Tag: MTN Nigeria

MTN Nigeria has reported a measurable uptick in the representation of Persons with Disabilities (PWDs) within its workforce, climbing from 0.9 per cent in 2021 to 2.13 per cent in 2025. The disclosure was made at the company’s headquarters during the commemoration of the 2025 International Day of Persons with Disabilities (IDPWD).

The event, with “Fostering Disability-Inclusive Societies for Advancing Social Progress,” served as a platform for the telecommunications giant to outline the operational realities of its diversity mandate.

Chief Human Resources Officer at MTN Nigeria, Esther Akinnukawe, situated the growth within a broader framework of structural reform rather than distinct charitable acts.

Describing the company’s diversity agenda as one of “investment and accountability,” Akinnukawe noted that the workforce gains are supported by a structured ‘reasonable accommodation’ framework.

“Our brand must speak to everyone,” Akinnukawe who was represented by GM OE&P,  Inyang Osazuwa stated, detailing capital investments in facility upgrades, including ramps, modified workspaces, and hearing loops in customer-facing centres, alongside the integration of a dedicated disability segment in the company’s customer lifecycle system.

She further highlighted the continuity of the IT Bridge Academy internship, now in its second year, designed to bridge the digital skills gap for PWDs in the wider labour market.

 Chief Broadband Officer, Egerton Idehen, who represented CEO Karl Toriola framed the company’s Beyond Barriers plan as a sustainability imperative necessary to serve a market segment often overlooked by corporate Nigeria. Egerton referenced the estimated 35 million Nigerians living with visible or invisible disabilities, arguing that their exclusion represents a significant economic loss.

“Inclusion is essential for innovation, growth, and national development,” Egerton noted.

The forum moved beyond metrics to address the nuances of corporate culture. Dolapo Agbede, a Diversity, Equity, and Inclusion (DEI) expert, delivered a keynote dissecting the United Nations Convention on the Rights of Persons with Disabilities (UNCRPD). Agbede challenged the private sector to transition from viewing inclusion as a “nice-to-do” CSR activity to a “right-to-do” governance standard.

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The dialogue was further deepened by Lagos State Chairman of the Albinism Association of Nigeria, Tolani Ojuri, who led a session on the myths and workplace stigmas surrounding albinism, calling for specific policy reforms to protect employees with the condition. This narrative was actively driven by host David Ubon, who substantiated the call for inclusion with personal claims, asserting that reasonable accommodations, such as the visual aids that allowed him to become the “best in the class” during primary school—are often the only difference between exclusion and having “no competition” in performance.”

Validating the company’s internal culture claims, David Orinya, an MTN staff member, offered a perspective on the operational environment. “My difference is not a barrier here, it is a unique perspective,” Orinya told the audience.

MTN’s leadership concluded the session by reaffirming its commitment to the Beyond Barriers roadmap, signaling that the push for accessibility, in both digital infrastructure and physical workspaces, will remain a core pillar of its 2025 corporate strategy.

MTN Nigeria at the weekend urged collaboration to overcome the risk aversion that has been pulling back the development of the startup ecosystem in the country.

Chief Strategy and Investment Officer, MTN Nigeria, Babalola Oyeleye, who spoke during a panel discussion at MTN Cloud Accelerator Demo Day and Investor Mixer of 20 innovative startups, the first cohort of the Cloud Accelerator Program, at Lagos Continental Hotel, said a lot of money is going to fintechs, adding however, that Nigeria start-ups are rising to the occasion by solving local problems with innovative solutions.

He said there is need for collaboration among the development agencies, corporations and founders, stressing that initiatives such as the MTN Cloud Accelerator programme is one way of overcoming the risk aversion.

According to him, the telco has over 180 partners on a transactional level, stressing the need for work with startups to co-create solutions for the industry that will endure.

Also speaking virtually, Victor Asemota, said there are exciting trends in the startup ecosystem. He said he has been a partner with MTN over the past two decades, also calling for collaboration as the telco evolves. He said telcos should be buying companies through mergers and acquisition (M&A) instead of buying products, an option he said is not attractive to corporates because of the risk aversion. He said MTN is well positioned to explore the M&A option for growth.

