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MTN Nigeria Records Strong Profit Recovery in 2025
MTN Nigeria Communications Plc has reported a profit after tax of ₦1.11 trillion for the full year ended 2025, marking a dramatic turnaround from the ₦400.44 billion loss recorded in 2024.
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Details from the company’s audited 2025 earnings release, filed with the Nigerian Exchange Ltd., showed a profit before tax of ₦1.70 trillion, compared to a loss of ₦550.33 billion in the previous year.
FX Gains and Revenue Growth Drive Performance
MTN Nigeria’s return to profitability was supported by a net foreign exchange gain of ₦90.27 billion, a sharp contrast to the ₦925.36 billion FX loss recorded in 2024.
Total revenue surged by 54.9 per cent to ₦5.20 trillion, up from ₦3.36 trillion in 2024, while service revenue grew by 55.1 per cent to ₦5.17 trillion.
Data, Voice and Fintech Revenues Surge
Growth was broad-based across MTN Nigeria’s core business segments:
- Data revenue rose by 74.5 per cent to ₦2.78 trillion
- Voice revenue increased by 42.1 per cent to ₦1.85 trillion
- Fintech revenue jumped by 79.7 per cent to ₦191.27 billion, reflecting expanding digital financial services
- Digital revenue grew by 36 per cent to ₦99.43 billion
However, other service revenue declined by 3.6 per cent to ₦249.67 billion.
EBITDA Doubles as Margins Improve
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose sharply by 108.9 per cent to ₦2.74 trillion, compared with ₦1.31 trillion in 2024. EBITDA margin improved significantly to 52.7 per cent, up from 39.1 per cent a year earlier.
Total expenses increased by 20.2 per cent to ₦2.46 trillion, reflecting higher operational activity and network investments.
Strong Q4 Performance and Cash Flow Growth
In the fourth quarter of 2025, MTN Nigeria posted revenue of ₦1.47 trillion, representing a 48.9 per cent increase over ₦988.22 billion in Q4 2024.
- Capital expenditure rose by 4.2 per cent to ₦1.60 trillion
- Free cash flow surged by 215.5 per cent to ₦1.22 trillion
Subscriber Base Continues to Expand
Operationally, the company recorded strong customer growth:
- Mobile subscribers increased by 7.9 per cent to 87.3 million
- Data subscribers rose by 11.6 per cent to 53.2 million
CEO Highlights Turning Point in 2025
Commenting on the results, Chief Executive Officer Karl Toriola described 2025 as a watershed year for the company.
“2025 marked a significant turning point in our business performance and resumption of dividend payments. We returned to profitability, generated stronger free cash flow and restored positive retained earnings and shareholders’ funds,” he said.
Toriola attributed the performance to disciplined capital allocation, reduced foreign currency exposure, operational efficiency, and a supportive macroeconomic environment. He added that MTN Nigeria is well positioned to consolidate gains and sustain growth across its connectivity and platform businesses.
MTN Nigeria Declares ₦15 Final Dividend
In a major boost for investors, MTN Nigeria announced a final dividend of ₦15 per ordinary share for the 2025 financial year, ending a prolonged dividend holiday.
The telecom operator had earlier declared an interim dividend of ₦5 per share in the second half of 2025, bringing total dividend payout for the year to ₦15 per share.
According to the company, shareholders whose names appear in the Register of Members as at 8 April 2026 will qualify for the dividend, which will be paid on or around 5 May 2026 via electronic transfer, subject to applicable withholding tax.
Outlook: Sustained Growth and Shareholder Returns
Looking ahead, MTN Nigeria said it remains encouraged by its business trajectory. It cited favourable macroeconomic conditions, strong network leadership, and disciplined execution as key drivers of sustainable growth.
The company reaffirmed its commitment to profitable expansion, balance sheet strengthening, and consistent shareholder returns in the years ahead.
