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MTN Nigeria loses over 1 million subscribers

from OKORO CHINEDU in Lagos, Nigeria
LAGOS – MTN Nigeria mobile subscribers have declined by 1,3 million to 70,2 million over the past year, impacted by regulatory restrictions on new subscriber identity module (SIM) sales and activations.

Nonetheless, the operator added 1,7 million subscribers in the first quarter of this year compared to the last quarter of 2021.

MTN Nigeria on Friday announced its unaudited results for the quarter ended March 31, 2022.

Profit after tax grew by 31,3 percent to N96,8 billion (US$233 million).

Service revenue increased by 22 percent to N469,8 billion.

Earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 25,7 percent to N257,1 billion.

MTN Nigeria CEO, Karl Toriola, said the company continued to make good progress in the first quarter.

This built on the momentum achieved in Q4 2021 and delivering several key milestones as MTN grew its connectivity business and platforms.

This was achieved against a backdrop of significant geopolitical volatility exacerbated by the war in Ukraine.

“This conflict has significantly impacted energy prices, broader inflation, supply chains and consumer spending,” Toriola explained.

– CAJ News

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