MTN Nigeria has recorded N1 trillion as revenue in the first quarter of this year, bolstered by the mid-February 2025 tariff increment.
Compared with the N752.9 billion recorded in Q1 2024, this represents a 40.5 percent increase in revenue year-on-year, even as the impact of the tariff adjustment has yet to be fully realized.
According to its Q1 2025 unaudited financial results just released, the company bounced back to profitability in the quarter, posting N133.7 billion profit after tax compared with the N392.7 billion loss it recorded in Q1 2024.
Meanwhile, in line with one of the conditions given by the Nigerian Communications Commission (NCC) for the approval of the 50 percent tariff increment, the company also increased its investment in network capacity, spending N202.4 billion in the first three months of the year.
This represents a 159 percent increase in CAPEX for the company when compared with the N78.1 billion it spent in the same period of 2024.
MTN added 3.2 million new subscribers in Q1, bringing its total base to 84.1 million.
During the same period, the company’s active data users rose by 2.6 million, increasing the base to 50.3 million and contributing to a 46.4 percent YoY growth in data traffic.
