MTN Nigeria has returned to profitability in a dramatic turnaround year, posting ₦5.2 trillion in service revenue for the year ended December 31, 2025.
The figure represents a 55.1 per cent increase year-on-year. The growth was largely driven by a 74.5 per cent surge in data revenue.
After recording a ₦400.4 billion loss in 2024 due to foreign exchange shocks, the telecom giant rebounded strongly. It reported a ₦1.1 trillion profit after tax in 2025. Earnings per share also improved significantly, rising from negative ₦19.05 to ₦53.07.
The result signals a full restoration of profitability. The company has rebuilt retained earnings and resumed dividend payments.
The board proposed a final dividend of ₦15 per share. This adds to a ₦5 interim dividend already paid, bringing total dividends for the year to ₦20 per share. For shareholders who endured last year’s losses, the payout reflects renewed financial stability.
Data remained the primary engine of recovery. Data revenue climbed to ₦2.78 trillion during the year.
Active data users increased to 53.2 million. Average monthly data usage rose to 13.1GB per user.
Smartphone penetration also reached 66.1 per cent. This highlights the growing reliance on mobile internet for streaming, fintech services, remote work, and digital commerce.
To support rising demand, MTN doubled its capital expenditure to ₦1 trillion. Investments were channelled into expanding 4G coverage to 84.6 per cent of the population, strengthening fibre infrastructure, and developing a new data centre.
Beyond connectivity, fintech operations are emerging as a key revenue pillar.
Fintech revenue jumped 79.7 per cent year-on-year. Active MoMo wallets rose by 30.8 per cent to 3.7 million users. Customer deposits also increased significantly, strengthening float income.
The company also began monetising its Dabengwa Data Centre and onboarding customers to its MTN Cloud marketplace. Analysts say this positions MTN as more than a telecom operator, but increasingly as a digital infrastructure provider.
Macroeconomic conditions provided additional support.
The naira stabilised at ₦1,436 per dollar at year-end, while inflation moderated compared to 2024 levels. MTN recorded a ₦90.3 billion net foreign exchange gain in 2025, a sharp contrast to the ₦925.4 billion FX loss posted the previous year.
By reducing foreign currency exposure and settling outstanding obligations, the company strengthened its balance sheet and reduced vulnerability to currency volatility.
Heading into 2026, MTN Nigeria appears steadier and better positioned for sustainable growth, powered by data expansion, fintech innovation, and disciplined financial management.
