Telecom
MTN Nigeria Records N790.3b Increase in Service Revenue in Half –Year Ended 30 June 2021

MTN Nigeria Communications Plc has released its unaudited results for the half-year ended 30 June 2021, as well as plans to celebrate its 20th anniversary with numerous national impact projects.

Commenting on the results, Karl Toriola, ceo, MTN Nigeria, said: “In the first half of 2021, we made good progress strengthening the resilience of the business, managing the impact of the COVID-19 pandemic and enhancing support to our people, customers and other stakeholders.
“We extended our commitment to the Coalition Against Covid-19 (CACOVID) with an additional N3 billion contribution over a two-year period, half of which has already been paid.
“This is in support of efforts to promote the health and security of Nigerians, as we navigate our way through the pandemic; and in line with our Y’ello Hope initiatives through which we provided support to our broad base of stakeholders to the value of approximately N25 billion in 2020.
“Our progress towards achieving greater business resilience is reflected in the upgrade by Global Credit Ratings (GCR) of our national scale long-term issuer rating to AAA and affirmation of our national scale short-term rating of A1+ with a stable outlook.
“This puts MTN Nigeria on the highest possible GCR scale for short-term andlong-term ratings, providing asolid platform for growth.
2021 marks the 20th anniversary of MTN’s presence in Nigeria. As we celebrate this milestone, we are pleased to announce that our Board of Directors has approved our participation in the Road Infrastructure Tax Credit (RITC) Scheme.
“This is in response to Government’s drive towards public-private partnerships in the rehabilitation of critical road infrastructure in Nigeria.
“We intend to participate in the restoration and refurbishment of the Enugu-Onitsha Expressway.
“Conversations in this regard have already commenced, and further announcements will be made in due course.
“In line with our desire to plant deeper and more permanent roots in Nigeria, we have also initiated plans to commission a purpose-built, state of the art MTN Head Office, designed to act as a central hub for our network, a catalyst for creativity and innovation, and a showcase for the flexible working structures that are driving efficiency gains in this new normal working environment.
“Aligned with our wider commitment to environmental sustainability, it will meet the highest global environmental standards, demonstrating the role of green technology in our future.
“Following MTN Group’s stated intention to sell down up to 14% of its investment in MTN Nigeria, subject to market conditions over the medium-term, MTN Nigeria’s shareholders approved an equity shelf programme at the last Annual General Meeting.
“This will facilitate a process to increase ownership of the Company by more Nigerian retail and institutional investors.
“Alongside this, we further localised our predominantly Nigerian management team with the appointment of Nigerians to two key senior positions (Chief Marketing Officer and Chief Information Officer) previously held by expatriates.
:MTN Nigeria continues to invest in improved world class services and its network, accelerating the expansion of our 4G coverage and providing home broadband. As part of our rural connectivity programme,
“we plan to connect approximately 1,000 rural communities to our network this year with additional 2,000 communities in 2022. We are delighted that these are translating into strong operational performance in line with the objectives of Ambition 2025.
“In the next 3 years, we will invest over N600 billion to expand broadband access across the country in support of Government’s Broadband Plan”.
He further said, “Operationally, our mobile subscribers closed H1 at 68.9 million, down 9.9% from December 2020.
“This was due to the regulatory restrictions on new SIM sales and activations, which was lifted on 19 April 2021.
“Although the initial run-rate of additions has been slower than usual due to new process requirements, we anticipate growth to normalise in the short-term as more of our acquisition centres are certified for SIM registration.
“Finally, our Board of Directors has approved an interim dividend of N4.55 kobo per share to be paid out of distributable net income. This represents a growth of 30% over N3.50 kobo per share paid in H1 2020.”
Operational Review
Service revenue grew by 24.1% YoY, driven by the sustained growth in data and also partly due to the lower base in comparative 2020 voice revenue that resulted from lockdowns during that period.
Voice revenue grew by 13.1%, benefitting from an 11.8% increase in traffic and our customer value management (CVM) initiatives.
