MTN Nigeria posts N1.1tn profit in 2025 after N1tn investment in network expansion, fibre rollout, and base stations, boosting subscribers and data traffic
MTN Nigeria reported a profit after tax of N1.1 trillion for the 2025 financial year, marking a sharp rebound after a challenging 2024, as the country’s largest telecommunications operator invested N1 trillion in network expansion and modernisation.
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The investment, more than double the prior year’s capital expenditure, was directed toward deploying additional base stations, expanding fibre infrastructure, increasing network capacity, and strengthening resilience nationwide.
Chief Executive Officer Dr Karl Toriola described 2025 as a defining year for the company, linking the financial turnaround to long-term infrastructure development.
“Sustaining critical digital infrastructure requires disciplined capital allocation and a deliberate long-term approach,” he said.
MTN Nigeria’s total subscriber base rose to 87.3 million, up 7.9 per cent, while active data subscribers reached 53.2 million, with data traffic growing 34 per cent during the year.
These figures reflect strong demand for digital services and underscore the importance of continued investment in network capacity.
Service revenue increased 55.1 per cent to N5.2 trillion, while earnings before interest, tax, depreciation, and amortisation more than doubled to N2.7 trillion. Earnings per share turned positive at N53.07, compared to a negative N19.05 in 2024.
Chief Financial Officer Modupe Kadiri highlighted that the company’s recovery was driven by balance sheet repair, disciplined capital allocation, and reduced foreign exchange exposure.
The board approved a total dividend of N20 per share, comprising an interim dividend of N5 already paid and a proposed final dividend of N15 subject to shareholder approval.
MTN generated N1.2 trillion in free cash flow and restored shareholders’ equity to N548.7 billion, with retained earnings of N400.4 billion at year-end, reflecting strengthened financial stability after the previous year’s volatility.
Dr Toriola emphasised that profitability enables continued reinvestment rather than serving as an end in itself.
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“Profit, in our context, is the mechanism that enables continued investment in network quality, broader coverage and enhanced customer experience,” he said, highlighting the company’s role in supporting Nigeria’s expanding digital ecosystem across fintech, education, small businesses, and public services.
