MTN Nigeria has reported an impressive financial recovery in the first half of 2025, driven by optimized foreign exchange losses and revenue growth.
MTN Nigeria Financial Performance
MTN Nigeria announced a net income of N414.9 billion, representing a 180% increase compared to a net loss of N519.1 billion in H1 2024. This turnaround was made possible by a drastic reduction in foreign exchange losses, which fell from N887.7 billion in H1 2024 to just N5.2 billion in H1 2025. Additionally, the company's revenue reached N2.38 trillion, a 54% year-on-year increase from N1.54 trillion in the same period in 2024.
Role of CBN Economic Policy
The Central Bank of Nigeria (CBN)'s policies have played a crucial role in stabilizing the telecom sector. The naira's volatility, exacerbated by devaluations in 2023 and 2024, had previously inflicted heavy losses on telecom operators. However, CBN's efforts to stabilize the foreign exchange market in 2025, including easing capital restrictions and increasing dollar liquidity, significantly reduced these losses.
Subscriber Growth and Infrastructure Investment
MTN Nigeria added 3.2 million subscribers in Q1 2025, bringing the total to 84.1 million. Meanwhile, Airtel also experienced subscriber growth. Both companies have heavily invested in infrastructure, with MTN's capital expenditure rising 159% to N202.4 billion. These investments align with Nigeria’s National Broadband Plan (2020-2025), aiming for 70% broadband penetration by 2025.
The financial success of MTN Nigeria and the growing performance of Airtel underscore the resilience of the telecom sector. Balancing profitability with service affordability remains important in Nigeria's challenging economic climate.
