{"id":5734,"date":"2026-05-15T10:34:53","date_gmt":"2026-05-15T10:34:53","guid":{"rendered":"https:\/\/stakebridgeirpr.com\/media\/?p=5734"},"modified":"2026-05-15T10:34:53","modified_gmt":"2026-05-15T10:34:53","slug":"mtn-nigeria-returns-to-profit-as-data-fx-gains-reshape-earnings","status":"publish","type":"post","link":"https:\/\/stakebridgeirpr.com\/media\/mtn-nigeria-returns-to-profit-as-data-fx-gains-reshape-earnings\/","title":{"rendered":"MTN Nigeria Returns To Profit As Data, FX Gains Reshape Earnings"},"content":{"rendered":"

By Kingsley Ani<\/strong><\/p>\n

 <\/p>\n

MTN Nigeria Communications Plc returned to profitability in 2025 with a record N1.7 trillion profit after two years of heavy foreign exchange-driven losses, as analysts linked the recovery to naira stabilisation, rising data consumption and expansion of fintech services. Recent discussions on the Market Watch Podcast<\/em> highlighted that MTN\u2019s revenue rose to N5 trillion in 2025 from about N2 trillion in 2022, while Q1 2026 revenue reached N1.5 trillion. Analysts also pointed to improving foreign exchange management and the rapid growth of MTN\u2019s mobile money platform, MoMo, as central drivers of the company\u2019s earnings rebound.<\/p>\n

DECISION HIGHLIGHT<\/strong>
\nMTN Nigeria\u2019s recovery reflects a strategic transition from traditional telecom dependency toward a diversified digital infrastructure model built around data, fintech and platform services.<\/p>\n

DECISION MEMO <\/strong>
\nMTN Nigeria\u2019s earnings rebound illustrates how foreign exchange stability and digital service expansion are increasingly redefining profitability structures within Nigeria\u2019s telecommunications sector.<\/p>\n

The company\u2019s turnaround also highlights the extent to which macroeconomic volatility, particularly exchange rate shocks, distorted corporate earnings across major Nigerian firms in 2023 and 2024 despite underlying operational growth.<\/p>\n

Financial analyst, Idika Aja, stated: \u201cThe company\u2019s foreign exchange losses amounted to N950 billion in 2024, but by 2025, MTN had turned these losses into a gain of about N99 billion. In 2025, they turned to FX gains of about N99 billion. In Q1, they have about a N33 billion gain instead of a loss,\u201d Aja added.<\/p>\n

The sharp improvement in foreign exchange positioning significantly altered MTN\u2019s earnings profile, converting what had previously been a major balance sheet drag into a profit-supporting variable.<\/p>\n

Equally important is the company\u2019s changing revenue structure. Aja noted: \u201cIn 2025, data recorded about N2.78 trillion revenue\u2026 Voice came down to 1.8 trillion.\u201d<\/p>\n

That crossover reflects a broader industry transformation in which data consumption, digital payments and platform ecosystems are gradually overtaking traditional voice services as the primary telecom growth engine.<\/p>\n

The expansion of MoMo also indicates MTN\u2019s increasing positioning as a financial infrastructure operator rather than solely a telecommunications provider.<\/p>\n

Aja stated that MTN was evolving into a \u201cone-stop shop\u201d for telecoms, data, and payments services.<\/p>\n

Analysts additionally observed that tariff increases implemented in early 2025 did not materially weaken consumer demand. Aja stated: \u201cThe tariff has gone up fine and we are coping, and that did not even drop the usage.\u201d<\/p>\n

Chief Executive Officer of Finance with Muktar, Muktar Muhammed, compared the company\u2019s trajectory to Kenya\u2019s Safaricom, highlighting that MTN\u2019s mobile money platform \u201cgrew profitability by 135% during the period.\u201d<\/p>\n

Muhammed further stated: \u201cThe shift toward data revenue and the MoMo platform has been a key factor in MTN\u2019s growth.\u201d<\/p>\n

That resilience suggests mobile connectivity, data access and digital payments are increasingly behaving like essential infrastructure services within Nigeria\u2019s economy despite rising consumer cost pressures.<\/p>\n

DATA BOX<\/strong><\/p>\n