Telecommunications giant MTN Nigeria reported service revenue of 5.2 trillion naira (US$3.4 billion) in its audited 2025 financial results, underscoring the company’s growing contribution to Nigeria’s non-oil economy and digital infrastructure development.
The company said the 2025 financial year marked a period of recovery and operational resilience, supported by improved profitability, stronger balance sheet performance and sustained investment in network expansion.
Chief Executive Officer Karl Toriola described the year as a turning point for the telecom operator, noting that a return to profitability enabled accelerated investments aimed at improving service quality and customer experience across the country.
According to the company, financial performance was closely tied to broader economic impact, with MTN Nigeria remaining one of the country’s largest corporate taxpayers. The firm said taxes and related contributions continue to support government spending on infrastructure development and social programmes.
Nigeria has increasingly relied on telecommunications and digital services to diversify economic growth away from oil dependence, with the sector emerging as one of the strongest contributors to gross domestic product in recent years.
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As part of its expansion strategy, MTN Nigeria disclosed that it invested about 1 trillion naira in capital expenditure (CAPEX) during 2025 to strengthen network capacity and coverage nationwide. The investment funded the rollout of new base stations, expansion of fibre-optic infrastructure and upgrades designed to improve connectivity for millions of subscribers.
The company said reinvesting retained earnings into infrastructure demonstrates long-term commitment to Nigeria’s digital transformation while supporting job creation across engineering, construction and technology value chains.
Management also linked the company’s improved performance to what it described as a more supportive policy environment, stating that regulatory and economic reforms have helped create conditions for businesses to stabilise operations despite macroeconomic challenges.
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Nigeria’s corporate sector has faced significant headwinds in recent years, including currency volatility, high inflation and rising operating costs. Telecommunications operators, however, have remained relatively resilient due to sustained demand for mobile data, digital payments and connectivity services.
MTN Nigeria noted that continued investment in telecommunications infrastructure remains essential to expanding financial inclusion, enabling digital commerce and supporting innovation across sectors such as education, healthcare and financial technology.
The company also highlighted its status as the most valuable listed firm on the Nigerian Exchange Limited, saying it is encouraging broader local participation in equity ownership as part of efforts to deepen domestic capital markets.
With millions of retail and institutional investors holding shares, MTN said it aims to promote local wealth creation by encouraging Nigerians, particularly young investors, to participate in the country’s growing digital economy.
Executives added that sustained capital investment strategies are expected to deliver long-term shareholder value while strengthening Nigeria’s communications backbone.
Industry analysts say the company’s strong revenue growth reflects expanding data consumption and increasing reliance on mobile connectivity across Africa’s largest economy, even as consumers adjust to economic pressures.
Looking ahead, MTN Nigeria said it remains focused on expanding network quality, improving customer experience and supporting national development priorities through continued infrastructure investment and innovation in digital services.
The results reinforce the telecommunications sector’s rising importance as a pillar of Nigeria’s economic diversification strategy, positioning digital connectivity as a key driver of growth beyond the oil industry.