The impact on voice revenue from the industry-wide suspension of new SIM registration was partly offset by higher usage in our active SIM base as well as migration to a higher quality of experience.
Data revenue continued the positive momentum from H2 2020, rising by 48.3%. This was driven by increased usage from the existing base, supported by the accelerationin our 4G rollout and enhanced network capacity following the acquisition and activation of additional 800MHz spectrum in Q1.
Data traffic rose by 83.0% YoY, while smartphone penetration was up by 5.8pp to 49.3%. Our 4G network now covers 65.1% of the population, up from 60.1% in December 2020.
Fintech revenue rose by 48.2%, driven by increased adoption of Xtratime and our core fintech services. We continue to expand our MoMo agent network and broaden our service offerings. Our registered MoMo agents increased by 121,000in H1 2021 to more than 515,000. Transaction volumeincreased by 280.8% YoY to 55.6 million in H1 2021, and our active subscriber base is now more than 6.1 million, up 180.0% YoY.
Our digital business continued to gain traction on the back of our strong partner ecosystem and the uptake of our products and services. Digital revenue rose by 61.8%, also supported by our rich media and value-added services. Our active user base rose by 38.0% to over 3.9 million, led by Ayoba – our instant messaging platform – with more than 2.3 million active users.
The enterprise business revenue increased by 6.0%, demonstrating the continued recovery from the impact of the COVID-19 lockdown and the uptake of our services by the businesses we serve. We have made significant progress in concluding the operational modalities for the new pricing framework for USSD services, which incorporates the recovery of outstanding USSD debts.
We continue to pursue and realise efficiency through cost discipline and enhanced digitisation. However, due to an accelerated site rollout, the effects of Naira depreciation on lease rental costs and Covid-19 related expenditure, operating expenses increased by 24.6%.
Our continued ability to drive operating leveragehelped to drive EBITDA growth to 27.6%, with a1.4pp expansion in our EBITDA margin to 52.7%.
Capital expenditure in the period was 39.1% higher to N186.4 billion, as we continued to invest in our network to maintain service quality and aggressively expand our footprint in terms of 4G and rural coverage. We recorded a healthy free cash flow of N230.8 billion, up by 19.6%.
Despite a 50.6% increase in core capex excluding right of use assets to N114.5 billion, capex intensity remained within target levels at 14.5%. Depreciation and amortisation rose by 17.1% and net finance costwas down by 9.8%, resulting from a lower average cost of borrowings. Overall, we recorded a PBT growth of 54.1%, also reflecting the softer base of H1 2020.
New SIM Registration Requirement
We are actively supporting the Government’s NIN enrolment programme with more than380 points of enrolment active across the country. We are working with National Identity Management Commission (NIMC) to complete bulk verification of the National Identity Numbers (NINs) collected and increase the enrolment centres to provide an access point for as many Nigerian as possible.
To this end, we have acquired over 40,000 enrolment devices, which are being configured for this purpose. As of 26 July 2021, approximately 37 million subscribers have submitted their NINs, representing around 54% of our subscriber base and 65% of service revenue. The deadline for NIN verification has been extended to 31 October 2021.
Outlook
To enable us to continue to take advantage of emerging opportunities, we have refined our strategy. The new strategy called Ambition 2025 is closely aligned with that of MTN Group and is built on four key strategic priorities: build the largest and most valuable platforms, drive industry-leading connectivity operations, create shared value and accelerate portfolio transformation.
These priorities will define our focus for the next five years. Taking advantage of MTN’s existing platforms and assets, we are well-positioned to accelerate long term growth as we continue to monitor and manage the impacts of the pandemic.
We have a clear focus on sustaining double-digit service revenue growth ahead of inflation, driving 4G and rural network expansion, as well as positioning our fintech and digital businesses for accelerated growth in order to unlock their full value. In addition, we will continue to sustain our expense efficiency programme to strengthen our financial position and support margins.
In the remainder of the year, we anticipate that the base effects will partly influence our commercial and financial trends. Although the availability of foreign exchange remains a constraint, we strive to minimise its impact on the business.
