By 
By Osasómé C.O
Record Profit Marks Major Turnaround
MTN Nigeria Communications Plc has posted a remarkable ₦750.185 billion profit after tax in the third quarter of 2025. It is a sharp rebound from the ₦514.9 billion loss recorded in the same period last year. This represents an impressive 245% year-on-year growth, underlining the company’s financial recovery and operational strength.
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Following this performance, MTN Nigeria’s Board of Directors declared an interim dividend of ₦5 per 2 kobo ordinary share. It is great news as the company is rewarding shareholders after a long break in profit distribution.
Revenue Growth Driven by Data and Digital Services
According to MTN Nigeria’s 9-month financial report, total revenue grew 57.4% year-on-year to ₦3.731 trillion from ₦2.370 trillion in 2024.
A major driver of this growth was data revenue, which surged by 73.2% to ₦1.977 trillion. This service was powered by increased usage, a growing user base, and network expansion.
MTN reported that data traffic rose by 36.3%, while average usage per subscriber increased by 20.8% to reach 13.2GB per month. The company attributed this to ongoing customer value management initiatives and higher smartphone penetration (65.1%)., It also ties growth to continued investment in 4G and 5G network capacity.
Voice, Digital, and Fintech Businesses on the Rise
MTN’s voice revenue rose 41.9% to ₦1.347 trillion, sustained by an expanding subscriber base and customer-centric pricing strategies.
Revenue from digital services also grew 41.9% to ₦71.193 billion, supported by strong demand for media content and improved user engagement.
Meanwhile, fintech revenue soared 72.5% to ₦131.616 billion, driven by growth in MoMo (mobile money) services, advanced payment solutions, and a surge in customer deposits (up 80.5%). MTN reported 2.9 million active wallets as of September 2025, following a revamp of its customer acquisition strategy.
Expanding Broadband and Infrastructure Footprint
The telecom giant’s home broadband business gained strong traction, adding 281,000 new subscribers in Q3, expanding its total base to 4 million.
MTN accelerated fibre deployments to support its Fibre-to-the-Home (FTTH) network, reduce mobile congestion, and deliver ultra-fast broadband to more households.
These initiatives, the company said, reinforce its commitment to bridging Nigeria’s digital divide and enhancing long-term digital inclusion.
Market Leadership and Subscriber Growth
As of August 2025, data from the Nigerian Communications Commission (NCC) shows MTN retains its dominance with 89.6 million subscribers, commanding 52.3% market share — far ahead of Airtel Nigeria (33.9%), Globacom (12.2%), and 9mobile (1.6%).
This market leadership is supported by MTN’s extensive network coverage, especially in rural areas, and consistent investment in network expansion and innovation.
Financial Efficiency and Capital Allocation
Despite higher operational costs (up 20.2% YoY to ₦1.814 trillion), MTN recorded ₦1.918 trillion in EBITDA, representing a 123% year-on-year increase.
Net foreign exchange gains surged 106.1% YoY to ₦55.579 billion, contributing to the robust bottom line.
Capital expenditure declined by 8.7%, mainly due to lease adjustments, though core investments in capacity, site rollout, and data centre development continued. The company maintained positive free cash flow of ₦742.6 billion, showing disciplined financial management and sustainability.
Transitioning to a Tech Company
MTN Nigeria is undergoing a strategic transformation from a traditional telecom operator to a Technology Company (TechCo) under its Ambition 2025 Strategy.
This evolution is anchored on investments in infrastructure, fintech, cloud services, and enterprise technology solutions.
Key transformation highlights include:
- Dabengwa Data Centre launch, supporting cloud and digital infrastructure.
- Expansion of fintech and media platforms like MoMo and Ayoba.
- Development of software-driven services in cybersecurity, enterprise tech, and digital marketing.
- Support for startups through the MTN Cloud Accelerator Program, empowering Nigeria’s tech ecosystem.
Sustaining Growth in a Dynamic Digital Economy
MTN Nigeria’s management reaffirmed its commitment to building a digital-first ecosystem, positioning the company as a key enabler of Nigeria’s digital transformation agenda.
The telecom leader aims to balance profitability, innovation, and social impact, ensuring that its continued investments in broadband, fintech, and digital services foster inclusive economic growth.
