FY 2024 loss after tax of ₦400.44 billion (2023: ₦137.02 billion loss), largely due to FX revaluation losses.
Source: https://doclib.ngxgroup.com/Financial_NewsDocs/43206_MTN_NIGERIA_COMMUNICATIONS_PLC-_QUARTER_5_-_FINANCIAL_STATEMENT_FOR_2024_FINANCIAL_STATEMENTS_FEBRUARY_2025.pdf
Service revenue growth FY 2024: ≈ 35.9% (₦3.3 trillion). EBITDA up 9.2% to ~₦1.3 trillion. EBITDA margin fell to ~39.1%.
Source: https://businessday.ng/companies/article/heres-what-to-know-as-mtnn-reports-n400-4bn-fy24-loss/
In Q3 2024, MTN renegotiated tower lease contracts, saving ₦54 billion opex by September and free cash flow of ~₦45 billion.
Source: https://doclib.ngxgroup.com/Financial_NewsDocs/42547_MTN_NIGERIA_COMMUNICATIONS_PLC-MTN_NIGERIA_EARNINGS_RELEASE_Q3_2024_CORPORATE_ACTIONS_OCTOBER_2024.pdf
MTN Nigeria is committing about US$625 million in 2025 to upgrade its network infrastructure and expand capacity nationwide. This was disclosed by CEO Karl Toriola. Source: https://techafricanews.com/2025/09/09/mtn-nigeria-commits-625-million-to-network-expansion-in-2025/
MTN Nigeria plans to invest ₦1 trillion in 2025 to boost network quality, expand service, and improve customer experience amid economic challenges. Source: https://businessday.ng/companies/article/mtn-is-investing-n1trn-in-2025-to-boost-network-quality-karl-toriola/
MTN Nigeria will spend US$664 million in 2025 on network expansion under the leadership of Karl Toriola, focusing on enhancing 4G coverage, upgrading service capacity, and improving quality of service metrics. Source: https://www.billionaires.africa/2025/09/10/mtn-nigeria-664-million-network-expansion/
Nigeria’s telecoms sector is under strain from power crises, fibre cuts, and rising operational costs. MTN Nigeria (and other operators) reported that up to 20-30% of their total expenses are tied to powering base stations, and about 70% of network downtime is related to energy shortages. Source: https://extensia.tech/nigerias-telecoms-buckles-under-power-crisis/
MTN pushed for regional integration in telecom at GITEX Nigeria, advocating for reduced roaming charges, data harmonization across borders, and regulatory alignment to help lower costs for consumers and operators. Source:https://nannews.ng/2025/09/05/gitex-2025-mtn-pushes-for-regional-integration-in-telecommunications/