He called for more corporate participation so that more global brands could emerge from the country, adding that regulatory cover remained a major challenge to startups on the continent.

The high point of the ceremony was the presentation of N5million non-equity cheques to all the participants of the first cohort of the programme.

The 12-week hybrid accelerator, backed by N100 million in grants, brought together some of Africa’s most promising startups across fintech, healthtech, agritech, edtech, and cleantech. These startups have demonstrated exceptional potential to scale across the continent by leveraging MTN’s infrastructure, APIs, and strategic partnerships.

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Chief Enterprise Business Officer at MTN Nigeria, Lynda Saint-Nwafor, said the launch of the accelerator programme is the beginning of a bold new chapter in Africa’s digital transformation story.

 “It all began with a dream: to build a world-class data centre and launch MTN Cloud, a solution designed to deliver on world-class capabilities without the usual barriers. Building on that momentum, we made a promise: to create an Accelerator Program that would empower African startups to scale, thrive, and lead globally. And today, we have delivered. For too long, our continent has been described as ’emerging.’ But what we see are markets already bursting with innovation, resilience, and grit. What African entrepreneurs lack is not ideas, but the right environment, partners, and tools to scale globally. And that is exactly what this program provides,” she had said.

Among the Accelerator Program startups are DoktorConnect, led by Joseph Olowe, shifting healthcare from reactive to preventive using FDA-certified IoT devices; and MYITURA, founded by Shina Arogundade, which is building integrated digital health ecosystems across Africa. In fintech, Regxta, led by Bello Rukayat, is targeting 600 million underserved Africans through AI-powered digital banking, while Creditchek, (Kingsley Ibe), is developing machine learning tools for credit assessment and fraud prevention.

The other companies and their leaders are Solarcorp: Oyekanmi Stephen; Hadi Finance: Bidemi Adebayo; Proconnect: EldaDavid Kehinde Samuel; PBR Life Sciences: Ayodeji Alaran; ProDevs: William (Bill) Nwogbo and Faith Dike N; PipeOps: Samuel Ogbonyomi; Uri Creative: Collins Elue and Precious Zino; Bunce: Dami Soladoye; and DebtRecuva.Africa: Peace Obule.

Others are Agrovesto: Bayo Adewoye; TrashCoin: Phebe Ilesanmi; XCHANGEBOX: Abiola Jimoh; Fusion Intelligence Technologies: Kolade Adewoye; Scrapays: Boluwatife Arewa; Prembly: Lanre Ogungbe, MBA; and Sproutly: Pierre Nwoke.

The MTN Cloud Accelerator offers a robust support system, deep integration with MTN’s APIs and cloud infrastructure, access to Africa’s largest telecom network, one-on-one mentorship from industry leaders, go-to-market support, and investor pitch opportunities.

A 300-level student at Bayero University, Kano, has become the sixth university student to win a car worth N35 million in MTN Nigeria’s ongoing campus activation series.

Ramatu Yakubu of the Faculty of Agriculture won the grand prize at the conclusion of a three-day event that also distributed millions of naira in laptops, tablets, and cash to students.

This focus on both giving big prizes and helping student careers is part of a larger plan.

MTN’s Manager for the Youth section, Femi Adesina, stressed the company’s commitment, saying: “No amount is too much to build a well-rounded Nigerian youth.”

To help students with their studies, MTN also offered special, very low-cost data deals, including night plans starting at just seventy-five naira.

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These were specifically designed for students who need to stay up late doing research or creating online content.

Yakubu’s win came at the end of the three-day event featuring live performances, gaming competitions, and entrepreneurship exhibitions. She joins five other students from universities across Nigeria who have won similar prizes during the nationwide campus tour this year, including recent winners at the University of Abuja, FUTO, UNIBEN, MOAUM, and FUNAAB.

“We are not just here to talk to them, but to walk with them, support them, and empower them to be their best selves,” said Femi Adesina, MTN Nigeria’s Youth Segment Manager.

