Connect with us

Telecom

MTN Rakes in N947Bn Revenue as PAT Grows 28% to N181.6Bn

Published

on

Kindly share this post

MTN Nigeria has recorded a  28.1 per cent rise in profit after tax (PAT) to N181.6 billion in the first half of the year, with profit before tax (PBT) up by 24.9 per cent to N268.6 billion and earnings per share (EPS) rising by 28.1 per cent to N8.92.

MTN Rakes in N947Bn Revenue as PAT Grows 28% to N181.6Bn

Mr Karl Toriola, CEO, MTN

According to the company in its unaudited results for the half-year ended June 30, 2022, the capital expenditure (Capex) rose by 67.1 per cent to N311.6 billion (up 78.6 per cent to N204.5 billion, excluding the right of use assets.

The financial statements also showed that there were a lot of increases led by active fintech subscribers which rose by 87.3 per cent to 11.5 million, driven by MoMo wallets since launching the payment service bank on May 19, 2022.

Active data users increased by 13.2 per cent to 36.8 million as it added 2.5 million active users in H1 2022 while mobile subscribers increased by 7.6 per cent to 74.1 million, indicating a growth of 5.7 million subscribers in the period.

Others include an increase in service revenue by 19.9 per cent to N947.9 billion; as earnings before interest, tax, depreciation, and amortisation (EBITDA) grew by 22.1 per cent to N509.3 billion; while EBITDA margin increased by 0.9 percentage points (pp) to 53.6 per cent.

The telco’s interim dividend was pegged at N5.60 per share, up by 23.1 per cent.

MTN’s operating expenses (opex) in the first six months of the year increased by 15.1 per cent due to the effects of Naira depreciation and higher Dollar consumer price index (CPI) on lease rental costs.

The firm also blamed the rising energy costs in the West African nation as part of the reasons for its increased expenses.

Similarly, its cost of sales went up by 22.9 per cent as the firm spent N162bn in the first six months of 2022, compared to N132bn spent in the corresponding period.

In the report, Mr Karl Toriola, company’s chief executive officer, said the company saved costs via its expense efficiency programme.

“We continue to realize cost savings through our expense efficiency programme, and we remain disciplined with capital allocation. Cost of sales rose by 22.9 per cent off a low base in the prior year, which was depressed by the suspension of new Subscriber Identification Module (SIM) sales and activations by the regulator, lower device purchases during the period, and the impact of growing gross connections in the current year.

“Operating expenses (opex) increased by 15.1 per cent due to the effects of naira depreciation and higher dollar CPI on lease rental costs, the acceleration in our site rollout and rising energy costs. The escalation of diesel prices in Nigeria contributed to the 12.2 per cent increase in direct network operating costs with a 0.3 per cent earnings before interest, taxes, depreciation, and amortization (EBITDA) margin impact,” he said.

MTN, in its outlook for the year, stressed that it has continued to witness strong headwinds such as rising general inflation, paucity of foreign exchange, supply chain disruptions, and higher diesel and petrol prices, which it said placed more financial pressure on its customers, as well as its business.

It, however, looked forward to a surge in subscriber base in the third quarter of the year. The firm stated that the growth would be based on how well it regains subscribers lost to the National Identity Numbers (NIN) enrolment.

The telco planned to commence the rollout of 5G services in all of Nigeria’s six geopolitical zones from the third quarter (Q3) of 2022.


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Telecom

New Investment Fund Targets Acceleration of Emerging Technology in Nigeria

Published

on

Kindly share this post

The International Rescue Committee (IRC) has announced the formation of Airbel Ventures, a new humanitarian impact investing fund aimed at accelerating the introduction and scaling of breakthrough technologies in crisis-affected communities.

The fund will invest in companies whose ideas have the potential to change humanitarian response, including digital infrastructure for frontline health systems and climate-resilient agriculture.

The launch of Airbel Ventures follows a period of rapid innovation at the IRC, despite the humanitarian sector facing record funding cuts.

In the past year, the IRC’s Airbel Impact Lab has advanced more than twenty Artificial Intelligence (AI) and technology initiatives—from anticipatory action tools powered by climate and vulnerability data, to frontline service delivery using safe, orchestrated AI systems, to breakthrough diagnostic tools for emerging diseases.

Airbel Ventures’ first impact investment is in Signalytic, a company delivering solar-powered computing devices that ensure reliable electricity and connectivity for remote health facilities.

Following the investment, the IRC will pilot Signalytic’s technology with its Nigeria Health team, demonstrating the viability of next-generation digital infrastructure in humanitarian settings.

“We know breakthrough solutions already exist—what’s missing is the path to scale in humanitarian contexts,” said Dr. Jeannie Annan, Senior Vice President for Research & Innovation at the IRC and head of the Airbel Impact Lab.

