MTN Nigeria mobile subscribers hit 61.5 million


Telecommunication giant, MTN Nigeria, on Friday said its mobile subscribers’ base increased to 61.5 million in the first quarter of 2019.

Details of the development are contained in the unaudited results of the company’s first-quarter 2019 report made available to the Nigeria Stock Exchange on Friday.

The report noted that within the period under review, service revenue increased by 12.2 per cent while voice revenue also shot up by 11.4 per cent. Data revenue, the company said, increased to 31.7 per cent while Fintech also shot up by 21.2 per cent.

Meanwhile, the company’s digital revenue decreased by 64.5 per cent.

The company’s reported EBITDA grew by 40 per cent to N302.9 billion, while the EBITDA margin jumped to 53.8 per cent, up by 10.7 pp.

EBITDA refers to earnings before interest, tax, depreciation and amortization and it is a measure of a company’s operating performance. It is simply a way to evaluate a company’s performance without having to factor in financing decisions, accounting decisions or tax environments.

The company’s capital expenditure (capex) increased by 63.8 per cent to N105.8 billion within the same period.

In May, MTN successfully listed on the Nigerian capital market and became the first mobile operator to be so listed.

Commenting on the half-year result, Ferdi Moolman, MTN Nigeria Chief Executive Officer, noted that the company made a significant investment in the network to improve service quality and expand its 4G network.

“In the first half of 2019, we sustained a solid performance, delivering double-digit growth in service revenue, underpinned by growth in voice and data revenue,” the CEO said.

The MTNN boss also noted that within the period, data subscribers increased by 2.1 million to 20.7 million subscribers.


PT Mag Campaign AD

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.


TEXT AD: To advertise here . Call Willie +2347088095401...

BE THE FIRST TO KNOW! Subscribe to our newsletter

* indicates required


Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.