The company declined to disclose total investment in the programme but stated that substantial resources have been committed since its relaunch in 2022 after a pandemic-induced suspension.

MTN has partnered with TECNO for device financing plans, LG for electronic prizes, and its fintech subsidiary MoMo for mobile financial solutions.

The campus tour continues with more universities scheduled for activation before year-end.

MTN Nigeria said it has positioned itself as the frontline partner in achieving the Federal Government’s broadband goals with its active data user base now at 51.1 million, a 12.8 per cent increase.

This growth was directly linked to the company’s aggressive leadership in 4G/5G deployment and the accelerated rollout of its Fibre-to-the-Home (FTTH) network.

The mobile network operator (MNO) also said it has solidified its position as a leading corporate social investor, committing and dedicating over N32.23 billion to national priorities through its Foundation.

 The investment is strategically deployed across key sectors, primarily youth empowerment, digital inclusion, and national development, reflecting the company’s core strategy of creating shared value.

Commenting on the data milestone, the telco said: “We are proud to be the first telco to achieve over 82 per cent coverage in 4G, and the first to roll out 5H in Nigeria, already reaching an estimated 15 million of the population and counting.”

It said its drive for connectivity is backed by significant capital spending. The capital expenditure (capex), excluding leases, soared by 248.0 per cent to N757.4 billion. This investment is strategically directed at capacity enhancement to reduce congestion and to deliver ultra-fast broadband to households through FTTH.

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Demand for data remains robust, driving a 36.3per cent YoY increase in data traffic, with average usage per subscriber rising by 20.8per cent to 13.2GB. The home broadband base expanded to 4 million subscribers, with 281,000 added in Q3 alone, reflecting the growing demand for high-speed connectivity.

The company’s ability to sustain investment is supported by its financial strength, which saw a major swing to a N750.2 billion profit after tax. Furthermore, MTN has committed to national infrastructure development by advancing the rehabilitation of the 110-kilometre Enugu-Onitsha Expressway under the RITC scheme.

This dedication to infrastructure underpins the wider goal of digital inclusion. Chief Corporate Services & Sustainability Officer at MTN Nigeria, said: “We are committed to ensuring that we provide through these platforms access at the fingertips of every Nigerian. Oh yes, we truly believe that everyone deserves the benefits of a modern connected life.”

On the N32.23 billion investment to national priorities, it said the cash funds critical initiatives such as the MTN Skills Academy and the provision of STEM scholarships. The impact is personal and profound. Sofiya Mustapha, a visually impaired student, shared that the MTN scholarship enabled her to learn “English… data programming, and attended programming courses”. Akas Ngozi, another beneficiary, expressed gratitude for the Foundation, “believing in our potential and providing a platform to pursue our dreams.”

The Foundation’s efforts are actively integrated with federal programmes. MTN continues to support the Federal Ministry of Communications, Innovation & Digital Economy’s 3 Million Technical Talent (3MTT) Programme initiative, directly aligning with the company’s vision of driving inclusive growth.

In addition to its Foundation work, MTN is contributing significantly to infrastructure. The rehabilitation of the Enugu-Onitsha Expressway under the RITC scheme is 50per cent complete, demonstrating a comprehensive commitment to supporting the nation’s growth priorities. The company’s ability to sustain this large-scale social investment is underpinned by its profitability, evidenced by the N750.2 billion PAT, and its overall fiscal responsibility, having paid over ₦6.9 trillion in taxes.

MTN Nigeria has solidified its position as a leading corporate social investor, committing and dedicating over N32.23 Billion to national priorities through its Foundation. This massive investment is strategically deployed across key sectors, primarily youth empowerment, digital inclusion, and national development, reflecting the company’s core strategy of creating shared value.
The investment funds critical initiatives like the MTN Skills Academy and the provision of STEM scholarships. The impact is personal and profound.
Sofiya Mustapha, a visually impaired student, shared that the MTN scholarship enabled her to learn “English… data programming, and attended programming courses”. Akas Ngozi, another beneficiary, expressed gratitude for the Foundation, “believing in our potential and providing a platform to pursue our dreams.”.

