MTN Nigeria Plc has spent N1.63 trillion on capital investments in the last 18 months, as the telecommunications company continues to expand its network and prepare for emerging technologies.
The company’s Chief Financial Officer, Modupe Kadri, disclosed this on Monday during MTN Nigeria’s 25th anniversary celebration, which was marked with an exhibition at the company’s headquarters in Lagos.
Kadri said the company significantly increased its capital expenditure following the tariff adjustment approved by the telecommunications regulator in January 2025.
“So, over the last 18 months, we spent N1.63tn on CAPEX or capital investments,” Kadri said.
He added that MTN Nigeria had also paid more than N620 billion in taxes and levies during the period.
According to him, the company continues to meet its obligations relating to its operating licence and other regulatory requirements.
Kadri also highlighted the gains recorded by Nigerian investors since MTN Nigeria became listed on the Nigerian Exchange.
MTN Nigeria shares were listed on the Premium Board of the Nigerian capital market on May 16, 2019, through a listing by introduction, with 20.35 billion existing ordinary shares listed at N90 per share.
The company’s shares traded at N845 per share at the close of trading on the Nigerian Exchange on Monday.
Kadri said the company’s 25th anniversary should not only be about celebrating its achievements but should also serve as an opportunity to consider the possibilities ahead.
“And while today gives us every reason to be proud of the past, anniversaries should never become excesses in nostalgia. The most important question is not what we accomplished in the last 25 years.
“The most important question is what will the next 25 years make possible? Is it artificial intelligence? Internet? 5G? And technology that is emerging? If the transformation between 2001 and 2026 has been extraordinary, I believe what lies ahead can be even more profound,” he said.
The General Manager, Access Planning and Optimisation, MTN, Nasiru Hayatu, disclosed that the telecommunications company currently has more than 92 million subscribers, making it the largest telecommunications firm in Nigeria.
Hayatu explained that MTN had been able to manage the significant growth in its subscriber base through continuous network optimisation.
“Step-by-step optimisation is something that we do every year. We have tools that allow us to forecast. We have tools that allow us to look for new areas of opportunity for our architectures,” he said.
MTN Nigeria’s Chief Marketing Officer, Onyinye Ikenna-Emeka, said the company had no plans to venture into direct device sales.
She said MTN would instead continue to strengthen its partnerships with original equipment manufacturers to enable Nigerians to access the latest mobile technologies.
According to her, the company was expanding the scope of its partnerships to ensure manufacturers recognise the opportunities available across the Nigerian market.
Meanwhile, MTN Nigeria’s Chief Digital Officer, Aisha Umar-Mumuni, said the company would continue to provide engaging family-oriented content for Nigerians.
She highlighted the Next Afrobest Star, whose second edition was underway, as part of the company’s digital entertainment offerings.
During the exhibition tour, MTN Nigeria’s Chief Customer Relations and Experience Officer, Ugonwa Nwoye, took journalists through the evolution of the company and some of its major initiatives and entertainment platforms, including Project Fame and Extra Cool.
MTN Nigeria commenced commercial operations in the country in August 2001, following its historic first test call on May 16, 2001, at Maritime House in Apapa, Lagos.
The company has since grown into Nigeria’s largest telecommunications operator, with more than 92 million subscribers and significant investments across the country’s telecommunications infrastructure.
