Digital solution provider, Globacom has recorded the highest Internet subscriber growth among Nigeria’s major telecom companies for the month of May.

Data from the Nigerian Communications Commission, NCC, Nigeria’s total Internet users increased to 157 million in May, up from 154.3 million in April. That is a growth of 2.67 million users in one month.

Globacom led the market by adding about 1.2 million new Internet subscribers. This means Glo was responsible for almost half of all new Internet users in May.

The company’s subscriber base grew from 15.5 million in April to 16.8 million in May. Airtel came second with 1.07 million new users, moving from 54.8 million to 55.8 million. MTN added 382,894 users to reach 83.5 million.

T2 Mobile, formerly 9mobile, recorded no growth for the second month in a row. Its subscriber base remained at 802,534. This is despite its roaming agreement with MTN, which was approved almost a year ago to help T2 customers use MTN’s network in areas with poor coverage.

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Industry experts say Glo’s strong growth is due to its ongoing network upgrade. Since last year, the company has been building new base stations, expanding its fibre network, and adding thousands of new 4G sites across cities and rural areas.

The upgrades have improved voice and data quality for customers, while Globacom remain committed to providing better network experience and affordable Internet services to more Nigerians.

MTN Nigeria’s half-year 2026 performance reflects more than revenue growth, highlighting the wider economic activity generated through tax payments, infrastructure investment and shareholder returns.

Kadri, MTN CFO

Beyond its financial results, the telecommunications operator said it continues to channel substantial resources into expanding network infrastructure, meeting statutory obligations and delivering value across its stakeholder ecosystem.

The company disclosed that it paid more than ₦600 billion in taxes, customs duties, regulatory levies and other statutory obligations over the past year.

It also invested over ₦1.6 trillion in capital expenditure since January 2025 to expand network capacity and improve service quality, while declaring an interim dividend of ₦26 per share for shareholders.

Speaking on Arise News’ Global Business Report, MTN Nigeria’s Chief Financial Officer, Modupe Kadri, explained that the company’s earnings are shared across several stakeholders before returns reach investors. “For every one naira of revenue, about 24 kobo becomes profit.

“The government receives over ₦600 billion through taxes and levies, operating costs account for a significant portion of our revenue, and every participant within the ecosystem benefits from the value we create,” he said.

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According to the Nigerian Communications Commission (NCC), telecommunications remains one of the largest contributors to Nigeria’s Gross Domestic Product, supporting digital financial services, education, healthcare, commerce and public services. Continued investment by operators has also been identified as critical to expanding broadband access and improving digital inclusion across the country.

Kadri noted that shareholder returns remain an important part of MTN’s capital allocation strategy, but stressed that they represent only one aspect of the company’s broader economic contribution.

“Even when we declare dividends, the government still receives withholding tax, while we continue investing heavily in our network because sustaining quality service requires ongoing capital commitment,” he said.

MTN Group has moved a step closer to taking full ownership of telecommunications tower operator IHS Towers, after shareholders of the infrastructure company approved the proposed acquisition at an extraordinary general meeting (EGM).

The telecommunications group announced that IHS shareholders voted in favour of the transaction by the required two-thirds majority at the EGM held on 4 August, satisfying one of the key conditions precedent to the deal.

MTN first announced in February that it had entered into an agreement to acquire the remaining shares in IHS, a move that would give the mobile operator full ownership of one of Africa’s largest independent tower companies.

The acquisition forms part of MTN’s Ambition 2030 strategy, which aims to strengthen the group’s digital infrastructure capabilities and diversify revenue streams as demand for connectivity, cloud services and artificial intelligence (AI) continues to grow across the continent.

“The approval by IHS shareholders is an important step toward completion of the transaction,” says Ralph Mupita, MTN Group president and CEO.

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“Within our Ambition 2030, the three-platform strategy, towers are a critical value-creation driver that will strengthen MTN’s strategic and financial position for the future, in a world where digital infrastructure and AI are becoming increasingly essential to Africa’s growth and development.”

Tower infrastructure has become increasingly strategic for mobile network operators as demand for high-speed mobile broadband, cloud computing and AI-powered services drives the need for expanded and more efficient network capacity.

The proposed acquisition is expected to strengthen MTN’s position as it continues expanding its digital ecosystem across Africa, where it serves more than 300 million subscribers.

IHS is one of the world’s largest tower companies, with nearly 29 000 towers in Africa serving various mobile network operators in five key MTN markets.

According to the mobile operator, the proposed transaction, which follows discussions noted in February, marks an important step to unlock compelling value for MTN, and strengthen and reintegrate its ownership of critical digital infrastructure across Africa.

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For IHS shareholders, MTN notes, it provides an attractive opportunity to crystalise value.

The funding for the proposed transaction of the remaining shares MTN does not already own, for a consideration of $2.2 billion (R35 billion), will be through cash of approximately $1.1 billion on IHS’s balance sheet, along with available liquidity and debt from MTN.

MTN has approximately 24.7% shareholding in IHS, and as part of the transaction, it intends to take the company private through the acquisition of all outstanding shares it does not own, pursuant to a cash merger.

By reintegrating the tower assets, MTN says it will be able to internalise the margin currently paid to IHS, benefit from current and future incremental third-party revenues, improve cost predictability and unlock significant long-term value embedded in its existing investment.

The transaction remains subject to the receipt of the necessary regulatory approvals, which MTN says are still in progress. No timeline has been provided for the completion of the acquisition.

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