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The Foundation’s efforts are actively integrated with federal programmes. MTN continues to support the Federal Ministry of Communications, Innovation & Digital Economy’s 3 Million Technical Talent (3MTT) Programme initiative, directly aligning with the company’s vision of driving inclusive growth.

In addition to its Foundation work, MTN is contributing significantly to infrastructure. The rehabilitation of the Enugu-Onitsha Expressway under the RITC scheme is 50 per cent complete, demonstrating a comprehensive commitment to supporting the nation’s growth priorities. The company’s ability to sustain this large-scale social investment is underpinned by its profitability, evidenced by the N750.2 billion PAT, and its overall fiscal responsibility, having paid over N6.9 Trillion in taxes.

After days of online conversations and speculation, MTN Nigeria has unveiled its much-anticipated Festive campaign, YelloTide, a nationwide celebration aimed at spreading joy, kindness, and connection across the country.

The campaign officially kicks off this week, following a three-day teaser that had Nigerians across social media guessing what MTN had up its sleeve. Now, the wait is over.

According to the brand, the initiative will unfold in three major phases designed to light up the festive season with colour, community engagements, and giving spirit.

Activities begin with Y’ello Santa, a three-day activation held from Thursday, November 13 to Saturday, November 15, 2025, in six key cities: Lagos, Port Harcourt, Abuja, Enugu, Kano, and Ibadan. Each stop will feature surprise appearances, and special giveaways, turning everyday spaces into pockets of celebration.

Chief Marketing Officer, MTN Nigeria, Onyinye Ikenna-Emeka said: “This season, we want to bring the smiles back. We want people to remember what it feels like to come together, celebrate each other, and share happiness. From city centres to small communities, we’re taking the celebration to where Nigerians are.”

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The campaign will run through the festive period into early 2026, combining physical activations, digital engagement via the MTN portal – yellotide.mtn.ng, and heartfelt community moments.

With millions of Nigerians already interacting online and city-wide celebrations set to begin, MTN’s festive campaign is shaping up to be one of the most unifying and memorable projects of the season.

Chief Operating Officer of MTN Nigeria, Ayham Moussa has identified partnership as a key element in bolstering Africa’s digital future.

He spoke during a panel discussion on: “The Big Push for Infrastructure and Next-Gen Connectivity,” at the inaugural GITEX Africa Lagos Edition, an event for technology and innovation on the continent.

The panel, featuring industry stakeholders delved into the critical need for robust infrastructure and advanced connectivity solutions to unlock Africa’s full digital potential.

The discussion highlighted the rapid pace of digital transformation across Africa and the imperative for concurrent investment in the underlying infrastructure.  Moussa shared the significant strides being made and the challenges that remain. “We are at a pivotal moment in Africa’s digital journey. The demand for connectivity is skyrocketing, and we, as industry leaders, have a collective responsibility to ensure that this demand is met with resilient, scalable, and accessible infrastructure. Our focus at MTN is not just about expanding networks; it’s about building the foundational highways for digital inclusion and economic growth across the continent,” Moussa said.

Moussa elaborated on MTN’s strategic investments in fibre optics, 5G technology, and rural connectivity initiatives, emphasising the company’s commitment to bridging the digital divide. He also stressed the importance of public-private partnerships in accelerating infrastructure development. “No single entity can achieve this alone. Collaboration between governments, regulators, and private sector players is paramount to creating an enabling environment for innovation and widespread access to next-gen connectivity,” Moussa added.

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Other panellists, Director, Product Development and PreSales, Space42, Martin Kaufmann; Eghosa Urhogide, Managing Director & CEO, Edo State ICTA, and Oluwasayo Oshadami, Director, Solutions Architect, at Equinix West Africa, reinforced Moussa’s sentiments, offering insights into the evolving landscape of enterprise connectivity and the critical role of data centers and cloud infrastructure.

