MTN Nigeria Communications Plc has invested N202.4 billion in capital expenditure (Capex) in the first quarter of 2025, marking a 159 per cent increase compared to the same period last year.

The investment, according to the company’s unaudited financial results for the quarter ended March 31, is aimed at improving network infrastructure and enhancing service delivery to customers across the country.

The telecom giant recorded a 40.5 per cent growth in service revenue, driven by strong demand and strategic commercial execution. Data revenue surged by 51.5 per cent, supported by a growing active user base and increased data consumption.

In its fintech division, MTN Nigeria reported a 57.9 per cent rise in revenue, attributed to the strong performance of airtime lending services and higher float income.

However, its active wallet base declined by 25.7 per cent to 2.1 million, reflecting the company’s focus on quality over quantity in customer acquisition.

Despite challenges in the broader economy, MTN Nigeria posted a profit after tax of N133.7 billion, recovering from a loss of N392.7 billion in the previous year. Its EBITDA increased by 65.9 per cent, with the EBITDA margin expanding to 46.6 per cent.

Karl Toriola, chief executive officer, MTN Nigeria expressed confidence in the company’s trajectory, stating: “We are pleased with our performance in the first quarter of 2025, which reflects the continued execution of our strategic priorities and the resilience of demand for our services.

“Building on the momentum from Q4 2024, our Q1 results place us firmly on the path to restoring profitability and achieving a positive net asset position within the current financial year, while increasing our investments to improve network and service quality.”

With a free cash flow of N209.9 billion, MTN Nigeria maintains a solid funding and liquidity position, reinforcing its market leadership in the telecommunications sector.

MTN Nigeria Communications Plc has said it generated N1.0 trillion in service revenue in the first quarter of 2025, a 40.5 per cent increase from the N752.99 billion earned in Q1 2024.

MTN Nigeria said this in a corporate filing with the Nigerian Exchange Ltd. on Tuesday.

However, the company’s after tax dropped by 134 per cent, falling to N133.7 billion from N392.7 billion in the same period of 2024.

Its total subscriber base grew by 8.2 per cent to 84.1 million, with 3.2 million new additions in Q1 2025.

MTN Nigeria also said the number of its active data users rose by 13 per cent to 50.3 million, following the addition of 2.6 million users.

EBITDA climbed 65.9 per cent to N492.7 billion, while EBITDA margin improved by 7.2 percentage points to 46.6 per cent.

The company recorded free cash flow of N209.9 billion and earnings per share stood at N6.38.

Karl Toriola, MTN Nigeria CEO, expressed satisfaction with the Q1 2025 results, citing strong strategic execution and resilient service demand.

He said momentum from Q4 2024 had helped put the firm on track to restore profitability and achieve a positive net asset position.

He added that regulatory approval for price adjustments was essential to sustain investment and maintain service quality.

This approval enabled N202.4 billion in capital expenditure, up 159 per cent, aimed at expanding capacity and enhancing user experience.

Toriola said the 40.5 per cent growth in service revenue underscored strong demand and commercial discipline.

He noted that Q1 results do not yet reflect the full impact of price changes made late in the quarter.

National Bureau of Statistics (NBS) has introduced a crowd-sourcing initiative aimed at providing more accurate statistical information and data to policymakers and the general public.

According to a statement issued by Folorunso Alesanmi, head of Public Relations, the initiative, which commenced several months ago, involves compiling daily price data from a wide range of sources.

These include open markets, supermarkets, neighbourhood shops, bulk and discount stores, street outlets, and large retail shops.

Data collection has been conducted across all 36 States, the Federal Capital Territory (FCT), and every senatorial district.

However, the Bureau clarified that price data gathered through crowd-sourcing differs from the data used in computing the Consumer Price Index (CPI).

While CPI data is collected at specific, pre-determined outlets during the second and third weeks of each month, crowd-sourced price data is gathered randomly from different respondents daily.

By leveraging the power of crowd-sourcing, the Bureau has been able to gather a vast amount of data that offers a more nuanced picture of price trends in the economy.

“We are thrilled to release our first price data compiled through crowd-sourcing. This initiative represents a major step forward in our efforts to harness the power of technology and innovation to improve the quality and timeliness of our statistical data,” said Prince Semiu Adeyemi Adeniran, Statistician-General of the Federation and NBS CEO.

The newly released data offers insights into the prices of essential food items commonly consumed by Nigerians, such as local rice, white beans, white maize, garri, yam, and more. It provides a daily snapshot of food costs.

The NBS plans to update this data on a daily basis, offering entrepreneurs, policymakers, and researchers a valuable tool for monitoring price fluctuations and making informed decisions.

The data is accessible to the public through a dedicated dashboard, where users can view, analyze, and download it in real-time—enhancing transparency and accessibility.

“To this end, the agency has implemented a range of quality control measures, including data validation and verification processes, to ensure that the data is reliable and trustworthy,” the statement added.

The release of this crowd-sourced price data underscores the NBS’s commitment to innovation and collaboration.

By working with citizens and embracing technology, the Bureau aims to provide more timely and accurate statistics to drive economic growth and development