Prime Business AfricaIn the second quarter (Q2) of 2025, MTN Nigeria generated N1.31 trillion in revenue, surpassing the N786.13 billion recorded in the same period in 2024, representing an increase of 67.88 percent.
A broader look showed that MTN recorded N2.37 trillion in the first half of 2025, overshadowing the N1.53 trillion posted in the first six months of last year.
Join our WhatsApp ChannelMTN said turnover from voice contributed N427.05 billion to the total revenue in Q2 2025, compared to the N269.53 billion it accounted for in Q2 of last year, indicating a 58.43 percent growth.
This brought the total contribution of voice turnover to N780.17 billion in the first half of the year, up from N541.28 billion in the corresponding period in 2024.
Also, over N699.95 billion data turnover was recorded by MTN in the second quarter of 2025, compared to the N377.56 billion reported in Q2 last year.
In total, MTN generated N1.22 trillion from data sales in the first six months of this year, exceeding the N726.56 billion generated during the same period in 2024.
MTN said it achieved the result due to an increase in user base and completion of the implementation of the new price adjustments, which were approved by the Nigerian Communications Commission (NCC) in January 2025.
“During the period, we completed the phased implementation of the new price adjustments across voice and data bundles, largely benefiting Q2. Pleasingly, the demand for our services remained resilient, which supported strong service revenue growth in the period,” the network provider said.
“Data revenue rose by 69.2%, supported by active user base growth, higher data traffic and price adjustments. Underpinning this growth is the ongoing investment in network capacity to accommodate increased traffic and enhance user experience, as well as higher smartphone penetration. Data traffic grew by 41.2%, while the average usage per subscriber increased by 26.3% YoY to 13.2GB.
“We added approximately 3.7 million smartphones to the network in H1, raising smartphone penetration to 62.6%, up 4.3pp from December 2024. 4G population coverage remained stable at 82.4%, as efforts continued to focus on capacity enhancement to reduce congestion in the network.
“Our home broadband segment continues to gain momentum with approximately 501k subscribers added in H1, bringing the broadband base to 3.7 million. This underscores the growing relevance of our fixed wireless and fibre solutions in addressing the rising demand for reliable, high-speed connectivity in Nigerian households.”
Operating costs rise to N347bn
The telecommunications company reported that it incurred N347.93 billion in direct networking operating costs in the second quarter of 2025, compared to the N331.99 billion incurred in Q2 2024.
Also, operating profit increased by 321.63 percent, from N130.46 billion recorded between April and June to N550.10 billion in the second quarter of this year.
However, MTN reported a decrease in finance income, which dropped by 26.19 percent year-on-year, from N9.59 billion to N7.08 billion, while finance costs increased by 63.45 percent from N84.34 billion to N137.86 billion.
But the network provider managed to exit the N231.31 billion net foreign exchange loss recorded in Q2 last year, after earning N295 million net foreign exchange gain in Q2 2025.
This enabled the company to record N419.61 billion profit before tax (PBT) in the second quarter of this year, compared to the N175.59 billion loss before tax posted in the corresponding period in 2024.
Following the return to profit, MTN paid N138.44 billion as tax income during the period under review, compared to the tax credit of N49.23 billion filed in the second quarter of the year before.
Nevertheless, MTN reported N281.17 billion as profit after tax (PAT) in the second quarter of this year, against the N126.36 billion loss recorded after tax credit in Q2 2024.
Following the recovery, MTN said the “turnaround reflects the successful delivery of the five strategic priorities outlined at the Extraordinary General Meeting (EGM) held on 30 April 2024 to address the negative shareholders’ funds”.
MTN’s return to profit improved its retained earnings and shareholders’ equity.
“Consequently, our retained earnings improved to negative N192.9 billion (December 2024: negative N607.5 billion) and shareholders’ equity to negative N42.5 billion (December 2024: negative N458.0 billion),” the telco said.
“This positive trajectory reinforces the meaningful progress towards restoring a positive net asset position by the end of Q3.”
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