MTN Nigeria has seen its market capitalisation soar to ₦10.08 trillion on the Nigerian Exchange (NGX) as investors priced the telecoms giant’s shares at ₦480 during today’s trading session.
A total of 1.48 million shares exchanged hands, reflecting strong investor confidence in the company following its impressive half-year results and a significant turnaround in its financial performance.
The latest market valuation is based on 20,995,560,103 outstanding shares, listed by the Nigerian Exchange Group on its website.
The latest development cements MTN’s position as the most capitalised firm listed on the NGX.
This surge in valuation comes days after MTN Nigeria released its financial results for the half-year ended June 30, 2025, reporting a Profit After Tax (PAT) of ₦414.9 billion, a dramatic rebound from the ₦519.1 billion loss posted in the same period last year.
Service revenue also grew by 54.6% year-on-year to ₦2.4 trillion, while earnings before interest, taxes, depreciation, and amortisation (EBITDA) more than doubled, rising by 119.5% to ₦1.2 trillion, pushing the EBITDA margin to 50.6%.
According to the company’s financial statement, MTN added 3.8 million new mobile subscribers in the first six months of the year, bringing its total subscriber base to 84.7 million, while active data users grew by 11.8% to 51 million.
Chief Executive Officer, Karl Toriola, said the results demonstrate the success of MTN’s strategic execution and the resilience of its operations.
“We are excited by the progress made in the first half of 2025, reflecting the successful execution of the strategic priorities we previously communicated to the market,” he said in the H1 2025 earnings release.
“Building on the momentum from the first quarter, we delivered strong growth in service revenue for the period under review. This was driven by robust demand for our services, proactive customer value management and price adjustments, mainly in Q2.”
Toriola attributed the turnaround to operational efficiencies, increased investment in network capacity and coverage, and improved macroeconomic conditions, particularly relative naira stability and improved foreign exchange liquidity.