We are driving a positive culture change across the organisation to enhance productivity and further improve performance. We maintain our strong focus on deeper, proactive and inclusive engagements to drive shared value for all stakeholders, while ensuring that our activities align with and contribute to the Government’s development agenda.
Finally, emerging trends indicate a steady recovery in economic activity. However, given the ongoing uncertainties presented by the new wave of the COVID-19 outbreak and the NIN registration exercise, we remain mindful of changes to the operating environment as the rest of the year unfolds.
Telecom
Airtel Africa Cuts Diesel Dependence by 9.1m Litres

Airtel Africa, a telecommunications and mobile money services provider across 14 African countries, saved 9.1 million litres of diesel during its just ended 2025/2026 financial year, as part of efforts to drive responsible growth by minimising the environmental impact of its operations.

This was achieved by reducing reliance on diesel and increasing use of lower-carbon energy sources, including the conversion of 390 infrastructure sites to on-grid power during the year, thus improving efficiency and reducing emissions.
Airtel Africa CEO, Sunil Taldar highlighted this achievement during a media roundtable held in Lusaka, Zambia, where he presented the Group’s Sustainability Scorecard and progress towards building a more sustainable, inclusive and connected Africa.
Other initiatives to reduce Airtel Africa’s environmental impact during the year included promoting the circular economy, recycling 94% of total waste generated. These form part of Airtel Africa’s broader sustainability strategy, which seeks to create long-term value by balancing business growth with environmental stewardship, digital inclusion and socio-economic development.
Mr. Taldar emphasized that responsible growth remains central to Airtel Africa’s business strategy and is reflected in the company’s ability to extend services and opportunities to millions of people across the continent while advancing sustainability goals. Airtel Africa’s network now reaches 81.9% of the population across its markets, enabling greater access to connectivity, information, education and economic opportunities for individuals and communities.
The company recorded progress in its efforts to advance financial inclusion. Airtel Money now serves 54.1 million customers through a network of 2.4 million agents, making it one of Africa’s largest digital financial services ecosystems. Notably, 44.1% of Airtel Money customers are female, demonstrating the platform’s growing role in empowering women through access to secure, affordable and convenient financial services.
Beyond connectivity and financial inclusion, Airtel Africa, through its philanthropic arm, Airtel Africa Foundation continued to drive meaningful change across communities in the continent, investing US$6.2 million in priority programmes in four strategic areas namely Financial Inclusion, Education, Environmental Sustainability and Digital Inclusion.
Through its partnership with UNICEF, 3,296 schools have been connected to the free internet access, helping to bridge the digital divide and expand access to quality education reaching over 2 million learners and 38,868 teachers, while 64 zero-rated digital learning platforms enabled more than 11 million learners to access free digital educational content.
Also, during the year, more than 30,000 young people received digital skills training, while over 250 full undergraduate STEM scholarships were awarded through the Airtel Africa Tech Fellowship programme, helping to prepare the next generation of African innovators and technology leaders.
Telecom
Microsoft Axes 4,800 Jobs as Xbox Faces Major Crisis

Microsoft has announced plans to cut about 4,800 jobs globally, representing approximately 2.1 per cent of its workforce, as part of a broader restructuring aimed at improving efficiency and competitiveness.

The layoffs include about 1,600 employees in the company’s Xbox gaming division.
The company said additional job cuts are expected later this year as it continues efforts to reposition its gaming business.
According to an internal memo from Xbox Chief Executive Officer, Asha Sharma, the restructuring is intended to “reset” the business amid increasing competition in the gaming industry.
“Our business today is not healthy,” Sharma said in the memo.
“We are operating at margins that are three to 10 times lower than comparable platform and publishing businesses.”
She attributed the challenges facing the division to rising production costs and intense competition in the gaming hardware market.
According to Sharma, the gaming industry is currently experiencing a severe hardware crisis as the cost of components used in gaming consoles continues to rise.
Xbox competes with gaming platforms such as Sony’s PlayStation and Nintendo’s Switch.
