MTN, Airtel generate N6.8tn in Nigeria as data revenue surges past N3.5tn (NTN Update 937)

MTN, Airtel generate N6.8tn in Nigeria as data revenue surges past N3.5tn has attracted attention in Nigeria, as fresh details emerged from the report. Nigeria’s two largest telecommunications operators, MTN Nigeria Communications Plc and Airtel Nigeria, generated a combined N6.782 trillion in revenue in their latest reporting cycles, underscoring the scale of the decisive shift from voice to data-driven earnings. MTN Nigeria noted total revenue of N5.2 trillion for the year ended December 31, 2025, a 52.9 percent increase year on year. Within that figure, data revenue rose 74.5 percent to N2.78 trillion, overtaking voice revenue which grew 42.1 percent to N1.85 trillion. The figures confirm that broadband usage, not traditional calls, now anchors the company’s growth model. Airtel Nigeria, reporting under the results of Airtel Africa for the nine months ended December 31, 2025, posted revenue of $1.13 billion from its Nigerian operations. For consistency and transparency, that figure has been converted at an assumed exchange rate of N1,400 to the dollar, translating to approximately N1.582 trillion. Using that fixed rate, the combined revenue of both operators stands at N6.782 trillion. On the data front, MTN’s disclosed N2.78 trillion data revenue accounts for more than half of its service income. Airtel Nigeria noted data revenue growth of 65.4 percent during the period, its fastest-growing segment. While Airtel does not publish a standalone naira data figure for Nigeria, the growth profile confirms that combined data earnings across both operators comfortably exceed N3.5 trillion, underscoring the structural dominance of broadband consumption. Read also: MTN Nigeria rebounds to N1.1tn profit as FX gains, data surge lift revenue 55% Usage intensity continues to rise. MTN’s average monthly data consumption climbed to 13.1 gigabytes per user, while Airtel Nigeria recorded 10.7 gigabytes per customer per month. Smartphone penetration reached 66.1 percent on MTN’s network and 54.1 percent for Airtel Nigeria, reinforcing the migration toward data-heavy services including streaming, social media and digital payments. Commenting on the performance, Karl Toriola, MTN Nigeria’s chief executive officer, stated the results reflect strong demand resilience and improved macroeconomic stability. Toriola noted that data traffic growth and disciplined execution helped the company convert revenue expansion into profitability recovery. According to him, the company’s focus remains on expanding capacity, deepening broadband access and sustaining service quality as usage intensifies across consumer and enterprise segments. Read also: MTN Nigeria posts N750bn profit as stronger naira, data boom drive record turnaround Profitability has strengthened alongside revenue growth. MTN Nigeria posted a profit after tax of N1.1 trillion for 2025, marking a sharp turnaround from the prior year’s loss driven by foreign exchange volatility. Its EBITDA margin improved to 52.7 percent, reflecting operating leverage as data traffic rose 34 percent during the year. At group level, Airtel Africa noted operating profit growth of 41.3 percent and a 136.6 percent increase in profit after tax, with Nigeria remaining its largest and most significant market. EBITDA margins in Nigeria reached 57.8 percent in recent quarters, highlighting the high-margin nature of data monetisation in the country. Sunil Taldar, chief executive officer of Airtel Africa, described Nigeria as a key growth engine for the group, citing accelerating data usage, ARPU expansion and improving operating conditions. He stated the company would continue investing in network expansion and digital financial services to capture rising demand while maintaining capital discipline. The revenue composition signals a deeper transformation within Nigeria’s telecom sector. Data growth of 74.5 percent at MTN significantly outpaced voice growth of 42.1 percent, confirming that the industry has entered a consumption-led phase. Subscriber growth remains relevant, but rising usage intensity and improved monetisation now define performance. With a combined subscriber base exceeding 140 million connections across both networks, the nearly N6.8 trillion revenue scale positions Nigeria as one of Africa’s largest telecom markets by value. More significantly, the earnings mix shows that the industry’s future lies in gigabytes rather than call minutes, marking a structural reset in how connectivity generates profit in Africa’s largest economy. Stakeholders are expected to follow subsequent developments closely.