MTN Nigeria: Telecom Titan – A Story of Remarkable Recovery and Growth
MTN Nigeria is the crown jewel of the Nigerian telecom industry, with a staggering market capitalization of N10.72 trillion, representing 10.8% of the All-Share Index. This impressive valuation is a testament to the company’s resilience and adaptability in a rapidly changing market. With 20.9 billion shares priced at N511 each, MTN’s market value has surged by 155.5% from 2024, when its shares were valued at N4.1 trillion.
The company’s financial performance has been nothing short of spectacular, with pre-tax profit soaring to N1.12 trillion for the nine months ended September 30, 2025. This remarkable turnaround reverses a loss of N713.6 billion in the same period the previous year, showcasing MTN’s ability to navigate challenging market conditions. Revenue has also grown impressively, reaching N3.73 trillion, driven by strong growth across multiple services.
Data revenue is a key driver of MTN’s success, with a staggering 73% year-on-year increase to N1.97 trillion, accounting for over 53% of total revenue. This growth is fueled by increasing smartphone penetration and rising data usage, as more Nigerians access digital services and online content. Voice revenue has also experienced significant growth, rising 48% to N1.19 trillion from N803.95 billion, demonstrating the company’s diversified revenue streams.
The increasing adoption of smartphones is a major factor in MTN’s success, driving data usage and fintech growth. As more Nigerians access digital services, MTN is well-positioned to capitalize on this trend, leveraging its strong presence in the market to drive growth and expansion. The company’s strategic positioning, diversified services, and improving financial performance have likely strengthened investor confidence, contributing to the rise in share price and market capitalization.
With a year-to-date growth of 13.50%, MTN Nigeria is poised to continue its upward trajectory, potentially pushing its share price above N600. The company’s strong financials, diversified services, and strategic positioning make it a compelling investment opportunity in the Nigerian telecom sector, with a bright future ahead.
