Airtel Nigeria drives Africa growth as revenue surges 50% to $498m in Q1

Airtel Nigeria has emerged as the biggest growth engine for Airtel Africa in the first quarter of its 2027 financial year, delivering a 50 percent increase in reported revenue to $498 million, as stronger customer growth, higher data consumption and improved exchange rate conditions boosted the telecom operator’s performance.

According to Airtel Africa’s financial results for the quarter ended June 30, 2026, Nigeria generated the largest revenue contribution across the group’s 14 African markets which reinforces its strategic importance despite operating in one of the continent’s most competitive telecom markets.

On a constant currency basis, which excludes the effects of foreign exchange movements, revenue from Nigeria grew 29.4 percent year-on-year.

However, the appreciation of the naira against the U.S. dollar lifted reported revenue growth to 50 percent, reflecting a favourable currency environment compared with the same period last year.

The Nigerian business posted earnings before interest, tax, depreciation and amortisation (EBITDA) of $292 million, up 58.2 percent from $185 million a year earlier, while EBITDA margin expanded to 58.8 percent from 55.7 percent, indicating improved operational efficiency and profitability.

Operating profit also climbed 70.9 percent to $188 million.

Data services has continued to power Airtel Nigeria’s expansion, with data revenue rising nearly 60 percent in reported currency to $263 million, while voice revenue increased 42.6 percent to $191 million.

In constant currency terms, data revenue grew 38 percent, supported by rising smartphone adoption, higher customer usage and increased spending on mobile internet services.

The operator’s customer base expanded 12 percent to 60.1 million subscribers, while active data users increased 11 percent to 32.5 million.

Average revenue per user (ARPU) rose 35 percent in reported currency to $2.80, reflecting both tariff adjustments implemented last year and stronger customer spending.

Airtel Africa said the Nigerian business benefited from the full impact of tariff adjustments introduced in the final quarter of the previous financial year, alongside continued growth in smartphone penetration and digital adoption.

These factors helped offset inflationary pressures and supported sustained investment in network expansion.

The strong Nigerian performance contributed significantly to Airtel Africa’s group-wide results. Across its African operations, the telecom company reported a 31 percent increase in revenue to $1.85 billion, while EBITDA rose 36.6 percent to $928 million.

Total customers grew 11.6 percent to 189 million, and data subscribers increased 15.5 percent to 87.3 million as demand for digital connectivity accelerated across the continent.

Data traffic across Airtel Africa’s network surged 56.3 percent during the quarter, driven by higher smartphone penetration, which reached 51 percent.

Airtel Money continued its rapid expansion, with annualised transaction value exceeding $245 billion, supported by a 23.3 percent increase in mobile money customers to 56.5 million.