MTN Nigeria Plc FY 2025 – Pricing Tailwinds and FX Relief Support Earnings Rebound

Highlights

• MTN Nigeria declared a total dividend of ₦20 per share for FY 2025.
• Reported a profit after tax of ₦1.11 trillion from a loss position of ₦400.44 billion in FY 2024.
• Total Assets grew from ₦4.20 trillion in FY 2024 to ₦5.40 trillion in FY 2025,  reflecting a 29% year-on-year change.
• Shareholders Fund moved from a negative position to a positive ₦548.71 billion in FY 2025.
• Revenue increased by 55% year-on-year to ₦5.20 trillion.

Outlook

Looking ahead, MTN Nigeria appears well-positioned to sustain its earnings recovery into the next financial year, supported by the full-year impact of the 50% tariff adjustment, continued resilience in data demand, and improved operating efficiency. The Group’s FY 2025 performance suggests that its core earnings capacity has materially strengthened, particularly as the Data and Airtime/Subscription segments continue to anchor topline growth. Given the structural rise in digital consumption and telecom dependence in Nigeria, revenue growth is expected to grow. Strategic backward integrations such as the acquisition of IHS Towers puts the group in a strong position for profitability.

MTN Nigeria Plc enters the next financial period from a position of considerably greater strength, strong revenue momentum, improved profitability, and -restored value to its shareholders. WSTC Research believes MTN Nigeria Plc remains a company with strong fundamentals to be held in an investor’s portfolio.

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