The panel concluded with a resounding call to action for continued investment, strategic partnerships, and forward-thinking policies to ensure that Africa not only keeps pace with global digital advancements but also leads in creating innovative solutions tailored to its unique context. The discussions at GITEX Africa Lagos Edition reaffirmed the continent’s commitment to harnessing technology as a catalyst for sustainable development and inclusive growth.

MTN Nigeria has now awarded a total value of N579 million to 3,121 customers in its ongoing Mega Billion Promo. The 90-day promo, which kicked off on June 23, has continued to gain momentum across the country. The initiative offers customers the chance to win life-changing prizes, including grand cash rewards and smaller daily prizes, simply by recharging their lines.

Speaking on the impact of the promo, MTN Nigeria’s Chief Executive Officer, Dr. Karl Toriola said: “We understand the evolving needs of our customers. The MTN Mega Billion Promo is our way of giving back, providing tangible value, and demonstrating our unwavering commitment to their financial well-being. We remain customer-first in everything we do.”

For many beneficiaries, these winnings have gone beyond personal gain, helping to cover family needs, invest in small businesses, and access essential services. Participation spans both urban and rural areas, reflecting MTN’s stated goal of making the promo inclusive and accessible.

One such beneficiary is a young woman, named Deborah Obuhoro, who won ₦5 million on her birthday. “Growing up has been very difficult for me, taking care of myself, my siblings, my family. I’ve never even had a million naira in my account. Now I’m five million naira rich. It’s like a dream come true,” she said.

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According to MTN Nigeria’s Chief Marketing Officer, Onyinye Ikenna-Emeka, the use of MoMo Payment Service Bank (MoMo PSB) for disbursements has enabled broader participation and access. “The MTN Mega Billion Promo is more than a reward scheme. It is a strategic initiative to empower customers through MoMo PSB. By leveraging MoMo for prize disbursements, we are not only facilitating winnings, but we are also driving broader financial inclusion,” she said.

The promo aims to produce 195 millionaires and a total of 5,460 winners within 90 days. Rewards range from daily cash prizes to a N5 million jackpot on weekdays and aN10 million jackpot in the ‘Saturday Mega Draw,’ creating a weekly climax of excitement

To join the promo, customers simply dial *900# to opt in, and recharge with as low as 100 naira. The Mega Billion Promo aligns with MTN’s broader mission to empower Nigerians and create opportunities that reach beyond connectivity. MTN is reinforcing its role as more than just a telecommunications provider, it is positioning itself as a partner in progress for millions of Nigerians.

Telecom giant, MTN Nigeria, has reported a 54.6 per cent growth in its service revenue posting to N2.4 trillion in the first half of this year, according to its financial results the period ended June 30, 2025 and released yesterday.

The carrier also asaid its subscribers increased by 6.7 per cent to hit 84.7 million, properly cementing its dominance of the market.

While its active data users increased by 11.8per cent to 51.0 million, its earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by 119.5per cent to N1.2 trillion with EBITDA margin increasing by 15.0pp to 50.6per cent.

Its profit after tax (PAT) stood at N414.9 billion (H1 2024: negative N519.1 billion) while earnings per share of N19.8 kobo (H1 2024: negative N24.7 kobo).

Its capital expenditure or Capex, excluding leases, increased by 288.4per cent to N565.7 billion as the telco accelerated investments during the period under review while its free cash flow (FCF) of N409.8 billion, up 18.0per cent.

Commenting on the performance of the company, its CEO, Dr Karl Toriola, expressed delight at the progress made during the period under review.

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“We are excited by the progress made in the first half of 2025, reflecting the successful execution of the strategic priorities we previously communicated to the market. Building on the momentum from the first quarter, we delivered strong growth in service revenue for the period under review.

“This was driven by robust demand for our services, proactive customer value management and price adjustments, mainly in Q2. In reinforcing this growth, we accelerated investment in our network to enhance capacity, coverage and quality of experience.

“We also continued to execute efficiency initiatives to further accelerate the recovery of our profitability. In light of the strong momentum in our business, we have upgraded our FY 2025 and medium-term guidance (refer to pages 3 and 9 of the report) and we remain firmly on track to restore our balance sheet to a positive net asset position by the end of Q3,” Toriola said.

