Telecom
Soludo Inks Mou with Microsoft and Wootlab to Train 20,000 Youths on Digital Skills
Prof. Chukwuma Charles Soludo, Governor of Anambra State, has launched Solution Innovation District, (SID); the innovation and business incubation program of the State, starting with the Anambra Digital Tribe Program.
The SID is set up to drive overall innovation in the State including deep technology, creative talents, startups, business innovations etc.
The function which was held at Professor Dora Akunyili Women’s Development Center, Awka, featured the signing of a memorandum understanding with Anambra State Government, Microsoft and Wootlab Foundation to train 20,000 youths on Digital Skills.
Performing the function, Governor Soludo stressed that knowledge and skills are enduring forms of power.
He pointed out that the power of knowledge and skills transcends space and time and is not constrained by any boundaries because it follows an individual anywhere he or she goes.
“The demand for knowledge and skills is global. The certificate you possess doesn’t really matter to the world. They are more interested in your mental capacity and your manual dexterity. This is the game-changing moment” Governor Soludo further pointed out
“The desire to succeed and the desire to add value are the first requirements for success. Your knowledge and abilities will support you in achieving this.
“Being a Governor or President is temporary power, and after your tenure, the world continues. However, when you have knowledge and skills, you have power that lasts a lifetime.
“Those who seek knowledge and skills have a place in the future. We are continuing today with our plan to retake control of our state and put it back on the right course”, he emphasized.
“To the 0.01% of our population who are criminals cannot define who we are. This is the message we sending to them. The 99% of ndi Anambra are renowned for their entrepreneurship, diligence, fortitude, and inventiveness.
“The future starts today! Although, the past few days have been quite busy, I must thank you all for coming, especially our students and youth. I see the brand-new Anambra of our dream when I look into your faces” he added.
The Governor appreciated his Special Adviser on Innovation and Business Incubation, Ms Chinwe Okoli, for organizing the programme, as well as Microsoft and Wootlab Foundation for supporting Anambra.
“I think that this alliance will serve as the cornerstone of our future.
“The transition of Anambra from commerce; a largely informal to a formal economy, particularly in the area of digital skills, has started” Governor Soludo stated.
The Governor spoke about other things including annual training of 10,000 youths on digital skills, cascaded to primary and secondary schools, universities, Churches, and communities; access to high speed internet, expressing his belief that launching of the Solution Innovation District would bring the world to Anambra and allow them to export their skills to the rest of the world.
On his part, the Commissioner for Youth, Mr. Patrick Aghamba, recalled that Governor Soludo had launched the one youth, two skills programme in October 2022 as a pilot phase of his agenda and reported that the programme was progressing well.
The Commissioner emphasized that the opportunities that lie in digital skills are overwhelming, maintained that the task of youth empowerment is a huge task and called on all stakeholders to participate in the programme.
He expressed satisfaction that Anambra State is not falling behind in terms of digital literacy, adding that the goal is to provide more quality jobs.
Earlier in her opening remarks, the Special Adviser to the Governor on Innovation and Business Incubation, Ms Chinwe Okoli welcomed Microsoft and Wootlab foundation as official partners of the State Government and thanked Governor Soludo for launching the Solution Innovation District.
“This journey aims to unleash the Anambra people’s creativity and is consistent with the Governor’s goal of making Anambra State a livable and prosperous smart megacity.
“The Solution Innovation District was established in Anambra State to foster and promote skill, innovation, including digital skills. It will be a community of entrepreneurs, innovators, investors, and clever artisans who will all work together to find solutions to issues in Anambra, Nigeria, and around the world”.
According to the Special Adviser, the SID components include digital skills, business incubation and SME innovations. The end result is to produce thousands of millionaires each year.
She also mentioned SMEs acceleration from Onitsha to Awka to Nnewi, will help small business owners leverage on technology and reach more markets, make more money, hire more people, and create jobs.
The Representative of the Microsoft Country Manager for Nigeria and Ghana, Olatomiwa Williams the Chief Executive Officer of Wootlab Foundation, Chioma Okoro described the initiative as a move in the right direction asserting that the fourth industrial revolution has already begun.
Every Anambra youth is welcome to apply via this link: bit.ly/LEVELUPANAMBRA.
Deadline is 4th April, 2023.