 


Kindly share this post
Continue Reading

Telecom

MTN Nigeria Suffers 9,218 Fibre Cuts in 2025 as Vandalism, Theft Cripple Network

Published

on

Kindly share this post

MTN Nigeria, the country’s largest telecommunications operator, recorded a historic surge in network disruptions in 2025, suffering 9,218 fibre cuts as of December 31, alongside 211 base station sites affected by theft and vandalism, incidents that disrupted mobile and data services relied upon daily by millions of Nigerians.

MTN Nigeria Suffers 9,218 Fibre Cuts in 2025 as Vandalism, Theft Cripple Network

The data was revealed by Dr Karl Toriola, chief executive officer/managing director, MTN Nigeria via a social media post titled ‘MTN Nigeria 2025 Wrapped’.

The scale of the damage highlights the growing vulnerability of Nigeria’s telecommunications infrastructure, which has come under increasing pressure from road construction activities, cable theft and deliberate acts of vandalism.

MTN said 5,478 fibre cuts occurred within just the first seven months of 2025, with 760 incidents recorded in July alone, underscoring the intensity of the challenge.

Some of the incidents had wide-ranging consequences, knocking out connectivity across multiple states simultaneously and affecting voice calls, data services, digital payments and enterprise operations.

The company described the situation as a national infrastructure problem, rather than an isolated corporate issue, given the economy’s deep dependence on mobile networks.

“These gaps were shaped by real operational challenges such as fibre cuts, theft, and vandalism. Their impact is felt directly by customers and reflected in what they tell us,” Toriola,

The disruptions were reflected in customer feedback volumes, as MTN handled an unprecedented number of complaints during the year. The operator said it resolved 1,624,263 customer complaints in 2025, spanning call centres, social media platforms, emails and physical service centres nationwide.

Despite the setbacks, MTN pointed to signs of operational resilience. The company retained its ranking as Nigeria’s best network by Ookla, returned to profitability after a challenging period, declared an interim dividend, and expanded its subscriber base to over 85 million users by September 2025.

The figures show that while Nigeria’s telecom operators continue to invest heavily in network expansion and customer service, infrastructure sabotage remains a major drag on service quality and operating costs.

MTN acknowledged that performance improvements remain a work in progress. “We are not where we want to be yet. We see you. We hear you. We exist because of you. And we will get better,” Toriola said.

As the company enters its 25th year of operations in Nigeria, Toriola said MTN is doubling down on customer-centricity, treating every piece of feedback as a guide for improvement, while also stepping up engagement with government agencies.

The CEO renewed calls for stronger regulatory and legal protections for telecommunications infrastructure, urging policymakers to classify fibre cables, base stations and other critical assets as national infrastructure and criminalise vandalism to deter repeat attacks.


Kindly share this post
Continue Reading

Telecom

NCC Licences Six New ISPs to Challenge Telcos, Satellite Giants

Published

on

Kindly share this post

Nigerian Communications Commission (NCC) has granted operating licences to six new Internet Service Providers (ISPs), effective January 1, 2026, raising the total number of authorised ISPs in the country to 231 from 225 recorded in December 2025.

NCC Licences Six New ISPs to Challenge Telcos, Satellite Giants

NCC

The newly licensed firms are Intellvision Technologies Limited, Granet Technologies Limited, Fiber Sonic Limited, Dasol Solution Services Ltd, Boost ISP Limited, and Amazon Kuiper Nigeria Limited.

Five of these companies are headquartered in Lagos, while Granet Technologies Limited operates from Owerri in Imo State, highlighting the persistent concentration of broadband infrastructure in major commercial hubs like Lagos, Abuja, and Port Harcourt.

This development intensifies competition in Nigeria’s broadband market, which faces pressure from dominant mobile network operators such as MTN and Airtel, alongside rapid expansion by satellite providers like Starlink.

Traditional ISPs continue to grapple with shrinking customer bases, aggressive data pricing from telcos, and satellite disruptions, even as NCC data from Q2 2025 showed Spectranet, Starlink, and FibreOne controlling about 65 per cent of the 313,713 active ISP subscribers.

The inclusion of Amazon Kuiper Nigeria Limited marks a significant entry of global satellite broadband competition, building on Nigeria’s recent approvals for other low Earth orbit providers to enhance connectivity in underserved areas.

Industry analysts view the licences as a strategic push to improve internet quality amid rising demand for digital services, though geographic clustering underscores ongoing infrastructure challenges outside urban centres.

NCC’s move aligns with broader efforts to foster a competitive telecoms sector critical to Nigeria’s digital economy ambitions.


Kindly share this post
Continue Reading

Trending