Technology and telecommunications companies listed on the Nigerian Exchange (NGX) recorded various revenue performances in 2026, with some reporting double-digit growth whereas others struggled to keep up their previous-year earnings.
An evaluation of the most recent monetary statements of 9 chosen NGX-listed companies reveals that Omatek Ventures recorded the best revenue growth at 650%, though the rise got here from a really low base. NCR Nigeria and CWG adopted, with growth charges of 29.3% and 29.1%, respectively.
The rating covers companies working throughout telecommunications, digital funds, data know-how infrastructure, web companies and associated know-how companies. It compares their reported revenue growth with the corresponding durations of 2025, utilizing the most recent out there monetary statements as of November 8, 2026.
The reporting durations should not equivalent. Seven companies reported for the 9 months ended September 2026, Airtel Africa reported half-year outcomes to September 2026, whereas Legend Internet’s revenue assertion covers the 12 months ended July 2026.
Airtel’s figures are additionally reported in US {dollars} and canopy its operations throughout a number of African markets, relatively than Nigeria alone.
9: Legend Internet – Revenue declines 7.4%
Legend Internet recorded the weakest revenue efficiency among the many 9 companies, with revenue falling by 7.4% to N1.10 billion for the 12 months ended July 31, 2026, from N1.19 billion in the corresponding interval.
Gross revenue additionally declined to N714 million from N761.43 million, reflecting the decrease revenue recorded throughout the interval.
The firm’s working efficiency got here beneath additional stress from administrative bills, which elevated by 88.9% to N1.06 billion from N560.18 million. This contributed to an working lack of N344.05 million earlier than different revenue.
However, a N672 million achieve on disposal of property helped elevate working revenue earlier than finance prices to N327.95 million. Finance prices rose sharply to N314.74 million from N28.58 million, leaving revenue after tax at N13.21 million, in contrast with N142.46 million a yr earlier.
8: eTranzact – Revenue grows 4.4%
eTranzact International Plc recorded a 4.4% enhance in revenue to N20.99 billion for the 9 months ended September 30, 2026, from N20.11 billion in the corresponding interval of 2025.
However, the rise in revenue didn’t translate into greater profitability, as value of gross sales rose by 13.1% to N11.55 billion from N10.21 billion. Consequently, gross revenue declined by 4.7% to N9.44 billion from N9.91 billion.
Administrative bills additionally elevated by 20.3% to N7.20 billion from N5.99 billion. Although promoting and advertising and marketing prices declined by 36.3% to N494.69 million from N776.67 million, the rise in value of gross sales and administrative bills contributed to a 44.4% decline in working revenue to N1.75 billion from N3.14 billion.
Profit after tax fell by 42.7% to N1.38 billion from N2.41 billion, displaying that the corporate’s modest revenue growth was accompanied by important stress on its margins and earnings.
7: Briclinks Africa – Revenue rises 11.5%
Briclinks Africa Plc recorded an 11.5% enhance in revenue to N451.19 million for the 9 months ended September 30, 2026, in contrast with N404.54 million in the corresponding interval of 2025.
The firm, whose principal actions embody telecommunications companies, web service provision and set up companies, additionally recorded an enchancment in gross revenue, which rose by 21.9% to N171.69 million from N140.90 million.
Profit after tax elevated by 76.9% to N54.74 million from N30.93 million in the corresponding interval, indicating stronger bottom-line growth than the rise in revenue.
6: Chams Holding – Revenue will increase 16.6%
Chams Holding Company Plc reported a 16.6% enhance in revenue to N15.69 billion for the 9 months ended September 30, 2026, from N13.45 billion a yr earlier.
Gross revenue grew by 35.4% to N4.06 billion from N2.99 billion, reflecting an enchancment in the corporate’s gross earnings regardless of greater working prices.
However, administrative bills elevated by 69.6% to N3.19 billion from N1.88 billion, contributing to a decline in working revenue, which fell by 30.8% to N881.11 million from N1.27 billion.
Despite the weaker working consequence, revenue after tax elevated by 56.1% to N781.45 million from N500.71 million. The firm recorded finance revenue of N784.51 million throughout the interval, in contrast with N18.11 million a yr earlier, offering a big increase to its backside line.
5: MTN Nigeria – Revenue grows 23.6%
MTN Nigeria Communications Plc recorded a 23.6% enhance in revenue to N4.61 trillion for the 9 months ended September 30, 2026, from N3.73 trillion in the corresponding interval of 2025.
