Tag: MTN Nigeria

Tech firm, MTN Nigeria, said it is committed to powering Africa’s innovators to create, scale and redefine industries with the products.

Its Chief Enterprise Business Officer, Lynda Saint-Nwafor, said through MTN Cloud Accelerator program, it will keep powering the continent’s startup ecosystem which already brimming with innovation as the numbers show.

Nigeria, Egypt, and Kenya are leading the way in terms of startup numbers. Nigeria reportedly has over 3,360 startups.

Egypt and Kenya are also significant hubs, with approximately 2,112 and 1,000 startups respectively.

From breakthrough fintech platforms to transformative health tech solutions, founders across the continent are reimagining industries and solving deeply rooted challenges. But while energy and ambition are undeniable, many of these ventures hit a ceiling when it comes to scaling their solutions for mass adoption.

Speaking on the MTN Cloud Accelerator, she said: “This is a platform for Africa’s innovators to create, scale, and redefine industries. We are giving founders access to world-class infrastructure and mentorship because we believe in their power to transform communities and economies.”

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MTN Cloud Accelerator is a bold 12-week programme created to propel African startups into their next phase of growth. Designed for growth-stage companies with live products or MVPs, the accelerator provides a unique opportunity for founders to leverage MTN’s extensive ecosystem, global partnerships, and cutting-edge cloud infrastructure to scale faster and more sustainably.

Applications for the programme opened on July 7, 2025, and selected startups will join a cohort designed to address Africa’s unique challenges across fintech, healthcare, agriculture, education, cybersecurity, and more. Over twelve weeks, these founders will receive mentorship from some of the most experienced minds in Africa’s tech landscape, access to funding opportunities, and technical integrations into MTN’s platforms.

By the end of the programme, participants will have refined their go-to-market strategies, scaled their user base, and positioned their businesses for long-term growth in a rapidly digitising economy.

As Africa’s largest telecoms and technology company, MTN understands the role local infrastructure plays in unlocking innovation. The Cloud Accelerator underscores this belief and sets the stage for a future where African startups not only survive but thrive on the global stage.

Applications close on August 15, 2025. Founders ready to take their innovations further can visit www.mtnaccelerate.com to apply.

Chief Executive Officer, MTN Nigeria Communications Plc, Dr Karl Toriola has emphasised the importance of digital skills adoption and curriculum reform in order to unlock global and domestic opportunities.

He spoke in Ibadan, Oyo State at the 11th Public Lecture of the Sigma Club, University of Ibadan, Ibadan,

Speaking on the theme, Leveraging Technology & Digital Education for Mass Employment, Wealth Creation and Poverty Alleviation, Toriola said technology and education can drive large-scale transformation by unlocking access to both global and local job markets. He explained that digital tools enable entrepreneurship, remote work, and access to essential services, especially in underserved areas.

He pointed out several barriers: the infrastructure deficit caused by high deployment costs, poor electricity, and insecurity in rural areas; digital literacy and education gaps; gender and regional disparities; outdated or inconsistent government policies and weak public-private coordination.

Referencing a story about a high-achieving Nigerian doctor, he said, “I saw an article a few days ago about a Nigerian medical student or doctor that qualified simultaneously in [different] specializations of medicine. It’s incredible what some of our people are doing. Our youths are ready. Our systems must be ready too.”

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Among his recommendations, Toriola called for expanded digital infrastructure, changes to school curricula, stronger public-private partnerships, and programs designed with gender and cultural awareness in mind. “We must make education employable,” he said. “We have to create the opportunities for students to practice what they are learning with institutions, private-sector institutions that are using those skills of the future.”

Toriola also emphasized that while automation and robotics dominate conversations about the digital economy, there is still significant opportunity in content creation, manufacturing, and agriculture. “Huge opportunities exist in Nigeria. We need to provide the environment for the Nigerian youth to thrive by driving connectivity, changing the curricula to allow our students to acquire the skills that are required in the job market of today.”

He closed with a message of encouragement, saying, “It does not matter however you start. Where you get to at the end of the day is a product of how dedicated, focused and hardworking you are. Never give up. Nigerians have an immeasurable capacity to deliver if given the right opportunities.”

