MTN Nigeria
MTN Nigeria has called on regulators and policymakers to foster a more enabling operating environment, as it commits to delivering value for its over 11,000,000 direct Nigerian retail shareholders and millions more through pension funds.
Speaking during an interactive session detailing the company’s evolution as Nigeria marks 25 years of GSM services and the company’s 25th anniversary in the country, Chief Financial Officer, MTN, Modupe Kadri, highlighted the continuous capital investments made by the operator to support Nigeria’s expanding digital economy, while underscoring the urgent need for policy frameworks that align with current economic realities.
Reflecting on the operator’s journey over the past 25 years, Kadri noted that MTN Nigeria has consistently driven technological firsts, transitioning the nation from traditional voice services to high-speed mobile data, 4G, 5G, and fintech platforms.
Kadiri disclosed that MTN invested over N1.6 trillion in capital expenditure (CapEx) over 18 months to expand capacity and upgrade infrastructure across the country. He said the operator paid over N620 billion in taxes and government levies during the same timeframe.
The MTN CFO revealed that 2.5 per cent of MTN’s top-line revenue is allocated directly to the Nigerian Communications Commission (NCC) as Operating License fees (AOL).
According to him, network capacity continues to expand to support a growing subscriber base that now stands at over 92 million Nigerians.
Despite heavy investments, executive leadership emphasised that lingering structural and policy bottlenecks jeopardise long-term sector sustainability.
He revealed that telecom equipment costs remain overwhelmingly tied to foreign exchange, yet local retail tariffs faced multi-year price freezes, unlike energy and petroleum sectors where price adjustments were permitted to match inflation, adding that inconsistent RoW policies across states continue to slow down the physical deployment of high-capacity fibre and advanced infrastructure.
The executive stressed that scaling next-generation technologies, such as 5G, Edge Computing, and Artificial Intelligence, requires streamlined government policies and an environment that guarantees monetisation of capital investments.
Beyond infrastructure, the MTN CFO highlighted the firm’s strategy to embed its operations deeply within Nigeria’s domestic economy by democratizing equity ownership and nurturing local talent.
Following landmark public share offers aimed at retail investors, Kadiri disclosed that MTN has about 300,000 direct shareholders and an additional 11 million Nigerians who own shares indirectly through pension funds and others.
He said the operator has successfully navigated initial regulatory hurdles to expand its MoMo Payment Service Bank (PSB) and digital platforms, broadening financial inclusion nationwide.
Further, he said: “Through flagship cultural and music initiatives such as Next Afrobeats Star, MTN continues to build non-network platforms that showcase local talent and empower youth across the country.
