MTN Nigeria Posts ₦5.20trn Revenue in FY 2025, Rebounds to ₦1.11trn Profit After 2024 Loss

MTN Nigeria has delivered a landmark financial performance in its Audited Full-Year 2025 Results, posting a record ₦5.20 trillion revenue and a dramatic rebound to ₦1.11 trillion profit after tax, reversing the heavy losses recorded in 2024.
The telecommunications giant grew revenue by 54 per cent year-on-year, crossing the ₦5 trillion threshold for the first time in its corporate history, reinforcing its dominance in Nigeria’s telecom and digital services sector.
Data Powers Revenue Growth
Data services remained the backbone of MTN’s earnings, generating ₦2.78 trillion, representing approximately 53 per cent of total revenue. Analysts attribute the strong growth to rising broadband penetration, enterprise connectivity demand, and increased digital consumption nationwide.
Voice revenue also remained resilient at ₦1.65 trillion, while diversification efforts continued to gain momentum:
Value Added Services (VAS): ₦190.6 billion
Digital Services: ₦99.6 billion
The performance underscores the company’s strategic expansion beyond traditional telecom offerings into fintech and digital ecosystems.
Operating Efficiency Hits Record Levels
MTN Nigeria’s operational metrics reflected significant improvement:
Operating Profit: Surged 167 per cent to ₦2.08 trillion
Operating Margin: Expanded to 40 per cent from 23 per cent in 2024
The margin expansion points to improved cost discipline, pricing optimization, and operational efficiency despite macroeconomic pressures.
From ₦400bn Loss to ₦1.11trn Profit
The most striking highlight of the results is the return to profitability:
Profit Before Tax: ₦1.70 trillion
Profit After Tax: ₦1.11 trillion
This marks a sharp recovery from the ₦400 billion net loss recorded in 2024, restoring financial stability and investor confidence.
Net equity was also rebuilt to ₦548.7 billion, reversing the negative ₦458 billion position of the previous year. Consequently, the Group delivered an exceptional Return on Equity (ROE) of 202 per cent.
₦20 Dividend Boost for Shareholders
The Board proposed a final dividend of ₦15.00 per share, bringing total dividend for 2025 to ₦20.00 per share, including the ₦5.00 interim dividend already paid.
Experts Weigh In
Reacting to the results, economist Celestine Ukpong described the performance as “a textbook example of corporate resilience in a volatile macroeconomic environment.”
According to Ukpong, MTN’s rebound signals more than internal efficiency.
“Crossing ₦5 trillion in revenue and returning to strong profitability demonstrates the structural importance of telecoms to Nigeria’s GDP. Data has clearly become the new oil in terms of revenue generation. This performance also reflects pricing reforms, improved cost management, and the growing digitalization of the Nigerian economy,” he said.
He added that the 202 per cent ROE, while impressive, should be interpreted within the context of equity restoration from a previously negative position.
Financial analyst and chartered accountant Peter Adebayo, FCA, also praised the results, particularly the balance sheet recovery.
“Moving from negative equity to ₦548.7 billion within one financial year is significant. It shows strong earnings quality and disciplined capital management. Investors will be especially pleased with the dividend payout of ₦20 per share, which signals confidence in cash flow sustainability,” Adebayo noted.
However, he cautioned that sustaining 40 per cent operating margins would require continued investment in infrastructure and regulatory stability.
Strategic Outlook
With revenue growth anchored on data expansion, improving margins, restored equity, and strong shareholder returns, MTN Nigeria appears firmly positioned for sustained leadership in Nigeria’s telecom and digital economy.
Industry watchers say the 2025 results may mark a defining chapter in the company’s evolution — not merely as a telecom operator, but as a fully integrated digital services powerhouse.
MTN Nigeria posts ₦5.20trn revenue in FY 2025, rebounds to ₦1.11trn profit from 2024 loss. Experts Celestine Ukpong and Peter Adebayo, FCA, hail turnaround and ₦20 dividend payout.
MTN Nigeria records ₦5.20 trillion revenue and ₦1.11 trillion profit after tax in FY 2025, reversing prior losses. Experts Celestine Ukpong and Peter Adebayo, FCA, commend the telecom giant’s equity restoration and ₦20 dividend declaration.