FRI FEB 27 2026-theGBJournal| MTN Nigeria shareholders were rewarded with a record Final dividend of N15 per share in FY 2025 as the telecoms giants resumed dividend payments.
The telecoms giant delivered robust, broad-based growth across our connectivity and platform businesses, resulting in a strong topline performance.
Service revenue grew by 55.1% (Q4 2025: 49.3%). Excluding the once-off USSD revenue recognition in Q4 2024, Q4 2025 service revenue sustained a strong underlying growth of 62.0%. Data remained the primary growth engine, complemented by solid contributions from voice, fintech and digital services.
Cost pressures were contained through expense efficiency programme, supported by moderated inflation and the strengthening of the naira against the dollar.
As a result, EBITDA more than doubled, rising 108.9% to N2.7 trillion, with a margin expansion of 13.6pp to 52.7%, in line with guidance.
MTNN reported a PAT of N1.1 trillion, up 377.9%, which marked a strong turnaround from the N400.4 billion after-tax loss in the prior year, supporting the restoration of positive retained earnings and shareholders’ equity.
Free cash flow of N1.2 trillion was 215.5% higher, demonstrating robust underlying cash generation, even as we accelerated our capex deployment in alignment with our quality-of-service and growth objectives.
The Board has proposed a final dividend of N15 per share, payable from distributable net income, subject to shareholder approval at the Annual General Meeting. This brings the total dividend for the year to N20 per share, reflecting our ongoing commitment to sustainable value creation.
”Looking ahead, we are encouraged by the trajectory of our business as we seek to consolidate the significant gains achieved in 2025,” said CEO Karl Toriola who described 2025 as a significant turning point in company’s business performance.
”Our balance sheet resilience was driven by the robust performance of the business as well as a focused reduction in foreign currency exposure and financial discipline.
These results were delivered through excellent commercial execution, commitment to operational efficiency and disciplined capital allocation, underpinned by a supportive
macroeconomic environment.”
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