Earlier, Hon. Folajimi Oyekunle, Deputy Chief of Staff to the Oyo State Governor, delivered the welcome address on behalf of Governor Seyi Makinde. He noted that the lecture’s theme was timely and aligned with the administration’s focus on innovation and inclusive development. Citing initiatives such as the Waste to Wealth program, which created 12,000 direct jobs, and the recruitment of 21,000 teachers, he highlighted efforts to improve employment outcomes in the state. He also mentioned that the state’s internally generated revenue had risen to 8.5 billion in the first quarter of 2025, compared to a pre-2019 average of 1.6 billion.

 “The government so far has worked in line with all stakeholders to create an enabling environment for job creation, which gives our graduates the opportunity to be employed in government work. As a government, we continue to support and encourage wealth in the state and also to support programs like this, which in one way or the other, gives back to their school,” he said.

Other dignitaries present at the event included the Alaafin of Oyo, Oba Abimbola Owoade; Dr. Gani Adeniran, retired lecturer from the University of Ibadan’s Faculty of Veterinary Medicine, who served as Father of the Day; and Professor Gabriel Ogunmola, Chancellor of Lead City University, Ibadan.

MTN Nigeria yesterday held the opening ceremony for the 2025 edition of 21 Days of Y’ello Care, the company’s annual employee volunteerism initiative.

This year’s campaign, has: “Connecting at the Roots – Connecting Communities through Digital Tools,” will run from June 1 to June 21, 2025, and focuses on supporting communities that continue to face barriers to digital access and connectivity. MTN Nigeria kicked off on Sunday June 1 with training across different locations in Lagos where staff of the company volunteered to deliver training in valuable areas such as digital marketing and personal branding and employability skills.

In line with the Group-wide campaign theme, MTN Nigeria is implementing a series of grassroots initiatives aimed at expanding digital inclusion and connectivity in underserved areas. Planned activities include equipping schools and community youth centres with devices, digital literacy workshops, deployment of community Wi-Fi access points, support for digital entrepreneurship and the establishment of an all-in-one Y’ello Pods across the country that will provide a digital hub for learning and support financial inclusion.

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Speaking at the opening ceremony held in Lagos, Chief Executive Officer, MTN Nigeria,  Karl Toriola,  said: Y’ello Care matters to us because we’re a digital company and we’re operating in an environment where there are so many needs. At MTN Nigeria, we care, and we want to show our direct connection and responsibility to the communities we operate in.

Now in its 18th year, Y’ello Care is a groupwide flagship MTN employee volunteering initiative that encourages MTNers to volunteer their time and expertise to support positive social change. The campaign reflects MTN’s purpose to enable the benefits of a modern connected life for everyone and is anchored in the company’s core values.

In 2024, in a remarkable demonstration of corporate volunteerism, MTN staff, through the Y’ello Care initiative, reconstructed a school block at Iwerekun Community High School, Lakowe. This effort has restored hope and significantly improved learning conditions for both students and teachers.

Leading carrier, MTN Nigeria said it has invested N202.4 billion, a 159per cent increase year-on-year, to upgrade and expand network infrastructure, enhancing service quality and capacity.

According to its unaudited results for first quarter (Q1) ended 31 March 2025 released yesterday, the telco also said its total subscribers increased by 8.2per cent to 84.1 million, adding 3.2 million subscribers during the period under review.

The telco said active data users rose by 13.0per cent to 50.3 million, adding 2.6 million active users during the period under review.

Its CEO, Karl Toriola, said the telco received regulatory approval for price adjustments, a critical enabler to sustain ongoing investment in the industry and maintain the quality of service for customers. He said this has empowered us to accelerate network investments with N202.4 billion in capex (up 159per cent), focused on boosting capacity and improving user experience. He said: “We are pleased with our performance in the first quarter of 2025, which reflects the continued execution of our strategic priorities and the resilience of demand for our services. Building on the momentum from Q4 2024, our Q1 results place us firmly on the path to restoring profitability and achieving a positive net asset position within the current financial year, while increasing our investments to improve network and service quality.”

