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

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.”
Telecom
NIGCOMSAT Supports Startups Growth with the Launch of Accelerator 3.0

The Nigerian Communications Satellite Limited (NIGCOMSAT) has unveiled Accelerator Cohort 3.0 as part of efforts to strengthen Nigeria’s space technology ecosystem and support the growth of local startups.

The initiative will be a major highlight of the 2026 Nigerian Satellite Week scheduled to hold on March 30 and 31 in Abuja, where key players in the satellite and digital infrastructure sectors are expected to converge.
In a statement signed by Stephen Kwande, the Head of Corporate Communications, the company described the new accelerator as its most direct investment in building long-term competitiveness within Nigeria’s space economy.
According to NIGCOMSAT, the programme is designed to support early-stage ventures working across satellite applications, last-mile connectivity, agriculture, logistics and other areas where space-based technology can drive impact.
The company said previous cohorts of the accelerator had already contributed to developing innovative solutions and building the human capacity needed to position Nigeria for the next phase of the global space industry.
“With Cohort 3.0, we are making it clear that the accelerator is not a pilot project but a permanent feature of how Nigeria develops its space-tech companies,” the statement said.
NIGCOMSAT noted that the Nigerian Satellite Week has grown into a major platform for policy discussions, partnerships and investment in the sector.
The 2026 edition is expected to attract top government officials, defence leaders, development finance institutions and technology entrepreneurs from across Africa.
Jane Egerton-Idehen, managing director of NIGCOMSAT, said the event also marks two decades of Nigeria’s journey in the space economy.
“Twenty years ago, Nigeria took a bold step to secure its place in space. What we are seeing today is the result of consistent effort and vision,” she said.
She added that the company is focused on shaping the next phase of growth through innovation, partnerships and investment in local talent.
NIGCOMSAT also highlighted recent milestones, including a Low Earth Orbit connectivity partnership with Eutelsat, improved revenue performance and increased global recognition in satellite operations.
Other activities lined up for the event include a Startup Demo Day, where selected African startups will pitch their ideas to investors, and a stakeholders’ forum to discuss policies and infrastructure needed to scale Nigeria’s satellite economy.
The company said the initiative reflects the growing role of satellite technology in national development, particularly in areas such as communications, security and digital services.
NIGCOMSAT, established in 2006 and wholly owned by the Federal Government, provides satellite-based services including telecommunications, broadcasting and broadband across Nigeria and parts of Africa.
Telecom
FG Unveils Digital Economy Research Fund Scheme

The Federal Government has unveiled a N12bn Digital Economy Research Fund aimed at strengthening evidence-based policymaking and supporting Nigeria’s long-term digital transformation agenda.

Dr. Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, disclosed this in a statement issued on Saturday, announcing the launch of an expression of interest for the National Digital Economy Research Clusters.
“Today my heart is filled with deep joy as we announce the Expression of Interest for the National Digital Economy Research Clusters, a N12bn research funding scheme designed to place ideas, evidence, and research at the centre of Nigeria’s digital transformation,” the minister said.
According to him, the programme is being funded under Project BRIDGE, a federal initiative to deploy 90,000 kilometres of fibre optic backbone infrastructure across Nigeria to expand connectivity and enable a modern digital economy.
“This programme is being funded under Project BRIDGE, our initiative to deploy 90,000km of fibre optic backbone infrastructure across Nigeria to expand connectivity and enable a modern digital economy,” he said.
The minister noted that as the government expands digital infrastructure nationwide, research-backed approaches are required to ensure inclusive benefits.
“As we deepen our digital infrastructure coverage, thoughtful, evidence-based approaches are required to be deployed in society to ensure everyone benefits from this significant investment,” he added.
He observed that digital policy decisions are often shaped by market forces and political cycles rather than rigorous research and long-term thinking. “Too often, the ideas shaping digital policy come predominantly from markets and political cycles rather than from research, evidence, and long-term thinking,” the statement said.
Under the initiative, six national research clusters will be established across key pillars of the digital economy, including connectivity and meaningful use; digital public infrastructure and government services; digital skills and human capital development; digital economy and jobs; online trust and consumer protection; as well as artificial intelligence and emerging technologies.
The clusters will be led by up to 36 professors drawn from Nigerian universities, working alongside international academic partners, with more than 200 researchers, including postdoctoral fellows and PhD candidates, expected to generate policy-relevant research.
“For me, the goal goes beyond research output. We are looking for better policies that lead to stronger institutions and a more prosperous society,” the minister said.
He described the initiative as one of the ministry’s most meaningful programmes, noting that it is intended to produce ideas that will outlast any single administration. “Because nations that lead the future are not simply those that deploy infrastructure; they are the ones that cultivate ideas,” he said.
The ministry invited academic and research institutions interested in participating to review the Terms of Reference released alongside the EOI and submit proposals to lead or collaborate within the national research clusters.
It added that a press conference would be held in the coming week to provide further details and engagement opportunities for vice-chancellors and research institutions across the country.
Telecom
NCC Cracks Down: Telcos to Refund Users for Network Disruptions

Nigerian Communications Commission (NCC) has directed Mobile Network Operators (MNOs) to compensate subscribers experiencing poor network service across the country.

The Commission said the directive was part of efforts to ensure that consumers are not made to bear the burden of service failures when operators fall short of required standards.
Under the new regulation, telecom operators will be required to provide compensation directly to affected subscribers for breaches of Quality of Service (QoS) Key Performance Indicators (KPIs).
According to the NCC, the compensation will be issued in the form of airtime credits, calculated based on subscribers’ average usage and their presence within specific Local Government Areas where service disruptions occur.
The Commission emphasised that telecommunications services remain critical to economic activities, social interactions, and access to digital opportunities, noting that poor service delivery negatively impacts productivity and public confidence.
It explained that while regulatory fines have traditionally been used to sanction operators, the new approach prioritises consumer protection and strengthens accountability within the telecommunications sector.
The NCC added that the measure would complement existing efforts to monitor service quality and enforce compliance with performance standards.
In addition, the Commission directed tower companies responsible for telecom infrastructure, such as network masts, to reinvest fines imposed on them into infrastructure upgrades with measurable outcomes.
The regulator reiterated its commitment to ensuring that operators invest in network resilience, expand capacity, and improve infrastructure to meet growing demand.
It also pledged to continue deploying regulatory mechanisms that promote fairness, transparency, and accountability across the industry, while ensuring that subscribers receive the quality of service they deserve.
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