MTN Nigeria has delivered a stunning turnaround in H1 2025, recording a net income of N414.9 billion, reversing a N519.1 billion loss from H1 2024, a 180% year-on-year improvement. This rebound was largely driven by significant reductions in FX losses.
Group revenue climbed to N2.38 trillion, a 54% increase from N1.54 trillion in H1 2024, driven by robust growth in voice, data, and value-added services (VAS). Notably, data revenue jumped from N726.6 billion to N1.23 trillion, underscoring accelerated digital service adoption.
Operating profit soared to N892.8 billion, up 193% from N304.5 billion, reflecting both revenue strength and disciplined cost control. Pre-tax profit swung to N622.3 billion, compared with a N751.3 billion loss in the prior period, a remarkable 183% turnaround.
A dramatic reduction in net foreign exchange losses was pivotal, FX losses plunged from N887.7 billion in H1 2024 to just N5.2 billion in H1 2025, effectively unlocking underlying profitability and unlocking value.
Earnings per share surged to N19.78, reversing a N24.71 per share loss. Meanwhile, net assets improved significantly, narrowing a deficit from N458 billion to N42.5 billion by 30 June 2025.
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