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Nigerian corporate earnings surge 2026

Updated 3 times since CLSTR started tracking revisions of this situation.

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2026-07-31 21:54 UTC → 2026-08-01 08:18 UTC · added ~~removed~~

The earnings upswing across Nigeria’s corporate sector continued through late July 2026. MTN Nigeria Plc confirmed a 70.6 % year‑on‑year profit jump to ₦707.5 billion for H1 2026, with ~~total~~ revenue up 29.5 % to ₦2.99 trillion and data‑service revenue rising 38.3 % to about ₦1.699 trillion. The ~~subscriber~~ company added 4.9 million net subscribers, bringing its base ~~expanded~~ to 92.2 million, of which 55.7 million are active data ~~users,~~ users. EBITDA reached ₦1.67 trillion and free cash flow ₦712.7 billion, and the board approved an interim dividend of ₦26 per share payable on 7 September ~~2026.~~ 2026, helped by a more stable naira. BUA Foods Plc posted a 12 % profit increase to ₦292.27 billion despite a 16 % revenue decline, citing higher operating margins and expansion in wheat milling, edible oils and noodles. Other key earnings were reported: the Central Bank of Nigeria recorded a group profit after tax of ₦136.44 billion for FY 2025 and will remit ₦69.45 billion to the federal government; the Nigerian National Petroleum Company posted a ₦535 billion profit for June 2026 on revenue of ₦4.389 trillion, with modest gas‑production growth and near‑completion of major pipeline projects; and Lagos State generated ₦1.67 trillion in recurrent revenue in H1 2026, reaching 90 % of its target. These results reinforce a broader pattern of earnings resilience and growth across diverse Nigerian industries amid a challenging macro‑economic environment.

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