MTN Nigeria Communications Plc made N1.80tn from voice and data in 2022 according to the firm’s audited results for the year ended 31 December 2022.
This is a 20.79 per cent increase from the N1.49tn the firm made from the same revenue source in 2021. Overall, the firm’s total revenue increased by 21.64 per cent from N1.65tn as of December 2021 to N2.01tn as of December 2022.
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According to the firm, its mobile subscriber base grew by 7.2 million in 2022, and active data subscribers grew by 5.2 million. The firm also described that 2022 was challenging because of global macroeconomic and geopolitical volatility.
Commenting on the result, MTN Nigeria Chief Executive Officer, Karl Toriola, said, “2022 was challenging due to global macroeconomic and geopolitical volatility, resulting in higher inflation, supply chain uncertainties, foreign exchange volatility and availability.
“In Nigeria, Inflation reached a 17-year high of 21.5% in November before moderating slightly to 21.3 per cent in December, bringing the average for the year to 18.8 per cent and putting pressure on consumer spending.”
He added, “Voice revenue maintained a steady recovery as more customers were reactivated and gross connections ramped up. This was backed by our customer value management initiatives through which we managed churn and drove increased usage from the existing base.
“As a result, voice revenue rose by 6.8 per cent, bucking the slower growth trend of general voice traffic as data traffic continues to increase.
