MTN Nigeria’s voice and data sales increased by N192.01 billion to N1.09 trillion in the first nine months of 2021, compared to the same period in 2020.
According to PUNCH Newspaper, the total income for the period under review increased to N1.21 trillion from N975.76 billion a year earlier, according to the telecommunications corporation.
Its fintech revenue has continued to climb, rising from N32.37 billion in the first nine months of 2020 to N50.24 billion this year.
Karl Toriola, the company’s Chief Executive Officer, commented on the company’s growth in the third quarter of 2021, saying, “In the first nine months of 2021, we continued to enhance the resilience of the business, improve our performance and make good progress towards our Ambition 2025 strategy.
“Creating shared value has become a strategic priority within the Ambition 2025 framework. As a result, we continue to deepen our support for and partnerships in Nigeria.”
He said that the telecom embargo in some parts of the country had had a minor impact on some of the company’s operations.
Toriola added, “The resilience we are building in the business is reflected in our performance, demonstrating our ability to achieve continued growth despite the ongoing impact of SIM registration and activation restrictions on subscriber growth.
“While our overall subscriber numbers have continued to decline over the last quarter, this has been at a reduced rate, and we have seen our data subscriber numbers return to growth, increasing by 2.5 million.
“We expect the decline in the overall subscriber base to bottom out and return to positive net additions in Q4 2021 as we progressively ramp up our SIM registration and activation infrastructure while adopting and aligning with the new regulations.”
He added that the company’s service revenue had increased by 23.7 per cent, ahead of the country’s rate of inflation.