MTN Nigeria post N1.12 trillion pre-tax profit, ends loss streak, declares first dividend in 2 years

By: Chidozie Nwali

Nigeria’s telecommunications giant announced a monumental financial turnaround on Thursday, reporting a pre-tax profit of N1.12 trillion for the nine months ended September 30, 2025. The results, fueled by aggressive revenue growth, digital service expansion, and favorable macroeconomic conditions, mark a stunning reversal from the massive losses incurred in the prior year.

MTN Nigeria Communications Plc financial report performance, has solidified its position as a market leader and triggered a major rally in its stock, culminating in the declaration of its first interim dividend in two years.

According to the report, total revenue soared by 57.41%, reaching N3.731 trillion for the nine-month period, up from N2.370 trillion in the previous year. This powerful top-line growth translated into a 203.34% increase in Operating Profit, which jumped to N1.442 trillion.

Critically, the company successfully reversed its substantial previous year’s net loss of N514.9 billion, achieving a Profit After Tax (PAT) of N750.200 billion, marking a massive 245.7% swing. This success was underpinned by significant operational efficiency.

The N750.2 billion PAT allowed MTN Nigeria to return to a positive retained earnings position and positive shareholders’ equity, fully resolving the balance sheet deficits caused by earlier macroeconomic shocks.

• Data revenue increased by a massive 73% year-on-year to N1.97 trillion, cementing its position as the largest revenue stream, now accounting for over 53% of the company’s total top line.
• Total mobile subscribers expanded by 11.0% to 85.4 million, while active data users increased by 12.8% to 51.1 million.
• The Fintech segment saw revenue climb by 72.5%, supported by continued growth in advanced services and an 80.5% increase in customer deposits compared to December 2024.
•  Despite the digital shift, Voice revenue also demonstrated strong resilience, growing by 48% year-on-year to N1.19 trillion, aided by strategic price adjustments.

The financial turnaround was significantly aided by the more stable and favorable Nigerian macroeconomic environment during the period under review.

Prior to the year’s massive foreign exchange losses, MTN Nigeria recorded a net forex gain of N55.6 billion in 9M 2025. This was in stark contrast to the N904.9 billion net loss recorded in 9M 2024.

Macroeconomic stability, characterized by the Naira appreciating from N1,535 per $ in December 2024 to N1,475/US$ by September 2025, coupled with inflation easing to 18.0% from 34.8% in December 2024 – has  drastically reduced operating costs and finance expenses.

Following the results, investor sentiment soared, with MTN Nigeria’s share price reaching a new all-time high of N520.10 on the Nigerian Exchange (NGX). The stock has surged approximately 197% year-to-date in 2025.

MTN Board of Directors approved an interim dividend of N5.00 per share on October 29, 2025, the company’s first dividend payout since 2022.

Furthermore, the company reported a significant reduction in contingent liabilities, which dropped from N3.99 billion at the end of 2024 to N1.00 billion as of September 30, 2025, reflecting the successful resolution of various legal claims in the ordinary course of business.

The company is now firmly positioned for long-term growth, with its successful navigation of Nigeria’s turbulent economic waters setting a strong foundation for future investment and expansion across its data and financial services platforms.