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14 hours ago
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- MTN Nigeria says it has poured astir N202.4 billion, astir 159% of its yearly earnings, into infrastructure upgrades
- The institution said the determination was to boost work transportation and capableness pursuing the tariff hike approved by the NCC
- The telco said its subscribers besides grew by 8.2% to 84.1 million, an summation of 3.2 cardinal subscribers during the period
Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the economy for implicit a decade.
MTN Nigeria said it has invested astir N202.4 billion, representing 159% yearly, successful infrastructure upgrades and web enlargement to boost work transportation and capacity.
The institution disclosed this successful its unaudited financials for Q1 2025, saying its subscribers grew by 8.2% to 84.1 million, an summation of 3.2 cardinal subscribers during the reappraisal period.
Source: UGC
MTN Nigeria's subscribers grow
The telco disclosed that its progressive information users accrued by 13.0% to 50.3 million, an further 2.6 cardinal users.
MTN Nigeria CEO, Karl Toriola, said the institution received support to set its prices, starring to the ongoing concern successful the industry and maintaining prime service.
The MTN Nigeria brag said the improvement empowered the telco to accelerate web investments with N202.4 billion, up by 159%, focusing connected boosting capableness and improving idiosyncratic experience.
He said that contempt uncertainties, the institution returned to profitability owed to the comparative stableness of the naira during the period.
According to him, the speech complaint remained comparatively unchangeable astatine N1,537 per dollar astatine the extremity of March this year, portion ostentation stood astatine 24.2%.
Toriola said:
“We besides continued to research efficiency-enhancing opportunities done infrastructure-sharing partnerships. A cardinal milestone was the statement betwixt MTN Group and Airtel Africa to collaborate connected passive infrastructure successful Nigeria, enabling accelerated sum and driving web outgo efficiencies.”MTN Nigeria announces information subscribers growth
He disclosed that the telco’s commercialized show remained robust, supported by sustained concern successful web capacity, demand, and proactive lawsuit worth absorption initiatives.
He added that successful the archetypal quarter, the starring telco grew its subscriber basal by 3.2 million, bringing its full basal to 84.1 million.
Source: Getty Images
Also, its progressive information users accrued by 2.6 cardinal to 50.3 million, contributing to a 46.4% yearly maturation successful information traffic.
He attributed the maturation to the company’s disciplined attack to gross connections and management, and continuous innovation successful lawsuit worth propositions.
MTN Nigeria’s MoMo users decline
Toriola said the fintech strategy readjustment was precocious during the reappraisal period, with a deliberate absorption connected boosting the prime of the ecosystem.
He said that contempt experiencing a 25.7% summation successful progressive wallet users to 2.1 cardinal comparative to December past year, the steadfast onboarded much high-value customers, improved interval levels, and enhanced the wide wellness and sustainability of the ecosystem.
Experts person said that the concern successful infrastructure by the institution volition let it to support a ascendant marketplace presumption successful the months ahead.
The improvement came arsenic the institution besides disclosed that investors yet heaved a suspiration of alleviation arsenic MTN Nigeria returned to profitability aft 2 consecutive years of reporting 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 successful profits, an awesome improvement compared to the N14 cardinal nonaccomplishment posted successful Q1 2024.
Naira devaluation erodes MTN’s profit
Legit.ng earlier reported that MTN Nigeria Communications Plc has released its financial results for the 9 months ending September 30, 2024.
Profit After Tax (PAT), which was adjusted for the nett currency loss, was N118.5 billion, down 59.2%, portion the telecom concern reported a nonaccomplishment aft taxation of N514.9 billion.
Meanwhile, the devaluation of the naira was chiefly to blasted for the loss, which was N41 cardinal little than the N519.1 cardinal successful its half-year results.
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Source: Legit.ng
