MTN Nigeria Reports ₦5.2tn Revenue as Telecom Demand Rises

MTN Nigeria Communications Plc reported ₦5.20 trillion in revenue for the year ending December 31, 2025. This is a significant financial comeback, marking the highest annual revenue recorded by the telecom company in Nigeria’s competitive market.

The information, released in the company’s audited financial results on February 26, 2026, shows a 55.1% increase from ₦3.36 trillion in 2024. Industry analysts have called this performance “remarkable.”

A Turning Point After Tough Years

The breakthrough follows a difficult period for MTN Nigeria. The company reported a loss after tax of ₦400.4 billion just a year ago due to foreign exchange pressures and reduced spending.

The 2025 results flipped these setbacks. It showed a profit after tax of ₦1.11 trillion, in contrast to the loss recorded in the previous year.

According to reports, CEO Karl Toriola celebrated the performance as a “significant turning point” for the business. He noted that during this time, the company returned to profitability and improved retained earnings and shareholders’ funds.

He emphasized the disciplined execution and better macroeconomic conditions.

Drivers of Growth: Data, Voice, and Fintech

MTN Nigeria’s financial surge mainly came from data services, which now make up the largest part of service revenue. Data revenue jumped by 74.5% to ₦2.78 trillion. This shows Nigerians’ strong demand for internet access.

Voice services remained steady, increasing by 42.1% to ₦1.85 trillion. However, the fintech sector grew nearly 80%, driven by more mobile money use and digital payments.

The subscriber base also grew. MTN Nigeria’s active mobile users rose 7.9% to 87.3 million, and active data users climbed 11.6% to 53.2 million by the end of the year.

Improved Financial Position and Investor Returns

In addition to revenue growth, MTN Nigeria’s balance sheet showed strong improvement. EBITDA more than doubled to ₦2.7 trillion, expanding the margin to 52.7%. Free cash flow surged 215.5% to ₦1.2 trillion.

Retained earnings moved into positive territory at ₦400.4 billion, and shareholders’ equity amounted to ₦548.7 billion.

Reflecting this recovery, the board has proposed a final dividend of ₦15 per share. This brings the total payout for the year to ₦20 per share. It is a welcome return for investors after dividend suspensions in previous years.

Broader Industry Impact

MTN’s success is not just a milestone for the company; it also highlights Nigeria’s changing telecommunications landscape. The company’s performance has contributed to wider industry momentum. This is based on combined revenues from Nigeria’s two largest telecom operators, MTN and Airtel Nigeria, totaling about ₦6.78 trillion.

Changes in regulations and the economy, such as increased data tariffs and more stable foreign exchange conditions in 2025, played a key role in driving this growth.

Analysts point out that these factors, along with ongoing demand for digital services, have shifted telecoms to be a major contributor to non-oil economic activity.

The Road Ahead

As MTN Nigeria prepares for 2026, management expresses confidence in maintaining strong performance. The company plans to strengthen its leadership in data and digital services while enhancing financial stability.

With solid subscriber growth and renewed investor confidence, MTN’s 2025 results could set a standard for future successes in Nigeria’s telecommunications sector.