August 5, 2025/CSL Research
In the first half of 2025, players in the Nigerian telecommunications sector posted robust Profit growth, primarily driven by a significant reduction in foreign exchange (FX) losses and the full impact of recently implemented tariff increases. Industry-wide, operators reported solid Revenue gains, with MTN Nigeria leading the way. MTN Nigeria recorded a 54.5% year-on-year (y/y) increase in total Revenue, rising to ₦2.38 trillion, up from ₦1.54 trillion in H1 2024.
This impressive growth was underpinned by strong performance in both data and voice services. Data Revenue surged by 69.2% y/y, while Voice Revenue grew by 40.3% y/y. Airtel Africa also posted a strong rebound in its Q1 2026 financial results. Revenue rose by 22.4% y/y to US$1.42 billion, up from US$1.16 billion in Q1 2025. The company attributed this growth to recent tariff hikes in Nigeria and sustained momentum in its Francophone Africa markets, where its customer-centric strategy is beginning to yield results. During the period, Data Revenue rose by 34.1%, while Voice Revenue increased by 11.9%.
Click here to download full report: CSL Nigeria Daily – 05 August 2025 – Telecoms .pdf
