MTN Nigeria paid 295.4 billion naira (about US$220 million) in income tax and a development levy during the first nine months of 2026, against 21.5 billion naira (about US$16 million) a year earlier. The company, the Nigerian arm of South Africa’s MTN Group, reported the figures in results that its board approved on Thursday 29 October 2026.
That is about 14 times last year’s cash payment, yet the company’s unpaid tax bill has still doubled. For US investors with exposure to African telecoms, the filing shows how much profit is set aside for the tax authorities and how little of it has been paid so far.
What the Filing Shows
These figures come from the company’s unaudited statements, which have not been audited by outside auditors. Amounts marked N are in naira, Nigeria’s currency, converted at about 1,345 per US dollar, the market rate in the week to 6 November 2026.
MTN Nigeria’s tax payable, the tax it owes but has not yet paid, stood at N710.3 billion (about US$528 million) on 30 September 2026. That was about double the N355.2 billion (about US$264 million) at 31 December 2025.
The tax provision for the period was N675.8 billion (about US$502 million), made up of N581.9 billion (about US$433 million) in company income tax and N93.9 billion (about US$70 million) in a development levy. Cash paid was N295.4 billion (about US$220 million), or about 44% of that provision.
The income statement shows a tax expense of N630.5 billion (about US$469 million), up 67.6% from N376.3 billion (about US$280 million). It is lower than the provision because the expense is partly offset by a deferred tax credit, which arises from timing differences between accounting and tax rules.
Profit before tax rose 59.4% to N1.80 trillion (about US$1.34 billion), and profit after tax rose 55.3% to N1.17 trillion (about US$866 million). Revenue grew 23.6% to N4.61 trillion (about US$3.43 billion).
Earnings before interest, tax, depreciation and amortisation, known as EBITDA, was N2.62 trillion (about US$1.95 billion). The company is listed on the Nigerian Exchange, the country’s main stock market.
File photo. Central Lagos seen from above, September 2018. Photo: Subomi07, CC BY-SA 4.0, Wikimedia Commons.Why Cash Paid and Tax Owed Differ
The income statement records the tax a company owes for the period, while the cash-flow statement shows what it actually paid. The balance sheet carries the difference as tax payable, which grows when a company owes more than it pays.
A year earlier the gap was far wider, with N21.5 billion (about US$16 million) paid against a charge of N376.3 billion (about US$280 million). The filing does not say why payments were so low then or why they rose, so this article offers no explanation.
Why It Matters for You
For an investor, the key line is the unpaid balance, because N710.3 billion (about US$528 million) is a claim on future cash alongside dividends and network spending. Profit after tax still grew 55.3% despite the larger charge.
Telecoms are also a visible taxpayer in Nigeria, one of Africa’s biggest economies, and a payment of about US$220 million is a measurable contribution. Readers can set it beside our earlier coverage of MTN Nigeria’s data business and MTN Ghana’s results.
If payments stay at this pace, the unpaid balance would keep growing. If the company catches up, cash tax will rise further.
What Is Not Known
The filing does not say when the N710.3 billion (about US$528 million) payable falls due, or why cash payments were low in 2025. It also does not say whether the 2026 cash payment includes any one-off settlement.
The full-year accounts should show more of the picture. Until then, the nine-month cash figure is a fact and its cause remains open.
More: Nigeria news in English, every day from The Rio Times.
Frequently Asked Questions
How much tax did MTN Nigeria pay in cash?
It paid N295.4 billion (about US$220 million) in tax in the first nine months of 2026, up from N21.5 billion (about US$16 million) a year earlier.
How much tax does MTN Nigeria still owe?
Its tax payable stood at N710.3 billion (about US$528 million) on 30 September 2026, about double the N355.2 billion (about US$264 million) at the end of 2025.
What is the difference between tax expense and tax paid?
Tax expense is what the company books as owed for the period. Tax paid is the cash that actually went to the authorities.
Sources: MTN Nigeria Communications Plc, unaudited condensed consolidated and separate financial statements for the nine months ended 30 September 2026 (approved 29 October 2026), published at mtn.ng/investors.
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