MTN Nigeria declares N1.7trn profit in 2025
MTN Nigeria Communications Plc has released its audited 2025 financial results for the period ended December 2025, posting a strong turnaround.
According to the report filed on NGX, the telecom giant reported a record N1.70 trillion in 2025, compared to a pre-tax loss of N550.3 billion in 2024.
The performance reflects a return to profitability following significant FX losses in the prior year and marks one of the strongest earnings recoveries in the company’s history.
In the fourth quarter, pre-tax profit rose to N569.6 billion, up 248.8per cent from N163.3 billion in Q4 2024, reflecting sustained revenue growth, margin expansion, and improved foreign exchange dynamics.
Following the impressive performance, the Board has proposed a final dividend of N15 per share, bringing the total dividend for the 2025 financial year to N20 per share.
The dividends will be paid electronically to shareholders whose names appear on the Register of Members as of 8 April 2026, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.
The Chief Executive Officer, Karl Toriola, described 2025 as a “significant turning point”, he said:
“We closed the year with positive retained earnings of N400.4 billion (December 2024: negative N607.5 billion) and shareholders’ equity of N548.7 billion (December 2024: negative N458.0 billion),” the CEO stated.
He noted that macroeconomic conditions improved during the year, with a more stable foreign exchange market and moderated inflation helping to reduce margin pressure.
The company maintained its medium-term service revenue growth target of “at least the low 20per cent” and revised its EBITDA margin guidance upward from the 53–55per cent range to the “mid to high 50per cent” range. MTN Nigeria’s 2025 performance was driven primarily by strong service revenue growth, especially in data and fintech.
Service revenue rose 55.1per cent to N5.17 trillion, with data revenue increasing 74.5% to N2.78 trillion, making it the largest contributor to total service revenue.
Growth was supported by a 34.0per cent increase in data traffic, 11.6per cent growth in active data users to 53.2 million, and smartphone penetration rising to 66.1per cent.
Voice revenue remained resilient, rising 42.1per cent to N1.85 trillion, supported by subscriber growth and customer value management initiatives.
Fintech revenue grew 79.7per cent to N191.3 billion, driven by higher interest income and expansion of advanced services, with active wallets rising to 3.7 million.
On the cost side, cost of sales rose 30.3per cent, significantly below revenue growth, while operating expenses increased 16.7per cent, reflecting efficiency gains and savings from tower lease renegotiations.
This operating leverage drove EBITDA up 108.9per cent to N2.74 trillion.
A key swing factor was foreign exchange. The company reported a net FX gain of N90.3 billion compared to a loss of N925.4 billion in 2024, following the settlement of outstanding letters of credit and reduced dollar exposure.
