MTN Nigeria finally out of the red, posts first profit in two years

• MTN Nigeria encountered large FX problems successful 2023, resulting successful billions of naira successful losses and causing worries for investors
• The losses continued successful 2024, pressured by rising vigor costs, and led to adjacent much losses
• Finally, successful 2025, MTN Nigeria has posted a nett for the archetypal clip successful 2 years, acknowledgment to respective strategical adjustments

Legit.ng writer Ruth Okwumbu-Imafidon has implicit a decennary of acquisition successful business reporting crossed integer and mainstream media.

It is simply a immense alleviation for investors arsenic TN Nigeria has yet returned to profitability.after 2 consecutive years of posting losses.

The telecommunication elephantine released the fiscal study for the archetypal 4th of 2025, showing that its books person returned to the black.

For the quarter, MTN Nigeria posted N133 cardinal profits, an awesome alteration compared to the N14 cardinal nonaccomplishment posted successful Q1, 2024.

The nett comes arsenic a awesome to investors that MTN is yet retired of the woods. Photo credit: MTN Group
Source: UGC

Also, the telecom institution present has 84 cardinal subscribers aft adding 3.2 cardinal caller users during the quarter, to consolidate its presumption arsenic Nigeria’s biggest telecommunications player.

MTN suffers immense FX losses owed to naira devaluation

Recall that a erstwhile Legit.ng study showed however MTN mislaid billions of naira owed to the naira devaluation and floating of the overseas speech market.

The twelvemonth 2024 was worse, with implicit N400 cardinal loss, much than treble the N137 cardinal nonaccomplishment of 2023.

In some 2023 and 2024, shareholders did not person immoderate dividends, and determination are heavy concerns that different losing twelvemonth could erode shareholders' funds.

As portion of strategies to curb the losses, MTN reduced its FX vulnerability this twelvemonth by repaying a immense chunk of its dollar-denominated loans.

MTN grows gross successful Q1, 2025

The numbers amusement that the antithetic strategies applied to trim losses person paid off. MTN Nigeria grew its gross by 40.5% to N1.05 trillion.

This is simply a combined effect of the stableness successful FX rates witnessed during the 4th and the renegotiated HIS operation lease agreements.

MTN Nigeria besides got a last go-ahead to summation tariffs during the archetypal quarter, and implemented said summation successful February 2025.

Active information users person besides accrued by 13% to 50 million, indicating a larger lawsuit basal for MTN’s information offerings. Data gross besides consolidates its presumption arsenic apical earner for MTN, with N529 cardinal successful gross to bushed dependable gross astatine N407 billion. Average information usage per idiosyncratic besides grew to astir 12.8GB contempt the summation successful tariffs.

More highlights from MTN's Q1, 2025 results

Other affirmative highlights see the beingness of affirmative escaped currency travel of ₦209.9 billion, and fintech gross increasing to N36 billion.

A fewer factors that whitethorn inactive beryllium of interest to shareholders is the diminution of progressive mobile money (MoMo PSB) wallets to 2.1 million, and antagonistic shareholder money of ₦324.6 billion, which whitethorn hold a declaration of dividends.

But the institution is good connected its mode backmost up.

MTN Nigeria harmless arsenic cyber onslaught hits MTN Group

Legit.ng reported that MTN Nigeria was 1 of the fewer unaffected groups erstwhile a cyberattack deed the MTN radical recently.

The radical sent a connection to subscribers successful the affected countries urging them to instrumentality steps to unafraid their data.

Nigerian subscribers were told to stay calm arsenic the cyber onslaught did not impact immoderate of its systems.

Analysts foretell profitability for MTN successful 2025

In related news, manufacture experts and analysts predicted that 2025 would beryllium the year MTN would interruption even aft each the losses.

Legit.ng reported that their prediction was hinged connected respective factors, peculiarly the indebtedness restructuring and renegotiation of operation lease agreements.

The tariff hike besides played a role, being the archetypal hike successful tariffs aft much than a decade.

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Source: Legit.ng