MTN N Anchors on Data, Fintech to boost Revenue, returns to Profitability

• Data Leadership and Cost Discipline

MTN Nigeria Communications Plc recorded a strong recovery in FY 2025 as tariff adjustments, continued expansion in data usage, and improved foreign exchange conditions supported a sharp rebound in earnings.

The performance highlights the growing importance of data services within the company’s revenue mix, while easing FX pressures helped restore profitability and strengthen the balance sheet following the challenges experienced in the prior year.

Revenue Performance

Group revenue rose by 55% to N5.20 trillion from N3.34 trillion in FY 2024, driven by broad based growth across most revenue segments.

The only segment that recorded a contraction was SMS revenue, which declined by 10% as messaging services continue to face structural displacement from internet-based communication platforms.

Data Revenue

Data remained the primary growth engine for the business, expanding by 75% to N2.78 trillion from N1.59 trillion in FY 2024 and accounting for 53% of total revenue.

The significance of this segment becomes clearer when viewed over a longer horizon. Data contributed just 10% of total revenue in 2015, but its share has expanded steadily over the past decade as mobile internet adoption accelerated across Nigeria.

Growth in FY 2025 was supported by a combination of tariff adjustments implemented earlier in the year and continued expansion in digital consumption. Active data subscribers increased by 12% to 53.2 million, while smartphone penetration rose to 66%.

User behaviour also continued to shift toward heavier data consumption. Data traffic increased by 34%, while average monthly usage per subscriber rose by 20% to 13.1GB.

This reflects the growing role of mobile connectivity in everyday activities, including video streaming, digital entertainment, social media engagement, and remote work. Network expansion further supported the growth trajectory, with 4G population coverage improving to 85% following sustained investment in network infrastructure.