MTN Nigeria Communications Plc has released its audited financial results for the year ended December 31, 2025, reporting a strong rebound in profitability and announcing a final dividend of N15 per share.
The telco disclosed that its total dividend for the 2025 financial year stands at N20 per share. The results were published on the Nigerian Exchange Limited (NGX) on February 26, 2026.
Key performance highlights
MTN Nigeria recorded broad-based growth across its connectivity, digital, and fintech segments, supported by subscriber expansion and increased data usage.
- Total subscribers rose by 7.9% to 87.3 million
- Active data users increased by 11.6% to 53.2 million
- Service revenue surged by 55.1% to N5.2 trillion
- EBITDA climbed by 108.9% to N2.7 trillion
- EBITDA margin improved by 13.6 percentage points to 52.7%
- Profit after tax (PAT) stood at N1.1 trillion, compared to a loss of N400.4 billion in FY 2024
- Earnings per share rose to N53.07, from a negative N19.05 in 2024
- Retained earnings and shareholders’ equity closed at N400.4 billion and N548.7 billion, respectively
- Capital expenditure (excluding leases) more than doubled to N1 trillion, with capex intensity at 19.3%
- Free cash flow increased by 215.5% to N1.2 trillion
The company attributed the performance to sustained investment in network capacity and quality, alongside growing demand for data and digital financial services.
Return to profitability
Commenting on the results, Karl Toriola, chief executive officer, MTN Nigeria, described 2025 as a turning point for the business.
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“2025 marked a significant turning point in our business performance and resumption of dividend payments. In the period, we returned to profitability, generated stronger free cash flow and restored positive retained earnings and shareholders’ funds. Our balance sheet resilience was driven by the robust performance of the business as well as a focused reduction in foreign currency exposure and financial discipline. These results were delivered through excellent commercial execution, commitment to operational efficiency and disciplined capital allocation, underpinned by a supportive macroeconomic environment.”
Also commenting on the results, Modupe Kadri, the chief financial officer, MTN Nigeria said:
“Turnarounds rarely happen in headlines. They are built through tough trade-offs, deliberate choices, and teams that stay focused when the environment is most volatile. I am deeply proud of our people and grateful to our shareholders, regulators, and partners who stayed the course with us. Most especially, we are grateful for the support our Board and our parent company.”
Dividend payout
With the declaration of a N15 final dividend, MTN Nigeria reaffirmed its commitment to shareholder value, while maintaining investment in network expansion and digital infrastructure.
The telco said it will continue to prioritise broadband penetration, deepen its fintech ecosystem, and scale digital solutions for individuals and businesses, as it strengthens its position in Nigeria’s evolving digital economy.
Launched in 2001, MTN Nigeria is one of the country’s largest telecommunications providers, serving over 87 million subscribers nationwide. It is a subsidiary of MTN Group, which operates across 16 countries in Africa and the Middle East.
