MTN Nigeria Communications Plc has reported a profit after tax of N133.7 billion for the first quarter ended March 31, 2025, marking a strong recovery from a loss of N392.7 billion recorded in the same period last year.
According to the company’s financial statement released on the Nigerian Exchange Limited (NGX) on Monday, profit before tax stood at N202.55 billion, compared to a loss of N390.67 billion in Q1 2024. Revenue rose significantly to N1.06 trillion, representing a 40.5% increase from N752.96 billion in the previous year’s first quarter.
MTN Nigeria also increased its capital expenditure by 159% year-on-year, investing N202.4 billion in Q1 2025 to enhance its network infrastructure and improve service delivery.
Commenting on the results, Chief Executive Officer Karl Toriola 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, these results put us firmly on track to restore profitability and return to a positive net asset position within the year.”
Toriola acknowledged the challenging but improving macroeconomic conditions, noting a relative stabilization of the naira at N1,537/USD and moderated inflation at 24.2%, following a rebased Consumer Price Index (CPI) in January 2025.
He also highlighted the impact of recent regulatory approvals for price adjustments, which enabled MTN to intensify investments to improve capacity and customer experience. “This approval has been crucial in sustaining sector-wide investments and maintaining service quality,” he said.
MTN continued to pursue operational efficiencies through infrastructure-sharing initiatives. A major milestone was a new agreement between MTN Group and Airtel Africa to collaborate on passive infrastructure in Nigeria, aimed at accelerating network coverage and reducing costs.
Toriola concluded that the company’s strong Q1 performance reflects the effective delivery of its five strategic priorities, as outlined at its Extraordinary General Meeting on April 30, 2024.
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