MTN Nigeria Communications Plc has made history by becoming the first company listed on the Nigerian Exchange (NGX) to cross the ₦10 trillion market capitalization mark, signaling a major win for the telecoms sector and a milestone for the Nigerian capital market.
At the close of trading, MTN’s share price rose by ₦8 to settle at ₦480, reflecting a 1.69% gain. This surge capped off months of sustained investor confidence driven by strong financial performance and aggressive network expansion.
Exceptional Stock Growth
MTN has shown remarkable resilience in a tough economic environment, posting:
- +136% year-to-date growth
- +148% in the past 12 months
- +300% over the last 5 years
In the last quarter alone, the stock gained nearly 89%, cementing its position as a top-performing asset on the NGX.
“This kind of growth is not accidental,” said Olumide Adesina, financial analyst. “It reflects a well-executed strategy backed by strong fundamentals and growing digital demand.”
Financial Strength Behind the Surge
MTN Nigeria’s H1 2025 results showcased robust performance:
- ₦414.9 billion profit after tax
- 119.5% increase in EBITDA
- 54.6% rise in service revenue
- ₦565.7 billion invested in network expansion
The company’s CEO, Dr. Karl Toriola, attributed the results to “strategic investments, improved customer management, and accelerated infrastructure rollout.”
“We remain focused on restoring our balance sheet to a strong net asset position by Q3 2025,” Toriola said, emphasizing that Lagos alone contributes 25% of MTN’s total network traffic.
Analysts Applaud Execution
Industry experts are praising MTN’s evolution from a telecom provider into a tech-enabled growth engine.
“MTN has become more than a telco—it’s now a digital services giant with a strong foothold in fintech,” said Dr. Ayo Teriba, CEO of Economic Associates. “Its performance is reshaping investor sentiment on the Exchange.”
Temi Popoola, CEO of NGX, echoed this view, stating that the milestone “represents a vote of confidence in the Nigerian market and a signal to global investors that tech-aligned companies can thrive here.”
What It Means for the Market
MTN’s record valuation sets a new benchmark for the NGX and highlights a shift toward high-growth, tech-driven stocks.
“This is a defining moment,” said Chuka Umeh, equity analyst. “It shows that with the right strategy, companies can scale and dominate—even in tough macroeconomic conditions.”
As MTN Nigeria deepens its digital and financial services footprint, investors are betting on its role in powering Nigeria’s next phase of digital and economic growth.
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