MTN Nigeria has pulled off an impressive comeback, showing that its recovery is not just a flash in the pan. The telecom giant, which serves over 85.4 million subscribers across the country, reported ₦750 billion in profit within the first nine months of 2025, a complete reversal from the losses it suffered the previous year. This turnaround came through smart financial management, favorable market conditions, and strategic price adjustments that boosted both revenue and investor confidence.
Revenue surged by 57.4% to ₦3.7 trillion, driven by strong customer demand and MTN’s continued investment in its network infrastructure to improve service quality. The company’s growth cuts across multiple segments, reflecting how well it has adapted to the evolving needs of its subscribers and the broader digital economy.
MTN currently boasts 85.4 million mobile subscribers, while active data users climbed by 12.8% to reach 51.1 million within the same period. Its mobile money platform, MoMo PSB, also expanded steadily, with active wallets growing by 1.6% to 2.9 million. Free cash flow rose sharply to ₦742.6 billion, representing a 38.5% increase—a clear indicator of operational efficiency and sustained profitability.
For the first time, data revenue overtook voice revenue, becoming MTN’s largest contributor. Data earnings rose to ₦1.97 trillion, while voice brought in ₦1.34 trillion. The company recorded a 36.3% increase in data traffic, with average data use per customer up by 20.8% to 13.2GB. These gains stemmed from better customer engagement, targeted value management initiatives, and expanded network capacity fueled by higher smartphone usage across the country.
MTN’s fintech segment also showed remarkable progress. By September 2025, revenue had reached ₦131 billion, fueled by growing interest income from deposits, the rollout of advanced services, and the onboarding of high-value customers. Customer deposits shot up by 80.5% compared to December 2024, reflecting greater trust in the brand’s digital financial offerings. The company’s refreshed customer acquisition strategy helped expand its active wallet base to 2.9 million users.
MTN Nigeria’s CEO, Karl Toriola, expressed optimism about the company’s steady rebound, emphasizing that the restoration of positive retained earnings and shareholders’ equity marks a major milestone. He credited the achievement to strong operational discipline and focused execution.
As profitability strengthens, the board approved an interim dividend of ₦5 per share, a move that rewards loyal investors who held onto their stakes during the tough times of 2024, when MTN’s share prices plunged amid disappointing financial results. The dividend payout signals renewed confidence in the company’s direction and its ability to sustain growth.
Looking ahead, MTN plans to build on its strong 2025 momentum. The company aims to maintain financial discipline, diversify its revenue streams, and reinforce its balance sheet to remain resilient amid economic shifts. With these strategies in play, MTN is positioning itself to deliver on its full-year guidance and continue leading Nigeria’s telecom and digital financial landscape with renewed strength and ambition.