According to Toriola, although macroeconomic uncertainties persist, the telco is encouraged by the relative stability of the naira during the period and the moderation in inflation following the rebasing of the Consumer Price Index (CPI) in January 2025. The exchange rate remained relatively stable at N1,537/US$ at the end of March 2025, while reported inflation was 24.2%.

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“We also continued to explore efficiency-enhancing opportunities through infrastructure-sharing partnerships. A key milestone was the agreement between MTN Group and Airtel Africa to collaborate on passive infrastructure in Nigeria, enabling accelerated coverage and driving network cost efficiencies.

“Our commercial performance remained strong, supported by sustained investment in network capacity, solid demand, and proactive customer value management (CVM) initiatives. In Q1, we added 3.2 million new subscribers, bringing our total base to 84.1 million. During the same period, active data users rose by 2.6 million, increasing the base to 50.3 million and contributing to a 46.4per cent YoY growth in data traffic. This growth was supported by our disciplined approach to gross connections and churn management, as well as continuous innovation in customer value propositions.

“We commenced phased implementation of the new tariff structure in mid-February 2025 across our data and voice bundles, with the majority of adjustments taking effect in March. “While the full impact on usage and revenue is expected from Q2, early indicators suggest continued resilience in customer demand, aided by our targeted CVM initiatives,” he said.

He said the telco’s fintech strategy recalibration was well-advanced during the quarter, with a deliberate focus on enhancing the quality of the ecosystem. Although this led to a 25.7per cent decline in our active wallet base to 2.1 million compared to December 2024, it enabled us to onboard more high-value customers and improve float levels, thereby enhancing the overall health and sustainability of the ecosystem.

“As part of our long-term ambition to drive financial inclusion, we are launching a rural penetration strategy aimed at expanding access to financial services for underserved and financially excluded communities. We remain committed to improving the quality and engagement of our wallet base, while accelerating the development of advanced fintech services; these efforts are aligned with our strategic objective to build a more robust, inclusive, and scalable digital financial ecosystem,” he explained.

He said the telco’s strong commercial momentum drove broad-based revenue growth across core segments, including data, voice, digital services and fintech. Service revenue grew by 40.5per cent, supported by the late-quarter tariff adjustments.

Cost pressures were mitigated by the revised IHS tower lease agreement, which reduced foreign exchange (forex) exposure and capped price increases, as well as improved underlying expense efficiency initiatives.

“As a result, EBITDA increased by 65.9per cent, and the EBITDA margin expanded by 7.2pp to 46.6per cent, which aligns with our guidance. Notably, the stability in the exchange rate in Q1 versus December 2024 helped reduce forex losses.

“Overall, we reported a significant turnaround in our bottom line, with a profit after tax of N133.7 billion versus a loss of N392.7 billion in the prior year. This performance reflects the successful delivery of the five strategic priorities we committed to at the Extraordinary General Meeting (EGM) held on 30 April 2024. As a result, our retained earnings improved to negative N474.1 billion (December 2024: negative N607.5 billion) and shareholders’ equity to negative N324.6 billion (December 2024: negative N458.0 billion). We also delivered a positive free cash flow of N209.9 billion, representing a decrease of 54.8per cent, mainly due to the accelerated capex in Q1 and the elevated prior-year FCF base, due to larger naira depreciation and accrual build-up in that period. We expect a progressive recovery in FCF as the full impact of the tariff increase is realised.

“We remain focused on executing our Ambition 2025 strategy, accelerating network investment, deepening digital and financial inclusion, and restoring shareholder value in a challenging but improving macro environment. We will continue to execute with discipline, agility, and a focus on sustainable growth,” Toriola said.

Reviewing the telco’s performance the CEO said service revenue grew by 40.5per cent, reflecting the continued resilience in ‘demand for our services and disciplined commercial execution. We are pleased with this strong performance, which has yet to reflect the full effects of price adjustments implemented toward the end of the quarter.

“Data revenue rose by 51.5per cent, driven by active user base growth and higher data consumption. This benefited from some further support from the price adjustments and our ongoing network investments to enhance service quality. Data traffic increased by 46.4per cent, while average usage per subscriber grew by 29.5per cent to 12.8GB.

