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MTN Nigeria releases unaudited results, posts 566.95bn revenue in six months

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MTN Nigeria Communications Plc has released its unaudited result for the six months ended June 30 and announced an interim dividend of N2.95 per share to its shareholders.

The company disclosed this through its unaudited results for the six months ended 30th June 2019, released on Friday in Lagos.

Commenting on the report, Ferdi Moolman, CEO, MTN Nigeria, said: “In the first half of 2019, we sustained a solid performance, delivering double-digit growth in service revenue, underpinned by growth in voice and data revenue.

“We added 3.3 million customers to our network, increasing our subscriber base to 61.5 million.
“Pleasingly we saw data subscribers increase in the period by 2.1 million to 20.7 million.

“We made significant network investments to improve network quality and expand our 4G coverage.

“Our recent work to revamp our data prices and accelerate our 4G network has put us in a strong competitive position to offer more value to our customers, supporting data and voice revenue growth which will ultimately strengthen our business.

“We are pleased with obtaining a super-agent license from the Central Bank of Nigeria, which will enable us to build an agent network and accelerate the growth of our finTech business.

“In May, MTN Nigeria was successfully listed on the Nigerian Stock Exchange (NSE), making us the first mobile network operator to list on the NSE.

“The listing demonstrates our commitment to the Nigerian market and provides local investors with an opportunity to participate in and benefit from the company’s growth prospects.

“We made changes to our Board following the retirement of six pioneer Non-Executive Directors on the expiration of their tenure and in compliance with applicable corporate governance codes.

“We express our heartfelt appreciation to our out-going Directors for their contributions to the success of the Company. We also welcome the incoming ones whose combination of extensive experience across the worlds of technology, Finance, regulatory and policy development and corporate governance offers a hugely synergistic set of skills that will be of great benefit to us as we move into a new phase of growth.

“Our Chief Financial Officer (CFO), Mr. Adekunle Awobodu has also indicated his intention to resign from the position of the CFO of the company in H2 of 2019 for Family related reasons.

“The identification of a suitable successor has reached an advanced stage to facilitate a seamless transition. To ensure continuity on certain projects, Mr Awobodu has graciously accepted to continue to support the company on consultancy basis.

 

“The Board extends its appreciation to Mr. Awobodu for his contributions to the growth of the company.

“In line with our dividend policy guidance at listing, the Board has approved a maiden interim dividend as a listed company, of N2.95 kobo per share to be paid out of distributable net income.

On the operational review, Moolman said, “MTN Nigeria delivered a solid performance, with strong voice (+11.4%) and data revenue (+31.7%) driving double-digit service revenue growth and Further improving the margin on earnings before interest, taxation, depreciation and amortization (EBITDA).

“Voice revenue growth was supported by an increase in subscribers (+5.7%), relatively stable tariffs and our Focus on pro-consumer activities. This was boosted by our targeted customer value management (CVM) initiatives.

“Data revenue growth was driven by an increased number of smartphones on the network, greater data usage and growth in the number of active data users.

 

“We added 2.5 million smartphones, increasing smartphone penetration by 2.1pp to 39.2%. Active data subscribers increased by 11.0% to 20.7 million and data traffic rose by 67% YoY.

“Our Fintech business continued to gain momentum with 21.2% growth in revenue YoY.

“The super-agent license will allow us to leverage our established distribution channels to offer a wide range of mobile Financial services. We will continue to work forwards obtaining a Payment Service Banking license that we applied For in late 2018. Digital revenue continued to be impacted by the optimisation of value-added services (VAS).

“However, our focus is to build a sustainable base of active digital users in order to boost revenue growth.

“Our enterprise business also delivered satisfactory results, with revenue increasing by 31.3% to contribute 11.9% to service revenue.

“We recorded an EBITDA margin of 53.8% on account of the implementation of IFRS 16.

“On an IAS 17 bass, operating expenses increased by 9.7%, below inflation. The 1.5pp improvement in the EBITDA margin was supported by a stable naira against the US dollar benefiting our operating expenses as well as lower digital expenses arising From our VAS optimisation initiatives.

 

“Our bottom line remained strong with 30.9% and 34.8% growth in profit before and after tax respectively, while earnings per share increased by 34.8% to 486 kobo.

On the Corporate and legal matters, he stated  “The hearing on the Attorney General of the Federation (AGF) matter, which was originally scheduled to hold on June 26, 2019 for commencement of trial on the substantive issue before the court was adjourned to October 29 and 31 2019. We remain resolute that MTN Nigeria has not committed any offence and will continue to defend this position.

“The redemption of MTN Nigeria’s Preference shares has always been envisaged as a necessary part of the simplification of our capital structure. The redemption process is underway and will be completed after necessary regulatory process.

“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.”


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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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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

Google

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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