At the end of last week, MTN Nigeria Communications Plc achieved a remarkable milestone: its market capitalisation on the Nigerian Exchange Limited (NGX) climbed to ₦10.8 trillion, elevating the telecom giant into the top three most-valuable stocks on the exchange.
This impressive valuation reflects more than just stock market euphoria. It tells a story of dramatic recovery and strategic repositioning.
Just months ago, the company was still reeling from losses. In the first half of 2025 alone, MTN Nigeria reported a net income of ₦414.9 billion, a striking turnaround from a ₦519.1 billion loss in the same period the previous year.
Revenue growth helped drive the shift: turnover hit ₦2.38 trillion, up 54 % year-on-year, with data revenue alone growing from ₦726.6 billion in H1 2024 to ₦1.23 trillion in H1 2025.
A key pivot for MTN was the drastic reduction in foreign-exchange losses. In H1 2024, FX losses were about ₦887.7 billion; by H1 2025 those were cut to roughly ₦5.2 billion. The result: operating profit surged to ₦892.8 billion, nearly triple the prior year’s.
Investors have taken note. The stock price has jumped to around ₦515 per share (as at 24 October 2025) from a closing price near ₦200 at the end of 2024, representing a year-to-date gain of roughly 157.5 %.
For MTN Nigeria, this moment is more than a headline, it signals a strategic pivot toward growth, resilience and market leadership in Africa’s dynamic telecommunications sector.
As the company rides the data boom, strengthens its balance sheet and sharpens its operational focus, the ₦10.8 trillion capitalisation is both a marker of past success and a springboard for future ambitions.
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