According to him, the macroeconomic conditions in the country showed notable improvements in the period under review, including a relatively stable naira, improved foreign exchange (forex) liquidity and easing inflationary pressures.

The Central Bank of Nigeria (CBN) maintained the Monetary Policy Rate (MPR) at 27.5per cent to anchor inflation expectations, contributing to a moderation in the headline inflation to 22.2per cent in June 2025. The naira held steady, closing the period at N1,530/US$ (December 2024: N1,535/US$). This backdrop helped to enable our improved business performance and set a more supportive context for increased long-term investments.

“On the regulatory front, an industry directive was implemented in Q1 to restrict third- party agents to a single SIM registration per customer, except for agents identified as strategic partners. Although this measure may temporarily slow the growth rate of gross connections, it is aimed at improving the overall quality of SIM registrations, which will be positive for the industry’s overall growth and sustainability,” he noted.

He said the company maintained strong commercial momentum in H1 2025 through disciplined execution, targeted customer engagement and network investments. “Our mobile subscribers rose to 84.7 million, with a net addition of 3.8 million in H1; despite the impact of the new SIM registration regulations introduced in Q1. As we increase our effort to add more strategic agents, we anticipate an easing of this headwind as we move forward. Active data users rose by 3.3 million in H1 to approximately 51 million, driving a 41.2per cent YoY increase in data traffic.

“During the period, we completed the phased implementation of the new price adjustments across voice and data bundles, largely benefiting Q2. Pleasingly, the demand for our services remained resilient, which supported strong service revenue growth in the period.

“As part of our strategy to expand capacity and meet the growing demand for our services, we launched the first phase of our $240 million Dabengwa Tier 3 Data Centre in July 2025. This multi-stage data centre project is a world-class facility that will become the largest of its kind in West Africa. It will deliver industry-leading standards of scalability, reliability and security. It will enable businesses to digitize operations, drive innovation and scale efficiently.

“We received the Nigerian Communications Commission’s (NCC) approval for a national roaming agreement with Emerging Markets Telecommunications Services Ltd (9Mobile). This agreement aligns with our Ambition 2025 strategy and underscores our commitment to industry collaboration and sustainability, in support of the NCC’s vision of a fully connected Nigeria and deepening market inclusion. In this context, we have begun the process of onboarding mobile virtual network operators (MVNOs) onto our network.

“We are committed to executing our fintech growth strategy. After recalibrating our strategy earlier this year, we are encouraged by the positive trends observed in the second quarter and the renewed momentum in the broader ecosystem. During this quarter, we added approximately 562,000 customers, bringing our active wallets to 2.7 million.

“We are expanding advanced services and improving the quality of our fintech ecosystem. We have attracted a higher number of high-value users, leveraging our partner network, which has helped to spur sustained growth in customer deposits, which rose by nearly fivefold by June 2025, compared to December 2024,” Totiola said.

On its sustained profitability and financial position recovery, he noted that the telco achieved robust and broad-based revenue growth across voice, data, digital, and fintech segments.

“Service revenue increased by 54.6per cent YoY, supported by strong demand and the full effect of the price adjustments. Cost pressures were mitigated through the revised IHS tower lease agreement, relative naira stability and sustained progress in our underlying expense efficiency initiatives. As a result, EBITDA rose by 119.5per cent to N1.2 trillion, with the EBITDA margin expanding by 15.0pp to 50.6per cent (Q2 2025: up 21.8pp to 53.8per cent).

“We reported a PAT of N414.9 billion, marking a strong recovery from the loss after tax of N519.1 billion recorded in the prior year. This turnaround reflects the successful delivery of the five strategic priorities outlined at the Extraordinary General Meeting (EGM) held on 30 April 2024 to address the negative shareholders’ funds.

“Consequently, our retained earnings improved to negative N192.9 billion (December 2024: negative N607.5 billion) and shareholders’ equity to negative N42.5 billion (December 2024: negative N458.0 billion). This positive trajectory reinforces the meaningful progress towards restoring a positive net asset position by the end of Q3.

