MTN Nigeria has significantly ramped up its capital expenditure (capex) to N565.7 billion in the first half of 2025, marking a bold commitment to expand its network capacity, coverage, and digital infrastructure to meet surging demand for connectivity and data services across the country.
The telecommunications giant announced the development in its financial results for the half year ended June 30, 2025.
The operator emphasised that the accelerated investments were central to the company’s strategic push for enhanced customer experience and long-term growth.
“Our strong capex deployment in H1 is a deliberate step to scale infrastructure in response to increased data consumption and rising service demand,” said CEO Karl Toriola.
“We’re investing in quality and coverage to unlock value and deliver a superior experience to our customers.”
One of the major milestones underscoring this investment is the launch of the first phase of MTN Nigeria’s US$240 million Dabengwa Tier 3 Data Centre in July 2025.
Positioned to become the largest of its kind in West Africa, the facility will support enterprise digitisation, innovation, and operational efficiency for businesses across the region.
The company’s aggressive investment strategy comes amid strong commercial and financial performance.
Service revenue surged by 54.6% year-on-year to N2.4 trillion, while EBITDA soared by 119.5% to N1.2 trillion, raising the EBITDA margin by 15 percentage points to 50.6%.
Profit after tax stood at N414.9 billion, a sharp rebound from a loss of N519.1 billion in H1 2024.
Mobile subscriber numbers grew by 6.7% to 84.7 million, and active data users rose by 11.8% to 51 million, driven by increased network capacity and targeted customer engagement. Data traffic also grew by 41.2% year-on-year.
In line with its Ambition 2025 strategy, MTN Nigeria also began onboarding mobile virtual network operators (MVNOs) and secured approval for a national roaming agreement with 9Mobile, further expanding service reach and market inclusion.
Toriola credited the financial turnaround and operational momentum to favourable macroeconomic conditions, including a more stable naira, improved forex liquidity, and easing inflationary pressures.
He also noted regulatory developments such as improved SIM registration frameworks, which aim to enhance industry integrity.
The company reported free cash flow of N409.8 billion, up 18% year-on-year. While capex was front-loaded in the first half, MTN Nigeria indicated a planned moderation in investment in H2 2025, aligning with full-year targets and setting the stage for stronger cash flow in the second half.
Looking forward, MTN Nigeria has upgraded its guidance for the full year 2025, now projecting service revenue growth and EBITDA margin of “at least low-50%.”
For the medium term (from 2026), it expects average service revenue growth of “at least low-20%” and EBITDA margin between 53–55%, assuming a stable economic environment and no further price changes.
As part of its broader contribution to national development, MTN Nigeria reaffirmed its commitment to digital and financial inclusion by pledging N3 billion to the federal government’s 3 Million Technical Talent (3MTT) Programme and launching a N100 million accelerator fund to support high-impact African startups.
“Our investments are not just about connectivity; they’re about building a digital future for Nigeria,” Toriola said.
“We are focused on delivering long-term value while driving shared prosperity across the communities we serve.”