The growth was supported by its information enterprise, with information revenue rising by 35.8% to N2.68 trillion from N1.98 trillion. Voice revenue additionally rose by 11.1% to N1.50 trillion from N1.35 trillion.
The telecom operator’s lively information customers elevated by 12% to 57.2 million, whereas common month-to-month information utilization per lively consumer rose by 16.2% to fifteen.3GB. Total subscribers grew by 10.9% to 94.7 million.
Operating revenue elevated by 38.2% to N1.99 trillion from N1.44 trillion, whereas revenue after tax rose by 55.3% to N1.17 trillion from N750.19 billion.
4: Airtel Africa – Revenue rises 28.2%
Airtel Africa Plc recorded a 28.2% enhance in reported-currency revenue to $3.82 billion for the six months ended September 30, 2026, in contrast with $2.98 billion in the corresponding interval.
Its cellular companies enterprise generated revenue of $3.14 billion, up from $2.50 billion, whereas cellular cash revenue elevated by 34.8% to $840 million from $623 million.
Data revenue additionally rose by 35.3% to $1.57 billion from $1.16 billion, reflecting continued growth in demand for cellular web companies throughout its markets.
Underlying EBITDA elevated by 32.8% to $1.92 billion from $1.45 billion, whereas revenue after tax grew by 20.5% to $452 million from $376 million.
The firm’s revenue growth was 20.8% on a constant-currency foundation, in contrast with the 28.2% reported-currency enhance.
3: CWG – Revenue will increase 29.1%
CWG Plc recorded a 29.1% enhance in revenue to N63.15 billion for the 9 months ended September 30, 2026, from N48.94 billion in the corresponding interval of 2025.
The firm’s revenue growth was pushed by contributions from its know-how enterprise segments, together with IT infrastructure, managed and assist companies, software program and platform operations.
Revenue from IT infrastructure elevated to N21.74 billion from N11.38 billion, whereas managed and assist companies generated N14.35 billion, in contrast with N13.80 billion a yr earlier.
Software revenue rose to N25.96 billion from N22.77 billion, whereas platform revenue elevated to N1.10 billion from N983.38 million.
However, the rise in revenue got here alongside greater working prices. Cost of gross sales rose by 36.9% to N50.37 billion from N36.78 billion, whereas gross revenue elevated by simply 5.2% to N12.78 billion from N12.15 billion.
Profit after tax declined by 11.9% to N4.18 billion from N4.75 billion, displaying that the corporate’s revenue growth didn’t translate into greater earnings throughout the interval.
2: NCR Nigeria – Revenue grows 29.3%
NCR Nigeria Plc recorded a 29.3% enhance in revenue to N1.94 billion for the 9 months ended September 30, 2026, from N1.50 billion in the corresponding interval of 2025.
The firm, which is concerned in the sale and servicing of data know-how options and laptop consumables, recorded a rise in gross revenue to N533.07 million from N321.90 million, representing a 65.6% growth.
Revenue from its World Customer Services phase elevated to N1.64 billion from N1.10 billion, greater than offsetting the decline in revenue from its Financial Services Group, which fell to N298.86 million from N396.81 million.
Profit after tax elevated to N473.55 million from N237.98 million, representing virtually double the earlier yr’s determine.
However, the corporate’s working money move turned adverse at N118.25 million, in contrast with a optimistic N1.21 billion in the corresponding interval, partly reflecting a big motion in commerce and different payables.
1: Omatek Ventures – Revenue jumps 650%
Omatek Ventures Plc recorded the best revenue growth among the many 9 companies, with revenue rising by 650% to roughly N1.5 million for the 9 months ended September 30, 2026, from N200,000 in the corresponding interval of 2025.
The firm operates in the pc and electronics market, with enterprise pursuits spanning computer systems, inverters and photo voltaic merchandise, alongside the manufacturing, distribution, gross sales and servicing of laptop and residential leisure merchandise by means of its subsidiaries.
Cost of gross sales stood at N300,000, in contrast with no value of gross sales reported in the corresponding interval, leaving gross revenue at N1.2 million in contrast with N200,000 a yr earlier.
However, administrative bills rose sharply by 282.8% to N48.35 million from N12.63 million. This contributed to an working lack of N47.15 million, in contrast with N12.43 million in the corresponding interval of 2025.
The firm additionally recorded a consolidated loss after tax of N47.15 million, in contrast with N12.43 million a yr earlier.
