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MTN Investment in Nigeria Hits N2trn

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MTN Nigeria Communications Plc has invested more than N2 trillion in its business operations over the past 18 years.

 

The market value of MTN Nigeria closed at the weekend at N2.585 trillion.

 

MTN Nigeria, in a regulatory filing at the Nigerian Stock Exchange (NSE) at the weekend, indicated that it has invested more than N2 trillion since incorporation in 2001.

 

MTN Nigeria reiterated its commitments to the Nigerian economy, noting that it had paid more than N1.7 trillion in taxes, levies and other regulatory fees in its nearly two decades of existence.

 

The market value of MTN Nigeria dropped by 1.59 per cent to close weekend at N2.585 trillion.

 

The share price decline came on the heels of what the telecommunications company described as “technical disagreement” with the Federal Inland Revenue Service (FIRS) over the tax treatment of the N330 billion fine imposed on the company for failing to deactivate more than five million unregistered SIM cards. MTN Nigeria had completed the payment of the N330 billion fine in May 2019 but the tax treatment remains a subject of judicial review at the Tax Tribunal.

 

MTN Nigeria believes the N330b fine should be treated as part of operating cost and not subjected to any other tax but FIRS holds that the fine should be subjected to tax.

 

MTN Nigeria has remained Nigeria’s second largest quoted company since listing on the NSE in May 2019. MTN Nigeria last month earmarked N60 billion as interim cash dividend to shareholders as it released its first earnings report as a quoted company.

 

The board of the telco indicated shareholders will receive a dividend per share of N2.95 for the first half ended June 30, 2019. This however represented a drop of 17.83 per cent from N3.59 per share paid for the first half of 2018.

 

Key extracts of the six-month report for the period ended June 30, 2019 showed that MTN Nigeria’s profit before tax rose by 30.9 per cent to N141.8 billion in first half 2019 as against N108.35 billion recorded in comparable period of 2018. Profit after tax grew by 34.8 per cent from N73.4 billion to N98.93 billion.

 

Total turnover grew by 12.12 per cent to N566.95 billion as against N505.67 billion. Operating profit had risen by 39.49 per cent from N136.50 billion to N190.4 billion. Earnings per share rose by 34.8 per cent to N4.86 compared with N3.61.

 

The report showed that the telco’s mobile subscribers increased by 3.3 million within the first six months of this year to 61.5 million while service revenue increased by 12.2 per cent. Voice revenue increased by 11.4 per cent, data revenue rose by 31.7 per cent while fintech revenue increased by 21.2 per cent.

 

However, digital revenue dropped by 64.5 per cent. The company’s earnings before interest, tax depreciation and amortization (EBITDA) rose by 40 per cent to N304.9 billion while EBITDA margin improved by 10.7 percentage points to 53.8 per cent.

 

Nigeria is MTN’s largest market, accounting for one-third of the South African Group’s business. The telco last week announced that the Central Bank of Nigeria (CBN) has granted its subsidiary, Yello Digital Financial Services Limited (YDFS), full Super Agent Licence. The licence will enable MTN Nigeria to convert its existing airtime agents and recruit other small businesses to distribute financial services.

 

The telco stated that the Super Agent Licence will enable it to pursue its fintech strategy, as part of efforts to deepen financial inclusion in Nigeria.

 

Ferdi Moolman, chief executive officer, MTN Nigeria Communications Plc, described the first half performance as a solid performance as the company continued to invest to improve network quality and expand 4G coverage.

 

He noted that recent work on revamping data prices and accelerating 4G network has put the company in a strong competitive position to offer more value to customers and provide new impetus for overall corporate growth.

 

He said the listing of the company on the Nigerian Stock Exchange (NSE) in May 2019 demonstrated the company’s commitment to the Nigerian market while providing opportunity to domestic investors to participate in and benefit from the company’s growth.

 

“Our overriding priority for the rest of the year is to focus on our BRIGHT strategy to build a sustainable business and create value for customers. We will continue to progress in the second half of the year making improvements to our network experience, subscriber growth and enhance operational efficiency. We expect lower data pricing and our acceleration of the 4G network expansion to bolster the acquisition of customers and data traffic volumes in the second half,” Moolman said.

 


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Airtel Nigeria Commits to Boosting Nigeria’s Digital Infrastructure

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Airtel Nigeria has reaffirmed its long-term commitment to strengthening Nigeria’s digital infrastructure and data access to bridge gaps in connectivity and unlock new opportunities in the country.

The company restated this commitment during a recent high-level inspection tour of the Nxtra Data Centre that is being developed through Nxtra by Airtel Africa at Eko Atlantic, Lagos, the highly rated smart city with ambition to become the Data Centre hub of Nigeria.

The inspection tour was led by the Chief Executive Officer of Airtel Nigeria, Dinesh Balsingh and the Chief Executive Officer of Nxtra by Airtel Africa, Yashnath Issur, with the esteemed chairman of Eko Atlantic Mr. Gabbi Massoud, the CEO of the lead Engineering firm Design Group Limited, Mr. Bayo Odunlami and tech journalists.

The Nxtra Data Centre went through a stringent design validation process and cleared the approval to proceed construction from Eko Atlantic.

Commenting on the developments, Mr Issur said the site visit was a milestone marker and an indication of the company’s commitment to delivering the world-class digital facility on time and ensure that, ultimately, the investments deliver reliable, secure, world-class services for Nigeria and the rest of the continent.

