MTN Nigeria Holds AGM amidst Impressive Q1 2025 Results Release

• Invests N202.4 billion to elevate connectivity nationwide.

MTN Nigeria Communications Plc held its 2025 Annual General Meeting (AGM) in Lagos today, where shareholders reviewed the company’s full-year financial performance and endorsed its strategic priorities for the future.

The AGM came on the heels of a strong first quarter in 2025, during which MTN Nigeria invested a record N202.4 billion in capital expenditures and posted N133.7 billion in profit after tax, marking a major turnaround from a N392.7 billion loss in Q1 2024.

This 159% year-on-year surge in Q1 CAPEX— the company’s highest-ever quarterly investment—has gone into expanding network capacity, boosting data speeds, and enhancing service quality nationwide, in response to rising demand for digital services.

The Chairman of the Board, Dr. Ernest Ndukwe (OFR), addressed shareholders, saying: “On behalf of the MTN Nigeria family, I am proud to affirm that our business remains deeply rooted in strength and resilience. Our foundation remains solid, and our role within the broader economic landscape is unwavering, even amidst the challenges we encountered over the past year.

As we reflect on this journey, I am inspired by the resilience of the Board, management, and staff of our Company, backed by the unwavering confidence of our shareholders, the valued support of our customers, and the immense potential of our nation, Nigeria.”

Dr. Karl Toriola, Chief Executive Officer stated: “The year 2024 undoubtedly tested our resilience as we navigated a challenging operating environment marked by severe macroeconomic conditions.