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MTN Nigeria’s AGM Highlights Strong Q1 2025 Performance and Future Growth

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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 ₦202.4 billion in capital expenditures and posted ₦133.7 billion in profit after tax, marking a major turnaround from a ₦392.7 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.

“At MTN Nigeria, we viewed these challenges as catalysts for innovation and decisive action.

“We focused on what mattered most, strengthening the resilience of our network, prioritising customer experience, and accelerating the growth of our commercial operations through our customer value management initiatives.”

However, the company reported a ₦400.4 billion net loss for the year, largely due to ₦740.4 billion in foreign exchange losses from the devaluation of the naira, alongside elevated operating costs, and higher interest expenses. Due to negative retained earnings, the Board was unable to recommend a final dividend for FY 2024, consistent with regulatory requirements.

Looking ahead, MTN Nigeria remains optimistic, citing tariff increases, currency stabilisation, and easing inflation as key factors that will support the company’s return to positive equity in 2025.

Chief Financial Officer, MTN Nigeria, Modupe Kadri, commenting on this optimism said, “Our Q1 2025 results reflect strong operational execution and financial discipline, with service revenue up 40.5% and EBITDA growing by 65.9%.

“We delivered N133.7 billion in profit after tax, marking a significant turnaround from the prior year, while maintaining a healthy cash position and robust balance sheet metrics.”

During the AGM, all resolutions were passed by shareholders, including the adoption of the 2024 financial statements, the re-election of directors, and approval of remuneration policies.

The Q1 2025 report shows the company has returned to profitability and remains committed to strengthening network investments, accelerating digital inclusion, and delivering sustained value to its customers and shareholders.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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NCDC Raises Alarm over Lassa Fever Ravaging 18 States in Nigeria

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Nigeria Centre for Disease Control and Prevention (NCDC) has raised alarm over ravage of Lassa fever cases across 18 states and 67 Local Government Areas (LGAs) of the country.

NCDC Raises Alarm over Lassa Fever Ravaging 18 States in Nigeria

Dr Jide Idris, director-general of NCDC, in statement yesterday, said that Bauchi, Ondo, Taraba, Edo and Benue accounted for more than 80 per cent of confirmed cases recorded during the 2026 peak transmission season.

Idris, described as particularly worrisome the growing infections among healthcare workers, with 28 confirmed cases and three deaths reported so far this season.

NCDC attributed the sustained transmission and rising fatalities to operational gaps at the state level, urging urgent action to strengthen outbreak response and control measures.

According to Idris, field investigations showed most transmissions were occurring in known endemic areas, but weak implementation of established response frameworks had contributed to the continued spread and higher case fatality rate.

He said that gaps identified include infections in general outpatient and maternity settings, poor adherence to Infection Prevention and Control (IPC) protocols, and inadequate pre-positioning of Personal Protective Equipment (PPE).

He added that delayed patient presentation due to financial barriers, inconsistent activation of State Incident Management Systems, weak contact tracing, persistent stigma and poor isolation centre standards were also driving transmission.

Idris emphasised that outbreak response implementation and health service delivery fell primarily under state governments within Nigeria’s federal structure, urging them to strengthen accountability and resource allocation.

He called on affected and high-risk states to urgently activate and closely monitor their Incident Management Systems, ensuring timely coordination and efficient outbreak response at all levels of healthcare delivery.

He also urged the immediate release of response funds, strict enforcement of Infection Prevention and Control (IPC) compliance in public and private health facilities, and continuous availability of PPE and other critical supplies.

The NCDC boss also advocated accelerated financial protection mechanisms to reduce late presentation and high fatality rates, alongside institutionalised rodent control and environmental sanitation measures under a One Health approach.

He advised healthcare workers to maintain a high index of suspicion and adhere strictly to IPC guidelines.

He also urged the public to keep environments clean, prevent rodent entry into homes, store food safely and seek early medical care when symptoms appeared.

Idris noted that Lassa fever was treatable, with improved outcomes when detected early, adding that Nigeria was also responding to other epidemic-prone diseases including Cerebrospinal Meningitis, Diphtheria, Mpox and Cholera.

He reiterated NCDC’s toll-free emergency line, 6232, for reporting suspected cases and obtaining further information


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Lagos Deploys Drones, AI to Boost Traffic Response

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The Lagos State Traffic Management Authority (LASTMA) has deployed a number of real-time digital solutions, including surveillance drones, GPS-enabled patrol vehicles, and automatic incident detection software.

The agency has also established a central command and control centre to reduce emergency response times and improve traffic safety throughout Lagos.

According to the agency, the digital transition will replace manual reporting and fragmented coordination with an integrated, data-driven platform capable of instantaneously detecting, verifying, and dispatching responders to crashes and breakdowns.

According to general manager Olalekan Bakare-Oki, LASTMA, body cameras, mobile data terminals, and toll-free hotlines now feed into a unified operations hub that gives real-time visibility of traffic situations across the state.

Incidents detected by digital surveillance are validated in real time and dispatched to the nearest patrol team using GPS tracking, while officers are instructed via modern communication devices.

According to the agency, the system has eliminated delays caused by poor event reporting and logistical constraints, enabling faster diversions, quicker clearance of accident scenes, and better coordination with medical and security agencies.

Field commanders and rescue teams now operate on synchronised data networks, allowing immediate decisions that reduce secondary crashes and prolonged congestion.

According to LASTMA’s 2025 operational summary, the agency rescued 1,075 people from crash scenes, and impounded 17,169 vehicles for various traffic violations across Lagos through its toll-free hotline.

These figures reflect how timely reporting and coordinated response have already reduced secondary accidents and eased congestion, according to the agency.

It went on to it achieved this with the toll-free reporting system, body cameras, and field coordination networks but with the newly deployed suite of smart technologies, the agency’s impact is poised to multiply.

Bakare-Oki said the upgrade aligns with the state’s smart-city agenda, positioning LASTMA as a technology-enabled public safety agency and laying the groundwork for faster, more reliable mobility management on Lagos roads.

 


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Purple Woman 3.0 Is Back, to Empower Women in Tech this IWD 2026

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This International Women’s Day 2026, the world is saying “Give to Gain.” PalmPay is turning this message into action by empowering young women with the skills and resources to thrive in today’s fast evolving economy.

The PalmPay Purple Woman 3.0 is a 3-Day Digital Financial & Technology Masterclass created to bridge the gender gap in tech. The program is designed to equip women with practical, job  ready skills while also providing job opportunities for career growth.

Launched in 2024, the Purple Woman initiative has impacted 150 women in specialized fields, including Data Analysis, Software Engineering, and Product Management, with learning resources and hands-on skills to launch them into the competitive job market.

From March 5–7, 2026, 100 women aged 18–30 will be selected through a competitive application process to participate in this year’s cohort. Over three immersive days, participants will receive hands-on training from industry experts in digital finance and technology.

And it doesn’t end there.

Ten outstanding participants will secure a 3-6month internship with PalmPay, gaining practical fintech experience that can shape their professional journey.

For participants of this initiative, the Purple Woman Program isn’t just about learning new skills, it’s about building networks, gaining confidence and unlocking bigger opportunities that will positively impact the trajectory of their careers.

For more information about the Purple Woman initiative, visit @PalmPayappng


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