The latest layoffs form part of Microsoft’s broader strategy to streamline operations and strengthen the long-term sustainability of its gaming business.
Telecom
A New Blueprint – How Strategic Collaboration is Rewriting the Narrative on Youth Drug Abuse

By Odunayo Sanya, Executive Director, MTN Foundation
Leadership, in its truest essence, is not about the titles we hold or the executive seats we occupy; it is about the responsibility we assume for the future of our communities. According to John Maxwell, a leader is one who knows the way, shows the way and goes the way. As we commemorate World Drug Day (26 June), we are collectively confronted with a sobering reality that demands that we intentionally create the conditions for Nigerian youths to thrive.

Odunayo Sanya
This year’s global theme reminds us that the fight against substance abuse demands a collective response because its consequences extend far beyond the individual, affecting public health, economic productivity, community wellbeing, and national development.
To understand the weight of what is at stake, we must anchor our empathy in empirical truth. The United Nations Office on Drugs and Crime (UNODC) Drug Use in Nigeria Survey (2018), still one of Nigeria’s most comprehensive national assessments of substance abuse, revealed a deeply distressing reality. Nearly 14.3 million Nigerians aged 15 to 64 had used psychoactive substances. While the survey remains an important benchmark, the passage of time since its publication underscores the urgent need for more current data to guide prevention and intervention efforts. Nonetheless, the survey revealed that one in every four drug users in Nigeria was a woman, while the highest concentration of users was found among young people. This is not just a health crisis; it is an economic crisis and a systemic threat to our nation’s future leadership.
When we look at these numbers, we must refuse to see them merely as data points on a spreadsheet. Every statistic represents a vibrant mind diminished, a family fractured and a potential corporate leader or innovator sidelined. In my journey across the corporate and development sectors, I have learned that systemic challenges cannot be solved by sporadic, emotional reactions. They require structured, intelligent, sustainable, and data-informed ecosystems of change. True change requires us to transition from passive observers to active architects of sustainable interventions.
It was this profound sense of responsibility and strategic foresight that birthed the MTN Anti-Substance Abuse Programme (ASAP) in 2019. We recognised early on that the traditional approach of criminalising substance abuse without addressing the root causes – curiosity, peer pressure, lack of information and socio-economic despair – was a flawed model. ASAP was conceptualised as a multi-sectoral behaviour-change initiative designed to contribute to the reduction of first-time substance abusers in Nigeria.
This year’s World Drug Day theme “The World Drug Problem: Persisting Issues, New Challenges, Innovative Responses” is both a reminder of the complexity of the menace confronting our nation and an urgent call to action. It is clear that only innovative responses can curb the ever-evolving tactics of illicit drug networks. Beyond traditional substances, the world is witnessing a rapid increase in the production, availability and use of synthetic drugs. The commoditisation of prescription medicines has contributed to substance abuse. The inordinate use of technology as an enabler of cybernarcotics has changed the dynamics of the game.
Let me bring this closer home with some numbers. From January 2025 to May 2026, the NDLEA seized 5,305,484.88 kilograms of illicit drugs worth N1.5 trillion through 29,262 arrests. Recently, on May 16, the NDLEA busted a meth manufacturing ring in Ogun State. The scourge is no longer a distant tale: it resides with us. So, we must rise together as stakeholders in this war against substance abuse.
Over the years, the impact recorded through the ASAP initiative is a testament to the power of public-private sector partnerships. Through strategic partnerships with the NDLEA, the UNODC, the Ministry of Education, the Ministry of Health, and various non-governmental organisations, the MTN Foundation has institutionalised the anti-substance abuse advocacy. We have taken the message directly to the frontlines – our schools, motor parks, markets, and digital spaces. By building a coalition of voices, we are demystifying the stigma surrounding addiction, turning what was once whispered in shame into open and constructive community dialogues.
