MTN Nigeria (MTNN) has reported that it invested N1 trillion to expand fibre infrastructure, construct more base stations to enhance its network transmission capacity nationwide in 2025, despite foreign exchange pressures in the economy.
The telco’s Chief Executive Officer, Karl Toriola, who spoke on the financial and operational performances of the company, described 2025 as a remarkable year for the company, based on its the improved earnings and commitment to long-term infrastructure investment.
He explained: “During the year, we invested N1tn in network expansion and modernisation, more than double the prior year’s capital expenditure. This investment translates to additional base stations, deeper fibre rollout, expanded capacity and improved network resilience across the country because sustaining critical digital infrastructure requires disciplined capital allocation and a deliberate long-term approach.
“We are mindful that in a period of economic pressure, expectations from customers are heightened. When Nigerians purchase data or rely on our network for work, education, financial services or daily communication, they expect reliability, fairness and continuous improvement. That expectation is both legitimate and central to our responsibility, Toriola added.
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An analysis of the telco’s performance reflected that in 2025, its subscriber base increased by 7.9% to 87.3 million, active data subscribers increased to 53.2 million just as its data traffic grew by 34% based on the surging demand for digital services nationwide.
According to the company’s financial statements data from the NGX, the telco’s service revenue surged by 55.1% to N5.2 trillion in the financial year, its earnings before interest, tax, depreciation and amortisation increased to N2.7 trillion while earnings per share improved to N53.07 from -N19.05 in 2024.
Based on the improved performance, the board approved a final dividend of N15 per share, which is subject to shareholder approval at the annual general meeting (AGM), bringing the total dividend per share N20 in the financial year.
The financials further showed that the company raked in N1.2 trillion in free cash flow in 2025 and raised shareholders’ equity to N548.7 billion while the retained earnings standing at N400.4 billion at the close of the financial year..
Commenting on the financials, Toriola pointed out that profitability would continue to underpin the company’s infrastructure expansion as profit enables sustained reinvestment in network quality and broader coverage rather than serving as an end in itself.
He clarified: “Profit, in our context, is not an end in itself. It is the mechanism that enables continued investment in network quality, broader coverage and enhanced customer experience. As Nigeria’s digital ecosystem continues to expand across fintech, small businesses, education and public services, resilient and future-ready telecommunications infrastructure remains foundational to national development.”
