MTN Nigeria Communications Plc grew its revenue to ₦5.20 trillion in 2025, driven largely by the 50 per cent tariff adjustment approved by the Nigerian Communications Commission (NCC), Pinnacle Daily can report.
A review of MTN Nigeria’s 2025 audited financial report shows that the tariff increase implemented across its service offerings was a primary driver of its 55 per cent revenue growth, with total earnings rising by ₦1.84 trillion from ₦3.36 trillion in 2024 to ₦5.20 trillion in 2025.
The impact was most pronounced in MTN’s core revenue lines as data revenue surged by 74.6 per cent to ₦2.78 trillion in 2025 from ₦1.59 trillion in 2024.
This was supported by the tariff adjustment and sustained demand for mobile data, fixed broadband and data bundles.
Similarly, voice revenue rose by 49.5 per cent to ₦1.65 trillion from ₦1.10 trillion in the previous year.
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Pinnacle Daily reports that the NCC had, on January 20, 2025, approved a 50 per cent tariff increase for telecommunications companies (Telcos) as telephone subscribers in Nigeria have to pay more for data and airtime.
According to the Commission, it acted in pursuance of Section 108 of the Nigerian Communications Act, 2003 (NCA), to regulate and approve tariff rates and charges by telecommunications operators.
“These adjustments will remain within the tariff bands stipulated in the 2013 NCC Cost Study, and requests will be reviewed on a case-by-case basis, as is the Commission’s standard practice for tariff reviews. It will be implemented in strict adherence to the recently issued NCC Guidance on Tariff Simplification, 2024.
“Tariff rates have remained static since 2013, despite the increasing costs of operation faced by telecom operators,” the NCC said at the time.
In the 2025 audited results, MTN Nigeria described the tariff approval as a significant milestone that helped mitigate prevailing economic challenges and ensured the long-term sustainability of the business.
A further analysis of the results indicates that the higher revenue is also expected to accelerate the recovery and utilisation of deferred tax assets, further strengthening the company’s financial position.
Other key factors behind the turnaround
In the review year, MTN Nigeria posted a profit after tax of ₦1.11 trillion in 2025, compared to a restated loss after tax of ₦400.44 billion in 2024.
Beyond the tariff impact, the performance was supported by a reversal in foreign exchange pressures.
The company moved from a net foreign exchange loss of ₦925.36 billion in 2024 to a net foreign exchange gain of ₦90.27 billion in 2025, aided by a relatively stable exchange rate that appreciated from ₦1,535 at the end of 2024 to ₦1,435.76 by December 31, 2025.
Its operating profit climbed 167 per cent to ₦2.08 trillion, reflecting improved working capital management, easing average inflation and enhanced cost efficiencies.
Also, MTN’s strategic infrastructure agreements, including new spectrum leases and a three-year national roaming arrangement with T2 Mobile Limited (formerly 9Mobile), strengthened its network capacity in a cost-efficient manner.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