Our journey this year has been marked by a powerful surge of collective action. From stakeholder conferences in Enugu, Kaduna, Kwara and Abuja, to the resonant advocacy walks in tertiary institutions across Gombe, Delta, Abuja and Lagos, the response has been nothing short of extraordinary. The scale of this support – uniting associations, students, and parents alike – is a testament to the urgency and shared commitment driving this movement.
Our interventions have yielded measurable outcomes. To date, the ASAP initiative has directly impacted over 50,433 students and 1,556 teachers across public secondary schools in 32 states and the FCT, through structured anti-substance abuse capacity building initiatives, digital advocacy, peer-to-peer training, and community town halls. By empowering young people to become ambassadors themselves, we have leveraged the power of peer influence positively. We have seen firsthand that when you give a young person the right tools, accurate information, and a sense of purpose, they will choose a path of productivity over self-destruction.
True leadership, however, refuses to rest on yesterday’s laurels; it constantly asks where the next frontier of impact lies and what it requires. It is this restless pursuit of evidence-based and sustainable solutions that culminated in a historic milestone just two months ago, when the MTN Foundation, the United Nations Office on Drugs and Crime (UNODC), and the Office of the Vice President formalised a partnership to undertake Nigeria’s first nationally representative substance abuse survey among secondary school students. At a time when the most widely referenced national substance abuse data is almost a decade old and does not adequately capture the realities of in-school adolescents, this initiative seeks to provide the evidence needed to shape more targeted interventions and policy responses. The collaboration, which drew high praise from Vice President Kashim Shettima (GCON), is a powerful validation of our commitment to Nigeria’s youth and our belief that lasting solutions are built through multi-sectoral partnerships.
As a certified change practitioner, I know that for any behavioural shift to be sustainable, the intervention must be systemic, continuous, and dynamic. This year, our World Drug Day activities have been intentionally scaled up to meet the evolving landscape of substance abuse, particularly the rise of cheaper, highly lethal synthetic mixtures. Our focus this year focuses heavily on the digital ecosystem – leveraging technology to deploy accessible mental health resources, psychosocial helplines, and interactive awareness modules – because that is where our youth live, connect, and learn.
In tandem with our digital drive, this year’s ASAP calendar features high-level policy roundtables, quiz competitions, and grassroot activations across educational institutions. We are deliberately engaging policymakers to ensure that advocacy is backed by robust institutional frameworks. It is not enough to tell our children to say no to drugs; we must build a society that offers them a resounding “yes” to viable economic opportunities, mental health support, and inclusive community spaces.
The universe, as I often like to say, rewards extraordinary effort. The crisis before us is vast, but our collective capacity to innovate and heal is even greater. We cannot afford to look away or assume that this is someone else’s problem. The teenager struggling with addiction in a remote community is tied to the collective economic stability of our communities. Their failure is a leak in our national boat; their recovery is our shared victory.
As we mark World Drug Day, my call to action is to the government, corporate Nigeria, civil society organisations, and every well-meaning citizen: let us move from intent to action by investing heavily in preventive advocacy and psychosocial support structures. Let us choose to know the way, show the way, and walk the way together toward a drug-free, prosperous Nigeria.
Remember, it is everyone’s fight!
E-Financial2 days agoTokenization, Blockchain Technology will Transform Financial Institutions – IMF
General News2 days agoNIS Deploys Advanced Surveillance Masts, other Critical Infrastructure to Boost Border Security
Broadcasting2 days agoObi, NDC Presidential Candidate Faces N50Bn Defamation Claim over Alleged Podcast Remark
E-Business2 days agoWeebly Websites to Shut Down for Nigeria, 66 Other Countries from September
E-Financial2 days agoFG Denies N8 Trillion ‘Shadow Budget’, Says IMF Quoted out of Context
Telecom2 days agoNo Plans for Fresh Tariff Hike – MTN
News2 days agoWorld Bank Sounds Alarm: Low Revenue, Not Debt, Is Nigeria’s Biggest Fiscal Threat
General News2 days agoPufferPay CEO to Keynote Business Journal Fintech & Financial Inclusion Roundtable 2026

















