MTN Nigeria grows revenue by 17%, assures of listing

In spite of pressures from the Central Bank of Nigeria (CBN) and Office of Attorney General of the Federation (OAGF), MTN Nigeria recorded 17.4 per cent revenue growth in Q3.

Its 2018 Q3 group financial report, released yesterday in Johannesburg, South Africa, showed that the telecommunications firm recorded a 1.1 per cent rise in quarterly user base helped partly by strong performance in Nigeria, its largest market.

The Group said its user base increased by 2.5 million subscribers to 225.4 million users, just as its mobile money customers grew by 1.7 million to 25.8 million users.
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The group’s active data subscribers increased quarter-on-quarter by 5.0 million to 74.2 million.

Group service revenue increased year-on-year (YoY) by 10.0 per cent, while its group data revenue increased year-on-year by 23.9 per cent.

It increased service revenue by 17.4 per cent year-on-year towards the upper end of its medium-term target of double-digit growth for the country.