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MTN to Declare Loss over N330Bn Nigeria Fine

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MTN Group expects to report a full-year loss due to a $1bn regulatory fine in Nigeria and for under-performance both in Nigeria and South Africa, the company said on Wednesday.

MTN had agreed in June to pay Nigeria a N330bn ($1.05bn at the time) fine for missing a deadline to cut off unregistered SIM cards from its network.

The company predicts it will swing to a loss, for the year ended 31 December 2016, compared to HEPS of 1 204 cents and EPS of 746 cents reported in the prior financial year.

“The expected decline in the HEPS and EPS is mainly as a result of the regulatory fine imposed on MTN Nigeria following a resolution with the Federal Government of Nigeria on 10 June 2016,” the telco said in a statement to shareholders today.

The telco agreed to pay 330 billion naira (R25.1 billion at the time, R14.1 billion today) after months of negotiations with Nigerian authorities.

The original N1.04 trillion fine was slapped on MTN by the Nigerian Communication Commission in October 2015 for failing to meet a deadline to disconnect 5.1 million unregistered SIM cards in Nigeria.

The Nigerian regulatory fine is now expected to have an estimated negative impact of approximately 474 cents on HEPS and EPS for the year.  

MTN says other contributing factors to the negative HEPS and EPS were foreign exchange losses in a number of operations; losses from joint ventures and associates; additional depreciation resulting from prior hyperinflation adjustments in MTN Irancell; the Zakhele Futhi tax and share-based payment charges; and professional fees incurred in respect of the settlement of the Nigeria regulatory fine and planned listing.

MTN says the results are further expected to be negatively impacted by the under-performance of MTN Nigeria and MTN South Africa in the first half of 2016. It says the disappointing interim results from MTN SA were largely due to the poor postpaid performance.

MTN Nigeria’s first half performance was impacted by the disconnection of 4.5 million subscribers in February 2016 in compliance with the Nigerian Communications Commission subscriber registration requirements.

“The withdrawal of regulatory services, which was resolved in May 2016, the weak economy and the depreciation of the naira against the USD also negatively impacted MTN Nigeria’s performance,” the group adds.

Consolidated results in rand terms from Nigeria were also affected by the weaker naira in the second half of the year.

MTN’s share price had already fallen over 2.7% this morning on the back of the news, trading at around R114.50 per share.

MTN’s financial results for the year ended 31 December 2016 are expected to be announced on 2 March.


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Airtel Africa Foundation Opens Undergraduate Scholarship Portal in Nigeria

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The Airtel Africa Foundation has opened applications for its Undergraduate Tech Scholarship in Nigeria, inviting first-year university students with strong academic potential to apply for financial support aimed at accelerating their studies in technology and related fields.

The scheme provides full tuition, accommodation support, and essential study materials for eligible 100-level students. It forms part of the Foundation’s F.E.E.D. agenda, which promotes Financial Empowerment, Education, Environmental Protection, and Digital Inclusion, with a focus on creating pathways for talented young people who face financial barriers.

Airtel Nigeria CEO, Dinesh Balsingh, encouraged students to take advantage of the opportunity. He noted that, “Education is one of the most powerful tools for national development,” adding that “as an organisation, Airtel is determined to build a platform for aspiring young Nigerians to learn, innovate and lead in the country’s expanding technology landscape.”

Applications are open to students pursuing courses such as Information Technology, Computer Science, Software Engineering, Data Science, Cyber Security, Artificial Intelligence, and other ICT-related disciplines at participating universities: University of Lagos, University of Nigeria Nsukka, Ahmadu Bello University, University of Benin, Obafemi Awolowo University, University of Ilorin, and Tai Solarin University of Education.

Dr Segun Ogunsanya, Chairman of the Airtel Africa Foundation, said the scholarship demonstrates the organisation’s commitment to nurturing Africa’s next generation of digital leaders. “Young Africans are brimming with talent and ambition. What many need is a fair chance to pursue their education without financial pressure. This scholarship reflects our belief that investing in their growth will strengthen communities, empower families, and expand the continent’s digital future,” he said.

Applicants must be enrolled in 100-level, have scored at least 230 in JAMB, and hold a minimum of five credits in WAEC, including English and Mathematics, in a single sitting. Required documents include Joint Admissions and Matriculation Board (JAMB) results, university admission letter, West African Examination Council (WAEC) certificate, student identity card, and academic transcript or university results.

The Foundation encourages qualified students across the listed institutions to apply and position themselves for a stronger start in the technology sector. Applications can be submitted at candidate.scholastica.ng/schemes/airtelfellowship2025.

 


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YouTube Nigeria Unveils 2025’s Top Lists and Launches New YouTube Recap Feature

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YouTube Nigeria on Wednesday released its official 2025 Top Lists, celebrating the nation’s leading music videos and creators, while also unveiling a new personalized feature called YouTube Recap.

YouTube Nigeria Unveils 2025’s Top Lists and Launches New YouTube Recap Feature

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The lists highlight the explosive growth of Afrobeats, gospel, and Nollywood storytelling, underscoring Nigeria’s rising influence in global entertainment.

According to YouTube, the most-watched music video in Nigeria this year was No Turning Back II by Gaise Baba and Lawrence Oyor, followed by Shallipopi’s Laho and Davido’s With You featuring Omah Lay. Other artists on the Top 10 include Olamide, Asake, Rema, Chella, Wizkid, and Burna Boy.

On the creators’ side, Nollywood channels such as Omoni Oboli TV, Itelediconstudio, and Uchenna Mbunabo TV dominated the rankings, alongside comedy sensation Brain Jotter, who continues to attract millions of viewers with his skits.

