MTN Nigeria Plc recorded a sharp rally on the Nigerian Exchange (NGX) on Friday, with its market capitalisation rising by about 8 per cent during intraday trading as the company’s share price climbed to its highest level in the past 52 weeks.
The telecoms giant broke through a key price barrier ahead of its expected fourth-quarter earnings release in the coming weeks. Market analysts are increasingly optimistic, with expectations of a final dividend payment and growing interest in a potential public offering pledge by the group for Nigerian shareholders.
MTN Nigeria’s share price advanced to N550, gaining N39 on each of its 20.995 billion outstanding shares listed on the local bourse. This price movement lifted the company’s market value by 7.63 per cent to N11.547 trillion, marking a new
high in 2026.
Market data show that 1.739 million MTN Nigeria shares, valued at N967.654 million, were traded on the NGX on the final trading day of the week. After a largely flat performance in recent sessions, the stock surged by 7.63 per cent to close at N550.
In a stock recommendation note, Meristem Securities Limited forecast a strong upside for the telecoms operator. “MTNN is currently trading at NGN511.00, offering an upside potential of +44.94% toward our target price of NGN740.67. The stock’s 10-day RSI of 34.54 suggests an attractive entry point”, Meristem told investors in a stock report.
MTN Nigeria is expected to continue benefiting from sustained investments in network infrastructure, expansion into rural and underserved communities, steady growth in its voice and data subscriber base, and increased adoption of technology and artificial intelligence across its operations.
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