million shares exchanged.
For investors and stakeholders, the results show significantly improved profitability and MTN's continued contribution to Nigeria's fiscal revenue. With the effective tax rate rising to 35.1%, the company is paying a larger share of earnings to taxation. The stock gain suggests market approval of the performance.
Given the 59.4% profit growth and 23.6% revenue increase, will you adjust your investment perspective on MTN Nigeria, or does the stock remain fairly valued at N850 given the 52-week high of N915 and low of N429.30?