Introduction

MTN Nigeria has reported a dramatic increase in cash income tax payments for the first nine months of 2026, with the total reaching N295.4 billion - a rise of over 1,200% compared with the same period last year. The jump reflects the company's improved profitability and expanded operations amid a stronger macroeconomic environment.

What Happened

According to the company's unaudited cash flow statement, MTN Nigeria paid N295.4 billion in income tax between January and September 2026, up from N21.5 billion in the same nine-month period of 2025. The figure marks an increase of approximately 1,271% and follows a significant rebound in the company's core financial performance.

Why This Matters

The surge in actual tax payments contrasts with the income tax expense recognised on the profit and loss statement, which rose 67.6% to N630.5 billion from N376.3 billion. This difference highlights the gap between accounting charges and cash outflows, a common feature in large corporate balance sheets. For MTN Nigeria, the increase signals a stronger fiscal contribution as its underlying business momentum builds.

Key Takeaways

  • Cash income tax payments climbed 1,271% to N295.4 billion year-on-year
  • Pre-tax profit rose 59.4% to N1.80 trillion, supported by 23.6% revenue growth to N4.61 trillion
  • Operating profit increased 38.2% to N1.99 trillion, and EBITDA expanded 36.8% to N2.62 trillion
  • Net cash generated from operating activities strengthened to N2.31 trillion from N1.56 trillion
  • The effective tax rate adjusted to approximately 35.1% of profit before tax, up from 33.4% previously
  • MTN Nigeria's shares gained 3.03% to close at N850 on the Nigerian Exchange, reflecting positive investor sentiment

Conclusion

MTN Nigeria's sharp rise in cash tax payments underscores how robust profit growth is translating into higher government revenue. With operating metrics across revenue, profit, and cash flow all trending upward, the company is positioned for continued momentum, though the distinction between accounting expense and actual payment remains a key consideration for stakeholders.