“This Nxtra Data Centre in Lagos represents a critical part of our long-term vision for Nigeria’s digital ecosystem. Today’s visit allows us to review progress, engage our stakeholders, and ensure that our infrastructure investments continue to meet global standards and local needs.

“This data centre will deliver critical high multi megawatt capacity in line with hyperscale customers and enable high density environment. We are putting the infra to bring the cloud to Nigeria,” he said.

The data centre, set to be the largest in Nigeria, is being established to deliver hyperscale and edge facilities across key African markets. With a load of 38 Megawatts, the Lagos facility is expected to serve as a major hub for data hosting, cloud services, content distribution, artificial intelligence, and enterprise solutions in West Africa.

In his remarks, Mr Balsingh reiterated that the data centre was progressing steadily towards the previously announced 2028 go live date.

“Since the announcement of this project, our focus has been on building a world-class facility that supports Africa’s digital transformation agenda. We are encouraged by the progress recorded so far and remain committed to delivering a secure, energy-efficient, and future-ready data centre for Nigeria,” he said.

During the tour, stakeholders were ushered through key sections of the site, including piling zones, where required structural requirements have been tested. Technical teams provided briefings on infrastructure design, security architecture, redundancy systems, and sustainability measures being implemented to ensure reliability and operational excellence.

Strategically located close to major fibre routes and undersea cable landing stations, the Eko Atlantic data centre is designed to enhance Nigeria’s data sovereignty, reduce latency, and improve access to reliable digital services for private and enterprise customers, significantly boosting the country’s data hosting capacity and supporting emerging technologies such as artificial intelligence and cloud computing.

Mr. Massoud noted that the inspection tour underscored the city’s dedication to infrastructure of global relevance.

“Eko Atlantic as a city with high quality infrastructure will contribute positively to boost the economy of Nigeria and is a perfect place for the development of the digital infrastructure of Nigeria. The Nxtra data centre reflects the calibre of projects we seek to attract — long-term, technology-driven investments built to the highest global standards.

Today’s visit affirms the rigour of the planning and execution process by Nxtra, and the commitment of Eko Atlantic to facilitate and promote the Nigeria’s evolving digital ecosystem,” he said.

Through this ongoing investment, Airtel Nigeria and Nxtra continue to demonstrate their commitment to building infrastructure that enables innovation, supports economic development, and accelerates Nigeria’s digital transformation.

Nxtra by Airtel is developing a network of hyperscale data centres across the continent. Besides Lagos, construction of a new data centre has also commenced in Nairobi, Kenya and the Democratic Republic of Congo.


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Google, African Partners Launch WAXAL to Empower 100m Africans in AI Era

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Google has partnered with top African research institutions to unveil WAXAL, a massive open-access speech dataset aimed at giving over 100 million people across Sub-Saharan Africa a stronger voice in the AI future.

Google, African Partners Launch WAXAL to Empower 100m Africans in AI Era

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The initiative, announced Monday, targets a key digital gap by supplying high-quality data for 21 local languages, such as Hausa, Yoruba, Luganda, and Acholi. It includes 1,250 hours of transcribed natural speech and more than 20 hours of studio-grade recordings for advanced synthetic voice tech.

Voice AI has exploded globally, yet Africa’s 2,000-plus languages suffer from severe data shortages, sidelining hundreds of millions from native-tongue tech access. WAXAL, three years in the making with Google funding, changes that equation.

“This dataset lays the groundwork for students, researchers, and entrepreneurs to craft tech in their own languages, impacting over 100 million lives,” said Aisha Walcott-Bryantt, Head of Google Research Africa.

She highlighted its potential for African innovators to develop educational tools and voice services that spark economic growth continent-wide.

Community-led from the start, the project involved Makerere University (Uganda), University of Ghana, Digital Umuganda (Rwanda), and others. These partners own the data outright, pioneering fair AI collaboration models.

Covered languages: Acholi, Akan, Dagaare, Dagbani, Dholuo, Ewe, Fante, Fulani (Fula), Hausa, Igbo, Ikposo (Kposo), Kikuyu, Lingala, Luganda, Malagasy, Masaaba, Nyankole, Rukiga, Shona, Soga (Lusoga), Swahili, Yoruba.

WAXAL goes live today. Details at goo.gle/IntroducingWaxal.


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NCC Hails $1Bn Telecom Surge as Networks Hit New Highs

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Nigerian Communications Commission (NCC) has unveiled its Q4 2025 Network Performance Reports, showcasing nationwide quality boosts fueled by over $1 billion in industry investments and sharper regulatory focus.

NCC Hails $1bn Telecom Surge as Networks Hit New Highs

NCC

Speaking at the launch, Dr. Aminu Maida, executive vice chairman, NCC,  hailed the Ookla-backed data as proof of NCC’s drive for transparent, evidence-driven oversight of Nigeria’s digital growth.

The reports track real-user experiences across cities, villages, highways, and nascent 5G areas, revealing faster median download speeds in both urban and rural spots versus Q3 2025.

Video streaming quality gaps between city and countryside have shrunk, thanks to a beefed-up 4G network—yet 5G rollout lags, upload speeds falter, and coverage holes linger in spots.

Maida said NCC is leaning on operators to fix these via spectrum tweaks, infrastructure drives, and stricter service rules, with 2025’s 2,850 new sites already paying off in broader reach and capacity.

Operators pledge even bigger spends in 2026 to keep the momentum, aiming for top-tier connectivity and economic inclusion for all Nigerians.

“We’ll turn these insights into real gains in service and access,” Maida affirmed, calling for sustained industry teamwork.


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