“We added approximately 4.0 million smartphones onto the network during the quarter, bringing smartphone penetration to 60.7per cent, underscoring rising demand for high-speed data services. Our 4G network coverage expanded to 82.7per cent of the population (up 0.2pp), while 5G coverage remained stable at 12.7per cent, as we prioritised enhancing capacity over broadening coverage during the period.

“We maintained market leadership in the home broadband segment, adding approximately 233k new subscribers in Q1 and bringing our total broadband subscriber base to 3.5 million. We leveraged our 5G fixed wireless access and fibre-to-the-home offerings, which enable reliable connectivity to meet the evolving digital needs of households and businesses. These efforts align with our commitment to expanding broadband access and accelerating digital inclusion across Nigeria.

“Our focused strategy on subscriber acquisition, retention, and usage continued to support top-line growth in voice, in terms of which revenue increased by 27.7per cent, bolstered by price adjustments and sustained usage trends.

“The enterprise business recorded a 55.2per cent increase in revenue, supported by growth in fixed connectivity, data services, and converged solutions. We continued to benefit from new customer acquisitions and strategic partnerships that enhanced our enterprise value proposition and scale.

“Our digital services business delivered robust growth of 92.1per cent, underpinned by increased demand for rich media content and enhancements to the user journey. While monthly active users of rich media services (excluding ayoba) declined by 19.4per cent to 7.9 million compared to December 2024, due to platform optimisation initiatives, overall engagement levels improved. This led to strong revenue growth across both rich media and value-added services (VAS),” Toriola said.

 He said fintech revenue increased by 57.9per cent, primarily driven by the strong performance of our airtime lending product (Xtratime) and higher float income, supported by the onboarding of high-value customers. The revamp of our customer acquisition strategy, which commenced in Q3 2024, allowed the company to further optimise its incentives and customer engagement framework to strengthen qualitative performance, deepen service penetration, and enhance performance monitoring across the sales and distribution channels.

“Consequently, we observed a decrease in active wallets (down 25.7per cent), while agents and merchants increased by 47.7per cent and 23.6per cent, respectively, compared to December 2024. Float holding grew by 60.3per cent compared to December 2024, indicating improved quality of our wallet base and sustained underlying demand in the ecosystem. We are now prepared to invest and intensify qualitative field acquisition efforts, particularly in rural and underserved areas, in line with our financial inclusion objectives.

“Operating expenses (opex) increased by 25.0per cent, primarily driven by the impact of naira depreciation on our lease-related costs, which account for 60–65per cent of total opex. The US-dollar component of our tower lease costs is referenced to the exchange rate on the first day of each quarter, which rose by 72.2per cent YoY, from N897.8/US$ at the beginning of Q1 2024 to N1,546.1/US$ on the first day of Q1 2025.

“This impact was partly mitigated by the renegotiated terms of tower lease contracts, which helped reduce foreign exchange exposure and capped CPI-linked escalations, as well as by the VAT exemption on the energy component of the leases in line with the new Finance Act. Additionally, ongoing cost-efficiency initiatives supported the containment of overall operating cost growth.

“As a result, EBITDA grew by 65.9per cent, and the EBITDA margin expanded by 7.2pp to 46.6per cent. Adjusting for the adverse effects of naira depreciation (estimated at 8.8pp), the underlying EBITDA margin would have been 55.4per cent, underscoring the strength of our operational fundamentals.

“Depreciation and amortisation rose by 22.1per cent, mainly due to the increased right-of-use assets stemming from the revised tower lease agreements. Net finance costs increased by 44.0%, driven by higher interest rates on borrowings, larger lease liabilities following naira depreciation, and new lease additions related to the extension and renewal of tower lease contracts.

“Encouragingly, net foreign exchange losses declined by 99.2per cent to N5.5 billion, reflecting the relative stability of the naira during the quarter—from N1,535/US$ at year-end 2024 to N1,537/US$ at the end of March 2025.

“Overall, we recorded a strong recovery in our bottom line supported by the substantial reduction in forex losses, resulting in a profit after tax of N133.7 billion compared to a loss of N392.7 billion in the prior year,” Toriola concluded.

