MTN Nigeria, the largest telecommunication network in Nigeria, stated that its strong performance in the 2018 first quarter was influenced by “growth in data revenue and increased scale.”
MTN Nigeria also stated that between January and March 2018 its subscriber base increased by 2.3 million hitting the customer base of 54.5 million.
Funso Aina, the company’s PR and protocol manager, released the statement
He stated that the constant currency (organic) service revenue increased by 14.4% and data revenue increased 73.2% year-on-year (YoY). Also Ferdi Moolman, CEO of MTN while commenting said: “MTN Nigeria delivered a strong performance for the first quarter of 2018, supported by growth in data revenue and increased scale. We also maintained positive momentum in growing our subscriber base and maintaining our network leadership position,”
“In the first quarter of 2018, the margin of earnings before interests, taxes, depreciation, and amortisation (EBITDA) expanded to 41.8% given well-controlled expenses and a stable naira”.
“During the period the business rolled out 298 3G and 174 4G sites with the 4G roll out remaining centred on the top 10 cities across the country,” the statement read.
MTN Nigeria was sanctioned to the tune of $5.2 billion fine in October 2015 as they did not comply with regulations then to deactivate 5 million unregistered SIM cards.
The fine was later reduced by the government to $1 billion (N330 billion), payable over the three years with the condition that MTN enlists on the Nigerian Stock Exchange (NSE).
Early in April 2018, Prof. Umar Danbata, the Executive Vice Chairman of the Nigerian Communications Commission (NCC) praised MTN Nigeria for paying N55 billion as the second tranche of its fine without default.