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 take care of their previous-year earnings.
An evaluation of the most recent monetary statements of 9 chosen NGX-listed companies exhibits that Omatek Ventures recorded the very 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, info expertise infrastructure, web companies and associated expertise companies. It compares their reported revenue growth with the corresponding durations of 2025, utilizing the most recent accessible monetary statements as of November 8, 2026.
The reporting durations will not be 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 in the course of the interval.
The firm’s working efficiency got here underneath additional strain 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 acquire on disposal of property helped raise 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% increase 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 price 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 prices declined by 36.3% to N494.69 million from N776.67 million, the rise in price 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 vital strain on its margins and earnings.
7: Briclinks Africa – Revenue rises 11.5%
Briclinks Africa Plc recorded an 11.5% improve 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 embrace 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% improve 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 outcome, revenue after tax elevated by 56.1% to N781.45 million from N500.71 million. The firm recorded finance revenue of N784.51 million in the course of 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% increase 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 knowledge enterprise, with knowledge revenue growing 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 energetic knowledge customers elevated by 12% to 57.2 million, whereas common month-to-month knowledge utilization per energetic person 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% increase 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 cell companies enterprise generated revenue of $3.14 billion, up from $2.50 billion, whereas cell 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 cell 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 improve.
3: CWG – Revenue will increase 29.1%
CWG Plc recorded a 29.1% improve 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 expertise enterprise segments, together with IT infrastructure, managed and help companies, software program and platform operations.
Revenue from IT infrastructure elevated to N21.74 billion from N11.38 billion, whereas managed and help 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 enlargement didn’t translate into greater earnings in the course of the interval.
2: NCR Nigeria – Revenue grows 29.3%
NCR Nigeria Plc recorded a 29.3% improve 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 expertise 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 section 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 circulation turned destructive at N118.25 million, in contrast with a constructive 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 very best revenue growth among the many 9 companies, with revenue growing 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 way of its subsidiaries.
Cost of gross sales stood at N300,000, in contrast with no price 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.