R-L: Mr Patrick Aghamba, Commissioner for Youth Development, Chioma Okoro, CEO Wootlab Foundation, Prof.Charles Chukwuma Soludo., Anambra State Governor, Chinwe Okoli,
Special Adviser to the Governor on Innovation and Business Incubation, Olanrewaju Oyinbooke, Senior Cloud Advocate, Microsoft, during the signing ceremony held at Professor Dora Akunyili Women’s Development Center, Awka.
Dimension Data Nigeria has raised ₦20 billion (approximately $13.7 million) through a bond programme under Dimension Data SPV Funding Plc, following approval from the Securities and Exchange Commission of Nigeria.
This initiative aims to strengthen Nigeria’s digital infrastructure by addressing gaps in fibre coverage, limited enterprise connectivity, and increasing demand for cloud, fintech, digital services, and Artificial Intelligence.
The integrated IT solutions provider stated that the capital will be used to fund long-term investments in expanding network capacity, enhancing resilience, and supporting carrier-grade and enterprise services as data consumption continues to accelerate nationwide.
Speaking at a documentation and regulatory clearances event in Lagos, managing director, Gbenga Olabiyi, said sustained infrastructure investment is critical to maintaining competitiveness and enabling future growth.
He noted that strategic upgrades would help future-proof operations, reduce service disruptions, and allow the company to scale efficiently as business and consumer demand for cloud, fintech, and other digital services intensifies.
The bond programme is backed by private equity firm Mbavaa Partners Limited, whose managing partner, Shatse Kakwagh, described the transaction as a milestone that unlocks long-term capital for expansion.
He highlighted that strong ratings and an oversubscribed first issuance show investor confidence in Dimension Data’s execution and growth potential.
The fundraising comes as Nigeria confronts persistent infrastructure gaps, including limited metro and last-mile fibre coverage and rising enterprise connectivity needs.
Government intends to deploy 90,000 kilometres of fibre nationwide under Project Bridge aim to expand internet penetration and lower access costs.
MTN Nigeria Communications Plc has recorded a landmark turnaround in 2025, posting a pre‑tax profit of N1.70 trillion, reversing a loss of N550.3 billion in 2024 as the company emerged from a rough patch driven largely by foreign exchange volatility.
MTN Nigeria
The telecom giant said the performance reflects a “significant turning point” in its corporate and financial trajectory, underpinned by improved macroeconomic conditions, strong service‑revenue growth, and tightening operational efficiency.
Profitability, Revenue, and Dividend
For the full year 2025, MTN Nigeria reported profit after tax of N1.11 trillion, compared with a loss after tax of N400.4 billion in 2024, while earnings per share rose to N53.07 from a negative N19.05 a year earlier.
Total revenue grew 54.9% year‑on‑year to N5.20 trillion, with service revenue up 55.1% to N5.17 trillion, driven mainly by data, voice, and fintech services.
The company’s board proposed a final cash dividend of N15 per share, bringing the total dividend for the 2025 financial year to N20 per share. Dividends will be paid electronically to shareholders on the register as of April 8, 2026, subject to completed e‑dividend mandates.
This payout is one of the largest single‑year dividends in Nigerian corporate history, signalling strong cash‑flow generation and management confidence in the company’s earnings quality.
Fourth‑Quarter Momentum and Customer Base
MTN Nigeria’s fourth‑quarter performance was particularly robust, with pre‑tax profit surging 248.8% year‑on‑year to N569.6 billion, compared with N163.3 billion in Q4 2024.
The company’s mobile subscriber base reached 87.3 million at year‑end, up 7.9% from the previous year, reinforcing its position as Nigeria’s largest telecom operator by subscribers.
Active data users grew by 11.6% to 53.2 million, and smartphone penetration rose to 66.1%, reflecting the deepening shift toward data‑driven services and digital lifestyles among Nigerians.
Data, Fintech, and Voice Growth
Data was the biggest growth driver, with data revenue up 74.5% to N2.78 trillion and data traffic increasing 34.0%, amid rising demand for mobile broadband and video streaming.
Voice revenue also climbed strongly, rising 42.1% to N1.85 trillion as tariffs and usage patterns adjusted to more stable exchange‑rate conditions.
Fintech revenue surged 79.7% to N191.3 billion, underscoring the rapid expansion of MTN Nigeria’s mobile money ecosystem and the growing role of digital financial inclusion in the country’s economy.
