Airtel Nigeria Revenue Surges 45% in H1 2026

Organized network server cables for efficient data management. Photo: panumas nikhomkhai/Pexels

Airtel Nigeria reported an average revenue per user (ARPU) of ₦3,771 ($2.8) in the first half of 2026, marking a 28.7% year-over-year increase from ₦2,969 ($2.2) in H1 2025. The company’s total revenue for the half-year ended September 2026 rose 45% to ₦1.37 trillion ($1.014 billion), up from ₦941.2 billion ($699 million) in the same period last year, according to a filing with the Nigerian Stock Exchange.

Data and Voice Revenue Surge

Data revenue grew 52.7% to ₦732.6 billion ($544 million), compared to ₦480.7 billion ($357 million) in H1 2025, driven by increased smartphone adoption and higher data consumption. Voice revenue climbed 37.8% to ₦498.24 billion ($370 million) in the same period. Underlying EBITDA increased 50.2% to ₦793.15 billion ($589 million), with margins expanding to 58.1%.

The company’s total customer base reached 61.7 million by September 2026, a 15.1% increase from 53.6 million in the previous period. Internet subscribers grew to 32.9 million from 29.5 million, reflecting broader digital engagement across its network. Data customers within the group expanded 15% to 89.9 million, contributing to the overall customer base of 193.9 million by September 2026.

Mobile Money Challenges and Growth

Airtel Nigeria’s mobile money division faced competitive pressure but still achieved a 176.4% revenue surge to $10 million from ₦5.39 billion ($4 million) in H1 2025, bolstered by its recent IPO and market penetration efforts. The mobile money customer base stood at 4.2 million, significantly lower than its 44.1 million in East Africa and 12.6 million in Francophone Africa. For the broader Airtel Africa group, mobile money profit after tax rose to ₦307 billion ($228 million) in H1 2026, with total revenue reaching $830 million, up 34% YoY. The group’s mobile money customer base expanded to 56.7 million, while approximately 75 million Airtel subscribers remained untapped for this service.

Group Performance and Capital Investment

Overall group profit after tax increased 20.5% to $452 million from $376 million in H1 2025, while operating profit jumped 34.2% to $1.286 billion. Total group revenue rose 28.2% to $3.823 billion, with EBITDA growing 32.8% to $1.921 billion and margins improving to 50.3%. The group’s capital expenditure reached ₦884.8 billion ($657 million) during H1 2026, adding 4,200 new sites to its infrastructure network.