“We achieved a positive free cash flow of N409.8 billion, up 18.0per cent, demonstrating disciplined capital allocation and strong cash generation as the impact of the tariff increase is realised. We anticipate a moderation in our capex profile in H2 to align with our full-year objective, which should support a stronger free cash flow recovery in the second half,” Totiola said.

As part of our efforts to build sustainable societies, he said the company has committed N3 billion to support the Federal Ministry of Communications, Innovation & Digital Economy’s 3 Million Technical Talent (3MTT) Programme – an initiative that aligns with our vision of driving inclusive growth through digital and financial inclusion. “By investing in digital skills development at scale, particularly for young Nigerian talents, we are helping to bridge the opportunity gap, nurture local innovation and build a resilient, future-ready workforce for Nigeria.

“We also launched an accelerator programme to empower high-potential African startups with funding, mentorship, and access to our tech infrastructure. Our goal is to build Africa’s future through cloud-powered innovation, helping bold, disruptive startups scale their impact. With N100 million in grants, technical integration and long-term support, we aim to be the platform where African innovation meets opportunity,” he said.

Toriola said telco is expected to sustain strong operational and financial growth momentum in the second half of 2025, supported by a more stable macroeconomic and regulatory environment, continued demand for our services, the benefit of recent price adjustments and network investments.

“Given the strong momentum in our business performance, we have revised up our FY 25 guidance and now target service revenue growth of ‘at least low-50%’ and EBITDA margin of ‘at least low-50per cent’. With our strong operational momentum and continued focus on efficiencies, we are on track to restore positive retained earnings and net asset positions by the end of Q3 2025. Following the H1 acceleration of our capex deployment, we expect this to moderate in the second half, in line with our FY 2025 objective, and help drive a stronger FCF trajectory in H2.

“In terms of our medium-term guidance (from 2026 onwards), we target average service revenue growth of ‘at least low-20per cent’ and EBITDA margin in the 53-55per cent range based on current economic assumptions and no price adjustments. As MTN Nigeria, we remain focused on executing on our growth strategy to deliver long-term value to our stakeholders,” he said.

Reviewing the performance, he said service revenue grew by 54.6per cent, reflecting the continued resilience in demand for services and disciplined commercial execution, bolstered by price adjustments. This performance was underpinned by broad-based momentum across voice, data, fintech and digital services, all of which delivered strong double-digit growth.

Data revenue rose by 69.2per cent, supported by active user base growth, higher data traffic and price adjustments. Underpinning this growth is the ongoing investment in network capacity to accommodate increased traffic and enhance user experience, as well as higher smartphone penetration. Data traffic grew by 41.2per cent, while the average usage per subscriber increased by 26.3per cent YoY to 13.2GB.

“We added approximately 3.7 million smartphones to the network in H1, raising smartphone penetration to 62.6per cent, up 4.3pp from December 2024. 4G population coverage remained stable at 82.4per cent, as efforts continued to focus on capacity enhancement to reduce congestion in the network.

“Our home broadband segment continues to gain momentum with approximately 501k subscribers added in H1, bringing the broadband base to 3.7 million. This underscores the growing relevance of our fixed wireless and fibre solutions in addressing the rising demand for reliable, high-speed connectivity in Nigerian households.

“Voice revenue increased by 40.3 per cent, driven by a growing subscriber base, price adjustments, and the continued focus on customer value management initiatives.

“These factors helped sustain momentum in the voice segment despite an industry- wide directive limiting third-party agents to one SIM registration per customer, which slowed gross additions during the period.

“The enterprise business recorded a 39.7per cent increase in revenue, supported by growth in fixed connectivity, data services, and converged solutions. Building on the launch of our new Tier III Dabengwa Data Centre, we are expanding our enterprise offerings with MTN Cloud – an innovation platform designed to fuel the growth of high-potential African startups. This initiative aligns with our ambition to drive inclusive innovation, create new revenue streams, and deepen our role as a trusted digital partner for businesses across sectors, accelerating their digital transformation,” he said.