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MTN Nigeria reports a significant financial rebound with surge in subscribers
The Star
|May 02, 2025
MTN Nigeria Communications has reported a substantial increase in its subscriber base and an financial turn-around for the quarter ending March 31.
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The mobile network operator and biggest subsidiary of JSE-listed MTN Group added 3.2 million new subscribers, boosting its total subscriber count by 8.2% to reach 84.1 million ina period marked by economic challenges.
Once jeopardised by macro-economic policy shifts that led to the naira's substantial depreciation, MTN Nigeria’s latest results reveal a robust recovery. Ina stark contrast to a taxed loss of N392.7 billion during the same period last year, the company announced a prokt of N133.7bn, reflecting an ability to adapt and thrive amidst economic turbulence.
“We reported a significant turnaround in our bottom line. This reflects the successful delivery of the five strategic priorities we committed to at the Extraordinary General Meeting on April 30, 2024,” said CEO Karl Toriola.
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