Karl Toriola-led Mtn Nigeria Posts 658 Million Revenue In Q1 2025

MTN Nigerias Q1 2025 revenue reached 658.5 million, up 40.5, with growth driven by robust data, voice, and fintech performance.

Despite naira depreciation, MTN Nigeria posted strong profits, reducing foreign exchange losses by 99.2, and achieved a significant turnaround.

MTN Nigerias CEO Karl Toriola highlights continued growth, strategic focus, and strong financial position amid macroeconomic challenges.

MTN Nigeria, the countrys largest telecom operator, led by Karl Toriola, has posted 658.49 million in revenue for Q1 2025, marking a 40.5 percent increase compared to the previous year. The growth was fueled by robust demand across voice, data, fintech, and digital services, with particularly strong performance in its data and voice segments.

The revenue surge follows a phased tariff adjustment approved by regulators in February, with the new pricing largely coming into effect in March. Early indicators suggest that customer demand remains resilient, driven by targeted customer value management initiatives.

In its latest financial report , MTN Nigeria saw its revenue increase from N752.98 billion 468.66 million to N1.06 trillion 658.49 million for the three months ended March 31, 2024. The company's revenue growth in the first quarter of 2025 was driven by robust data consumption, sustained voice traffic, and a recalibrated fintech strategy.

The data segment remained the key driver, supported by a 46.4 percent year-on-year surge in data traffic and 2.6 million net additions in active data users. Voice services also contributed strongly, buoyed by a 3.2 million increase in total subscribers, bringing the base to 84.1 million.

Despite the strong revenue growth, MTN Nigeria faced substantial pressure from the depreciation of the naira, which drove up operating costs and net finance expenses by 44 percent. However, the company was able to mitigate foreign exchange losses, which dropped by 99.2 percent. This contributed to a profit after tax of N133.7 billion 83.22 million, a significant recovery from a loss of N392.7 billion 244.48 million in the same period last year.