MTN Nigeria recorded ₦5.2 trillion in service revenue for the year ended December 31, 2025, marking a 55.1% year-on-year increase. The telecom operator returned to profitability with ₦1.1 trillion in profit after tax, driven largely by a 74.5% rise in data revenue.
The 2025 performance represents a recovery from 2024, when foreign exchange losses resulted in a ₦400.4 billion loss. Earnings per share improved to ₦53.07 from a negative ₦19.05 recorded the previous year.
The company’s board proposed a final dividend of ₦15 per share, following a ₦5 interim dividend paid in the fourth quarter of 2025. This brings the total dividend for the 2025 financial year to ₦20 per share, subject to shareholder approval.
Chief Executive Officer Karl Toriola stated that the company restored profitability, strengthened free cash flow, and improved retained earnings during the period under review.
Data services emerged as the primary growth driver. Revenue from data climbed to ₦2.78 trillion, supported by an 11.6% increase in active data subscribers to 53.2 million and a 34% expansion in data traffic. Average monthly data consumption per user rose 20% to 13.1GB, while smartphone penetration reached 66.1%.
The shift reflects increasing demand for digital services, including streaming platforms, fintech applications, and remote work tools. In response, MTN Nigeria increased capital expenditure, excluding leases, to ₦1 trillion. Investments were directed toward network upgrades, fibre-to-the-home expansion, radio capacity enhancement, and the development of a new data centre.
The company also secured a three-year spectrum lease agreement with T2 Mobile and expanded its 4G population coverage to 84.6%.
Beyond connectivity, MTN Nigeria recorded growth in its financial technology segment. Fintech revenue rose 79.7%, while active MoMo wallets increased 30.8% to 3.7 million. Customer deposits grew significantly, contributing to higher float income.
The operator commenced commercialisation of its Dabengwa Data Centre and expanded onboarding to its MTN Cloud marketplace, targeting enterprise and public sector clients seeking digital infrastructure solutions.
Macroeconomic improvements supported the company’s turnaround. The naira strengthened to ₦1,436 per dollar at year-end, compared with ₦1,535 in 2024. MTN Nigeria reported a net foreign exchange gain of ₦90.3 billion, reversing a ₦925.4 billion loss recorded in the previous year after reducing foreign currency exposure and clearing outstanding letters of credit.
With improved financial stability and strengthened operating metrics, MTN Nigeria enters 2026 with a reinforced balance sheet and renewed dividend payments.