Addy Awofisayo, YouTube’s Head of Music for Sub-Saharan Africa, said the lists reflect Nigeria’s “undeniable creative energy” and the global resonance of its artists and storytellers.

“From chart-topping music to must-watch Nollywood dramas, we’re proud that YouTube is the place where this talent can shine,” Awofisayo said.

The newly launched YouTube Recap feature offers users a personalized year-end summary of their viewing habits. It includes highlights such as top-watched channels, favorite topics, and a “Personality Type” card that categorizes viewers into one of 14 personas. It also reveals whether users rank among the top 25 per cent of fans for their favorite creators.

YouTube said the recap is accessible via a banner on the homepage of the app.

The company noted that the initiative aims to give Nigerians a fun and shareable way to celebrate the videos that defined their year


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COUCH 2025 Grand Finale Highlights Student Breakthroughs, Secures Government Pledge for University Research Commercialization

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Coderina Education and Technology Foundation, in partnership with the National Universities Commission (NUC), successfully hosted the Grand Finale of the Coderina University Challenge (COUCH) 2025 at the NUC Auditorium, Abuja.

COUCH 2025 Grand Finale Highlights Student Breakthroughs, Secures Government Pledge for University Research Commercialization

A cross section of attendees

The event gathered top government officials, university leaders, industry partners, and the ten finalist teams selected from over sixty-two initial entries nationwide.

This year’s challenge, themed “Circular Economy Through Technology spotlighted the potential of Nigerian university students to develop scalable, tech-enabled solutions that address pressing national issues in sustainability, waste management, energy transition, and the circular economy.

The Grand Finale reaffirmed a consistent message shared across all keynote addresses: Nigeria must accelerate the movement of university research from shelves into practical innovation, commercialization, and industry adoption, a key driver of national development and economic growth.

In his opening address, Mr. Olufemi Niyi, chairman, Coderina Board of Directors, emphasized that university projects must not remain buried in archives.

He highlighted COUCH as a platform proving that research can become functional innovation.

Mr. Niyi called on donors, development partners, and private sector stakeholders to support COUCH as a sustainable national innovation pipeline and encouraged investors to channel resources into skills development and technology innovation among youth.

In his keynote address, Dr. Kingsley Tochukwu, the minister of Innovation, Science and Technology, commended the COUCH programme for its role in moving research “from the shelves to the marketplace,” a key priority under the ministry’s national innovation agenda.

He noted that the initiative exemplifies the type of collaboration and commercialization pipeline needed to unlock Nigeria’s scientific and technological potential.

He highlighted several priority areas critical to advancing the country’s innovation landscape:

“Strengthening Nigeria’s innovation ecosystem through coordinated national frameworks and partnerships; expanding digital innovation pathways to accelerate the adoption of emerging technologies, and building a tech-driven economy that delivers measurable value and global competitiveness”.

The Minister added that “Creating new opportunities for youth innovators, ensuring they are empowered to participate in and drive the innovation economy, are part of the key focus areas of the Ministry

He also expressed the Ministry’s readiness to partner with COUCH, Coderina, and the NUC to incubate and scale these student-led innovations.

Mallam Abdullahi Yusuf Ribadu, the executive secretary of NUC acknowledged the twelve universities nominated for the pilot edition by the commission.

He urged the finalists to use their prize money to advance entrepreneurship and technical skill development, reinforcing the NUC’s commitment to fostering innovation-driven learning across tertiary institutions.

In a remarkable commitment, the Minister donated five million naira to ‘Waste2Light’ from FUT Minna and announced an intention to collaborate with all ten finalist universities to support commercialization.

Dr. Tope Kolade Fasua, special address to the President on Economic Affairs, stated that technology remains the largest driver of global economic growth, stressing that Nigeria’s economic transformation is intertwined with youth innovation.

He commended Coderina and advised for greater visibility and national media outreach; creation of an innovation “museum or archive” for brilliant ideas, and the establishment of centers where theories and research can be turned into products.

He concluded that the future of Nigeria’s economy lies in the hands of today’s young innovators.

Professor Sa’adatu Hassan Liman, special guest at the programme and vice-chancellor, Nasarawa State University, delivering her address on “Sustainable National Transformation,” emphasized the need for stronger industry–university collaborations.

She also emphasized need for entrepreneurial university culture; digital literacy in emerging technologies such as AI, blockchain, IoT; adoption of virtual learning and remote laboratories, and inclusive innovation for underserved communities.

She highlighted AI as a catalyst for reimagining teaching and learning, including teacher retraining and curriculum enhancement.

The competition had two categories of prizes recognizing both technical excellence and public engagement.

Winners of the first category, The Challenge, based on pitch and prototype presentation was Team IMSU –  Imo State University , taking home the star prize of ₦5,000,000; 2nd Place winners: Team Neuronaut Nile University Prize, ₦2,500,000, and 3rd Place – Team Waste2light from the Federal University of Technology, Minna: ₦1,500,000.

The People’s Choice Awards winners, based on social media engagement and public voting, are Team ADSU Innovators – Adamawa State Uni.: ₦250,000; 2nd Place -Team Scraplink, Lagos State University: ₦150,000, and 3rd place – Team Circle from the Federal University of Technology, Akure, took home ₦100,000.

Giving COUCH overview, Ms. Christiana Anthony, the Project Lead, reaffirmed that COUCH is not merely a competition but a structured innovation development program.

She highlighted the strong collaboration between Coderina and the NUC, noting that the program has created a national pathway for students to design, build, test, and pitch solutions with real potential for commercialization.

The COUCH 2025 grand finale demonstrated Nigeria’s readiness to harness university-driven innovation as a catalyst for economic growth, job creation, and sustainable development.

 


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