Economy in Recovery: Tinubu’s Reforms Propel MTN, Dangote, BUA, Transcorp, Seplat, Others’ H1 Revenues to N14.4trn, N4.99trn Profits
*Zacch Adedeji: Fuel subsidy will be costing N53 trillion, exchange rate N3,500/$ without Tinubu’s reforms *Tax collections hit N27.1trn in 8 months as tax-to-GDP rises to 13% *Says petrol burden
President Bola Tinubu's economic reforms have propelled Nigeria's major companies to record-breaking first-half revenues and profits. A combined N14.4 trillion in revenue and N4.99 trillion in profit before tax (PBT) were generated by the top ten quoted firms in the first half of 2026, up from N10.59 trillion and N2.99 trillion in the corresponding period of 2025.
The growth is attributed to a more stable macroeconomic environment, improved market efficiency, stronger investor confidence and the removal of petrol subsidies. MTN Nigeria Communications Plc led the pack with N2.99 trillion in revenue, a 25 percent increase from the previous year, and N1.09 trillion in profit before tax, a 75.2 percent increase.
Dangote Cement Plc and Seplat Energy Plc also saw significant growth, with N981 billion and N2.5 trillion in revenue respectively, representing a 21.4 percent and 16.5 percent increase from the previous year.
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