Lagos, Nigeria – MTN Nigeria is one strong quarter away from fully recovering N192.9 billion in retained losses caused by 2023–2024’s naira crisis, as its data-driven rebound gains momentum.
The Turnaround Blueprint
H1 2025 Results:
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N622B pre-tax profit (vs. N607B retained loss in Dec 2024)
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69% surge in data revenue (N1.23T) – now 50% of total income
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Net FX losses down 99% (N887B → N5.2B year-on-year)
Projection: If Q3 mirrors H1’s N183.7B quarterly profit, MTN could exit loss territory by September.
How MTN Did It
Data Goldmine: 42M+ users driving N4T annual revenue run rate
Cost Cutting: Renegotiated tower leases, slashed infrastructure spend
FX Stability: Naira’s calm lets MTN breathe after $1.3B 2024 forex hit
“We’re rebuilding equity while investing in growth,” MTN’s outlook statement noted, citing 5G expansion and rural network upgrades.
Risks Remain
Shareholders’ equity still negative (-N42.5B)
Regulatory hurdles: SIM/NIN rules may slow subscriber growth
