MTN Nigeria reported a strong financial rebound in 2025, posting a profit after tax of N1.1tn following a challenging 2024 marked by foreign exchange pressures and negative equity. The telecom giant invested N1tn in capital expenditure, more than double the prior year, to expand fibre infrastructure, roll out additional base stations, and strengthen network capacity nationwide.
CEO Dr Karl Toriola described 2025 as a defining year for the company, attributing improved earnings to long-term infrastructure investments. “This investment translates to additional base stations, deeper fibre rollout, expanded capacity and improved network resilience across the country,” he said.
Key performance highlights for 2025 include:
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Total subscriber base grew to 87.3 million, up 7.9% from 2024.
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Active data subscribers increased to 53.2 million, with data traffic rising by 34%.
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Service revenue surged 55.1% to N5.2tn.
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Earnings before interest, tax, depreciation and amortisation (EBITDA) more than doubled to N2.7tn.
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Earnings per share (EPS) turned positive at N53.07 from a negative N19.05 the prior year.
CFO Modupe Kadiri noted that the financial turnaround was driven by deliberate balance sheet repair, disciplined capital allocation, and reduced foreign exchange exposure. The board approved a total dividend of N20 per share for 2025, comprising a final dividend of N15 (subject to shareholder approval) and an interim dividend of N5 already paid.
MTN generated N1.2tn in free cash flow and rebuilt shareholders’ equity to N548.7bn, with retained earnings of N400.4bn, reflecting restored financial stability.
Toriola emphasised that profitability serves as a mechanism for sustained reinvestment rather than an end in itself, supporting broader network coverage and enhanced customer experience. “As Nigeria’s digital ecosystem continues to expand across fintech, small businesses, education and public services, resilient and future-ready telecommunications infrastructure remains foundational to national development,” he said.
