By MTN Nigeria made a whooping sum of N3.7 trillion service revenue, and increase 12.8 percent while her subscriber base went up by 11.0 percent to hit 85.4 million as at the close of its financial books 30 September 2025 on the Nigerian Stock Exchange (NGX).
According to the financial records of the leading telecoms operator in Nigeria that was made available to TechnologyMirror, the yello brand also made an impressive performance in its Profit After Tax(PAT) which moved from N514.9 billion in 2024 to N750.2 billion in 2025.
The Active data users increased by 12.8% to 51.1 million, even as the EBITDA increased by 123.0% to N1.9 trillion while her earning per share continues its rising trend increasing from N24.51 kobo in 2024 to N35.77 kobo in 2025.
Commenting on the results, the MTN Nigeria Chief Executive Officer, Dr Karl Toriola: “We are pleased to report that MTN Nigeria has restored its positive retained earnings and shareholders’ equity positions.
“This is a significant milestone that demonstrates strong operational momentum and
disciplined execution. Supported by a more favourable macroeconomic environment
and price adjustments, the outcome was driven by the delivery of our strategic and
commercial initiatives, commitment to efficiency and prudent financial management.
“During the period under review, macroeconomic conditions in Nigeria improved significantly, with the naira trending stronger, improved foreign exchange liquidity, and easing inflationary pressures. The naira appreciated from N1,535/US$ in December 2024 to N1,475/US$ at the end of September 2025, while headline inflation continued to steadily abate from 34.8% in
December 2024 to 18.0% in September.
“In response, the Central Bank of Nigeria (CBN) reduced the Monetary Policy Rate by 50 basis points to 27%, signaling the start of monetary policy easing – a positive development for business activity and investor confidence.”
He noted that the MTN Nigeria’s fintech revenue rose by 72.5%, supported by higher interest income from deposits, continued growth in advanced services, and onboarding high-value customers. Customer deposits increased by 80.5% compared to December 2024.
The CEO added: “Following a comprehensive revamp of our customer acquisition strategy, active wallets expanded to 2.9 million in September 2025.
“The number of active agents grew by 73.6% and merchants by 42.6% compared to
December 2024, reflecting deliberate focus on optimising distribution quality and
building a more sustainable fintech ecosystem for long-term growth.”
According to him, through the MTN Nigeria Foundation, we invested in impactful programmes targeting youth empowerment, digital inclusion and national development stating that key initiatives that helped advance inclusive growth included the MTN Skills Academy, the AntiSubstance Abuse Programmes, and IT training for persons with disabilities.
“We also deepened our investment in education by awarding STEM (Science, Technology,
Engineering and Mathematics) scholarships and distributing over 25,000 learning
materials to public schools across seven states”, he added.
He disclosed that her debt metrics remain healthy and well within covenant thresholds, with a net debtto-EBITDA ratio of 0.1 times versus a covenant maximum of 2.5 times and an interest
cover ratio of 18.9 times versus a covenant minimum of 5 times as at 30 September
2025.
