At N5.2trn, MTN Nigeria leads Dangote Cement, others as highest revenue generating company in 2025
MTN Nigeria Communications Plc in the 2025 financial year reported N5.2 trillion revenue to outshine Dangote Cement Plc, Oando Plc, among others listed companies on the Nigerian Exchange Limited (NGX).
As gathered by WESTERN POST, the telecommunication giant saw its revenue increasing by nearly 5 per cent from N3.36 trillion reported in 2024, amid hike in price of data, among others.
Dangote Cement in 2025 reported N4.31trillion revenue, about 20.3 per cent from N3.58trillion in 2024, while Seplat Energy closed 2025 with a revenue of N4.14trillion, about 150.4 per cent increase from N1.65trillion reported in 2024.
Nigeria’s macroeconomy in 2025 saw stability in foreign exchange market, followed by ease in the inflation rate.
Nigeria’s purchasing power has not fully recovered despite the easing of headline inflation to 15.15 per cent in December 2025, the Lagos Chamber of Commerce and Industry (LCCI) had said, warning that households and businesses continue to feel the lingering effects of past price shocks.
According to MTN Nigeria, its data revenue increased by 74.5per cent, making it the largest contributor to service revenue.
The company added that, “This growth was supported by an expanded active user base, increased usage and higher traffic. The number of active data subscribers grew by 11.6per cent, while smartphone penetration rose by 7.9pp to 66.1per cent, reflecting the rising demand for high-speed connectivity.
“Data traffic increased by 34per cent and average usage per subscriber rose by 20per cent to 13.1GB.
“In addition, 4G population coverage improved by 2.1pp to 84.6per cent. These results underscore the effectiveness of our accelerated network investments and our commitment to delivering a superior quality of service and user experience.
“Home broadband remains central to our data growth strategy. By prioritising fixed wireless access (FWA) and fibre-to-the-home (FTTH), we efficiently serve growing household demand while deepening our leadership in home connectivity.
“We introduced unlimited 5G and 1 Gbps FTTH plans to raise the bar on performance and value for home connectivity. FTTH remain a core investment priority as demand for high-quality home connectivity accelerates. In 2025, we added approximately 1 million users, bringing our home broadband subscriber base to 4.2 million.”
In the period under review, MTN Nigeria also reported the highest profit before tax to N1.7 trillion from N550.33billion loss before tax in 2024. MTN Nigeria in terms of revenue was followed by Dangote Cement and Seplat Energy Plc.
Dangote Cement followed MTN Nigeria in profit before tax when it announced N1.53trillion in 2025, representing an increase of 109.2 per cent growth when compared to N732.5 billion reported in 2024.
