MTN Nigeria Records Sizable Profits in First Half of Year, reporting ₦414 Billion in Revenue
MTN Nigeria, a key player in Nigeria's digital and financial inclusion agenda, has reported impressive results for the first half of 2025. The telecommunications giant has seen a significant increase in service revenue, profit after tax, and active data users, among other key indicators.
Revenue and Profit Growth
MTN Nigeria's service revenue for the period increased by 54.6% year-on-year to a staggering ₦2.4 trillion (~$1.57 billion). This growth was driven by an 85.6% rise in data revenue, 84.2% growth in fintech earnings, and a 40.3% increase in voice revenue. These figures reflect the company's successful efforts to expand its subscriber base and implement price adjustments.
The company's profit after tax also saw a substantial improvement, reaching ₦414.9 billion (~$2.57 billion) for the first half of 2025. This marks a return to profitability after previous losses, a testament to the company's cost discipline and pricing strategy.
Network Investment and Expansion
A large portion of the capital expenditure went towards expanding network capacity, rolling out fibre-to-the-home, and launching the first phase of the Dabengwa Tier III Data Centre. These investments have contributed to a 41% increase in data traffic and the addition of 3.7 million new smartphones to MTN Nigeria's network.
Digital Innovation and Startup Support
In line with its commitment to digital growth, MTN Nigeria launched an accelerator program, committing ₦100 million in grants and technical support to African startups. This initiative aims to foster cloud-powered innovation and build Africa’s future tech ecosystem.
Financial Guidance
CEO Karl Toriola has revised the company's FY 2025 targets, aiming for at least low-50% service revenue growth and EBITDA margin. For the medium-term, starting from 2026, the company aims for at least low-20% service revenue growth and an EBITDA margin between 53-55% under current economic assumptions without price adjustments.
Focus on Customer Value Management and Pricing
Toriola highlighted proactive initiatives that helped maintain the voice segment momentum despite industry-wide SIM registration restrictions and contributed to sustainable growth.
Improved Profitability and Outlook
The ratings agency GCR has upgraded MTN Nigeria's outlook to 'Stable', reflecting the company's improved profitability and financial position. MTN Nigeria has also raised its 2025 guidance, expecting service revenue and EBITDA margin to grow by at least 50%.
MTN Nigeria's strategic priorities under CEO Karl Toriola focus on accelerating digital growth through expanded 4G coverage, fintech services, and enhanced network investments. The company aims to sustain strong growth and create long-term stakeholder value by leveraging digital transformation, network quality, and fintech expansion.
One of the key initiatives is the launch of MTN Cloud, tied to the new data centre, which is being positioned as a launchpad for Africa's next wave of tech startups. With these strategic moves, MTN Nigeria is set to continue its growth trajectory in the second half of 2025 and beyond.
- MTN Nigeria's fintech earnings increased by 84.2%, a significant part of the 54.6% year-on-year growth in service revenue.
- The telecoms company, MTN Nigeria, has launched an accelerator program offering ₦100 million in grants and technical support to African startups.
- The mobile network operator, MTN Nigeria, aims for at least low-50% service revenue growth and EBITDA margin for FY 2025, as revised by CEO Karl Toriola.
- The ratings agency GCR upgraded MTN Nigeria's outlook to 'Stable', acknowledging the company's improved profitability and financial position, and its expectation of service revenue and EBITDA margin growing by at least 50%.