MTN Nigeria has rebranded its fibre broadband service to FibreX, in a move to deliver next-generation internet solutions across the nation.

Formerly called MTN Fibre Broadband, FibreX embodies, the company’s commitment to providing ultra-fast, reliable, and accessible internet services, aligning seamlessly with Nigeria’s National Broadband Plan (NBP) 2020–2025. The NBP aims to achieve 70 per cent broadband penetration by 2025, ensuring minimum speeds of 25 Mbps in urban areas and 10 Mbps in rural regions.

 “The launch of FibreX reiterates our dedication to supporting Nigeria’s digital transformation journey,” said Egerton Idehen, Chief Broadband Officer, MTN Nigeria. “By enhancing our infrastructure and services, we aim to bridge the digital divide and foster inclusive growth.”

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FibreX is set to play a pivotal role in the Federal Government’s initiative to expand the nation’s fibre-optic network by an additional 90,000 kilometers, aiming to increase fibre capacity from 35,000 km to 125,000 km. FibreX promises ultra-fast and reliable internet connectivity, aiming to meet the diverse needs of Nigerians, from bustling urban centres to remote rural areas.

While the service itself retains its fibre to the home (FTTH) infrastructure, the new name embodies a more modern, relatable, and emotionally resonant brand that is positioned to lead the conversation around what premium internet should feel like.

The new name, FibreX, was adopted to create a more customer-friendly brand. The goal is to educate and excite consumers within home-passed locations (the potential number of premises within a service area that can be connected to an FTTH network) about the benefits of the product.

As Nigeria strides towards a digitally inclusive future, initiatives like FibreX are crucial in bridging the digital divide and fostering nationwide connectivity.

Telecom subscribers kicked yesterday as MTN Nigeria began the implementation of the 50 per cent adjustment in end user tariff of telecom services approved by the Nigerian Communications Commission (NCC) in January.

MTN Nigeria raised the prices of its internet plans to reflect the adjustment. The prices reviewed include a 1.8GB monthly plan for N1,500, replacing the previous 1.5GB plan priced at N1,000.

The 20GB plan has been adjusted to N7,500, up from N5,500, while the 15GB plan now costs N6,500, a rise from N4,500. Larger bundles have seen more significant increases, with the 90-day 1.5TB plan jumping from N150,000 to N240,000, and the 600GB 90-day plan increasing from N75,000 to N120,000, according to an updated price list confirmed by a source in the telco.

The source said: “Yes, we have started implementing but it is not true that we did 200per cent.”

Both the Chairman, Association of Licensed Telecom Companies of Nigeria (ALTON) and President of Association of Telecom Companies of Nigeria (ATCON) have confirmed the development.

 “Yes they have (NCC has approved) and we have commenced gradual implementation,” Gbenga Adebayo of ALTON said in a response to a WhatsApp enquiry while Tony Emeokpere of ATCON wrote:

“Actually it is the normal process (seeking approval from the NCC). It is not a new template per say. It is part of the licence requirements. You make an application and it is approved. With the new directive, they simply made fresh applications.”

 All these years, many operators have made application and did not get approvals.”

But like a red rag to a bull, the President, National Association of Telecom Subscribers (NATCOMS), Chief Deolu Ogunbanjo and President, Association of Telephone, Cable Tv and Internet Subscribers of Nigeria (ATCIS-Nigeria), Sina Bilesanmi, decried the manner of implementation.

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Ogunbajo said implementing the tariff hike now is tantamount to breaching existing understanding among stakeholders such as the Nigerian Labour Congress (NLC), the NCC and NATCOMS.

According to him, the basis of NLC’s calling off the mass action was that the MNOS, NCC and Labour would negotiate the percentage of the hike to be implemented.

“The NCC told MNOs to wait till the end of this month for negotiations to be concluded on the percentage of the increase. That was the agreement with Labour,” Ogunbanjo said in a telephone conversation.

For Bilesanmi, it is the manner in which the implementation was done. He said the MNOs ought to have notified their customers before implementing the hike so they could prepare their minds.