Cost Management and EBITDA Leap
Operating leverage improved markedly, with cost of sales rising 30.3% and operating expenses up 16.7%, both growth rates below the 55% revenue expansion.
EBITDA jumped 108.9% to N2.74 trillion, lifting the company’s EBITDA margin into the mid‑to‑high 50% range, ahead of its prior guidance.
Management attributed the improvement to a more stable foreign‑exchange market, moderated inflation, and sustained demand for data and digital services, as well as disciplined cost control.
FX Recovery and Capital Expenditure
Foreign exchange performance was a major swing factor: MTN Nigeria recorded a net FX gain of N90.3 billion in 2025, compared with a N925.4 billion FX loss in 2024.
The turnaround followed settlement of outstanding letters of credit and a deliberate reduction in dollar‑denominated exposure, which helped insulate earnings from earlier currency shocks.
Capital expenditure excluding leases rose 126.2% to N1.00 trillion, as the company invested heavily in network capacity, coverage, and digital infrastructure, including fibre rollout and 4G/LTE upgrades.
Despite the higher capex, free cash flow soared 215.5% to N1.2 trillion, indicating that the expansion is being funded internally without straining the balance sheet.
Balance Sheet and Shareholder Value
The company’s balance sheet strengthened materially, with total assets up 28.7% to N5.40 trillion and shareholders’ equity turning positive after several years in deficit.
Shareholders’ funds rose 219.8% to N548.7 billion, while retained earnings closed at N400.4 billion, compared with negative N607.5 billion in December 2024.
In the stock market, MTN Nigeria’s shares recently traded around N760, making it the most capitalised company on the Nigerian Exchange with a market valuation of about N16 trillion.
The stock has gained 33% in February 2026 alone, taking year‑to‑date returns to 49%, following a 155.5% rally in 2025, which investors see as a vote of confidence in the company’s turnaround story.
Outlook and Strategic Guidance
Management maintains a medium‑term service‑revenue growth guidance of at least low‑20% annually, underpinned by ongoing data and fintech expansion as well as gradual price adjustments.
The group has also revised its EBITDA margin guidance upward to the mid‑to‑high 50% range, signalling sustained profitability even as the company continues to invest in network and digital infrastructure.
Analysts note that MTN Nigeria’s 2025 performance not only restores investor confidence but also sets a benchmark for other Nigerian corporates navigating FX‑linked risks and regulatory uncertainty.
In a bold move to future-proof Nigeria’s telecommunications infrastructure, MTN Nigeria embarked on a massive N1.0 trillion Capital Expenditure (CAPEX) drive, backed by its record-breaking 2025 financial performance.
MTN
The company’s audited results revealed a historic 108.9% increase in EBITDA to N2.7 trillion and a 215.5% rise in free cash flow to N1.2 trillion, providing the exact financial muscle necessary for this aggressive network expansion.
According to the firm’s strategic blueprint, without the ability to generate strong returns, the N1.0 trillion CAPEX required to maintain the network and deploy advanced technologies would simply not exist.
This accelerated network investment is already yielding significant dividends in consumer usage and reliability. The 2025 results showed a massive 74.5% surge in data revenue alongside a 42.1% increase in voice revenue. Furthermore, active data subscribers grew by 11.6% to hit 53.2 million, underscoring the robust commercial momentum and the continuous public demand for high-quality internet services powered by fresh CAPEX.
Speaking on the company’s trajectory, CEO Karl Olutokun Toriola confirmed that the restoration of positive retained earnings and a highly resilient balance sheet directly supported this accelerated network investment.
He said: “2025 marked a significant turning point in our business performance, with a return to profitability, stronger free cash flow, and the restoration of positive retained earnings and shareholders’ funds, enabling the resumption of dividend payments.
“Our balance sheet resilience – underpinned by robust operating performance, disciplined capital allocation, and reduced foreign currency exposure – supported accelerated network investment to enhance quality of service and user experience, positioning us to sustain growth and deliver attractive long term shareholder returns.”
The company continues to position this N1.0 trillion infrastructure spending as a cornerstone of its economic patriotism. As the largest corporate taxpayer, MTN noted that its heavy investments directly support government digital infrastructure ambitions and social welfare whilst stimulating the local tech ecosystem.
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