“As a mark of respect for their customers, they ought to have sent an SMS to inform their customers. I don’t think it will cost them anything to do that. For instance, when the network of one of them went haywires last week, the operator sent an SMS to its customers apologizing for the glitches.

“So, they should have done that. It is not enough to go their social media handles to make such an important announcement that will affect the pockets of their customers.

According to a report, an internet service provider (ISP), SWIFT Networks, has also increased its internet prices by 50 per cent across board.

Airtel and Globacom have yet to adjust their prices. However, a source at Airtel confirmed that the company had introduced a 25 kobo flat rate for all voice calls. Both Airtel and Globacom, along with other operators, are expected to implement the tariff hike later this month.

According to a telecom industry source, the adjustments took effect on Monday afternoon, impacting data and voice plans. However, some daily plans have seen slight changes in validity. For example, a 2-day plan has been reduced to 1 day, while a seven-day plan is now valid for only 6 days.

The NCC approved the 50per cent tariff hike on January 20, after over one decade of stagnated telecom end user tariff regime.

The approval came after long negotiations between the regulator and operators that argued that the existing tariffs were unsustainable and didn’t account for spiral inflation which is an outcome of fuel subsidy removal and the devaluation of the Naira.

According to the carriers, the telecom sector remained the only industry with unchanged tariffs, forcing Adebayo to raise the alarm that the telecom sector should not be used as “palliative” to cushion the impact of government policies.

On February 2, Adebayo said telcos will issue their tariffs differently and are filing, reviewing, and obtaining approvals from the NCC.

He said the tariff adjustment is essential for the survival of the telecommunications sector, stressing that the government should not rely on the sector to subsidise others.

Taking to X, several users have expressed their frustration over the development.

MTN Nigeria Communications Plc has raised about N42.2 billion new debt capital through the issuance of commercial papers (CPs).

MTN Nigeria had floated series 15 and 16 commercial paper issuance under its N250 billion commercial paper issuance programme, raising N42.20 billion through the two instruments.

A regulatory filing indicated that the 180-day and 270-day CPs were issued at yields of 27.50 per cent and 29.00 per cent respectively. The latest issuances followed the successful completion of two prior CP issuances in the last two months.

The telecommunication company stated that the net proceeds of the CPs would be applied towards short-term working capital requirements.

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Chief Executive Officer, MTN Nigeria Communications Plc, Karl Toriola, said the success of the latest issuances further underscored investor confidence in MTN Nigeria’s business model and management team.

 He said : “The CP Issuance is part of our established funding strategy and would not have been possible without the unwavering support of the investor community, as well as our advisers”.

Stanbic IBTC Capital Limited acted as the Arranger and Dealer while CardinalStone Partners Limited, Chapel Hill Denham Advisory Limited, Cordros Capital Limited, Coronation Merchant Bank Limited, FCMB Capital Markets Limited, Meristem Capital Limited, Quantum Zenith Capital & Investments Limited, and Vetiva Advisory Services Limited served as Joint Dealers on the transaction.

MTN Nigeria has achieved a major milestone by becoming the first Nigerian organisation, the first company in the telecommunications industry, and the first within MTN Group to earn the Compliance Management System (CMS) certification from the International Accreditation Service (IAS).

This globally recognised certification affirms MTN Nigeria’s commitment to maintaining world-class compliance standards across its diverse operations. It covers all management activities related to telecommunications, digital services, mobile voice and data, innovative digital platforms, wholesale distribution, fixed and mobile broadband connectivity, and advanced technology solutions for corporate and institutional clients across the nation.

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Commenting on the achievement, MTN Nigeria’s Chief Risk & Compliance Officer, Obiageli Ugboma, said: “Achieving this feat is a testament to our robust compliance framework and proactive approach to managing risks in an ever-changing digital landscape. It reinforces our promise to connect Nigerians with secure, reliable, and innovative solutions.”

The International Accreditation Service (IAS) is a globally recognised accreditation body. It accredits a wide range of organisations, including governmental entities, commercial businesses, and professional associations, based on recognised national and international standards. This ensures that IAS accreditations are both domestically and globally accepted, highlighting their credibility and relevance.