MTN attributes profit recovery to trust, govt support

The Chief Executive Officer of MTN Nigeria, Karl Toriola, has attributed the company’s return to profitability to customer loyalty and improved collaboration with the Nigerian government and regulators, following one of the most notable corporate recoveries in the country’s telecommunications sector.

His remarks came after MTN Nigeria last week announced a N750.2bn profit after tax for the nine months ended 30 September 2025, marking one of the most dramatic turnarounds in Nigeria’s telecom industry. The figure represents a 245.7 per cent rebound from a N514.9bn loss recorded in the same period of 2024, driven by strong data growth, fintech expansion, and improved macroeconomic stability.

In a LinkedIn post on Monday, Toriola said the company’s latest performance reflected more than just financial recovery; it told a story of “resilience, faith, and commitment” to MTN’s customers, employees, and Nigeria itself.

“Beyond the strong numbers, they tell a story of resilience, faith, and commitment to our customers, our people, and Nigeria,” he wrote.

“Through the challenges of the past few years, Nigerians stood by us. You kept believing, you kept choosing MTN, and that trust has been the foundation of our recovery and growth.”

Earlier this year, the Nigerian Communications Commission approved a 50 per cent tariff increase after telecom operators had operated under static rates for nearly a decade. The regulator said the review was necessary to help companies cope with rising energy costs, inflation, and foreign exchange volatility.

The decision, while welcomed by operators, drew criticism from labour unions, which warned it could raise the cost of living for consumers.

Toriola thanked the Federal Government, regulators, shareholders, and MTN employees for their roles in enabling the turnaround. “We remain deeply thankful to the federal government and our regulators for their partnership and continued efforts to create an environment where businesses can thrive. To our shareholders, thank you for your patience and belief. To every MTNer across the country, your hard work and devotion made this turnaround possible,” he said.

With more than 80 million subscribers, MTN Nigeria remains the country’s largest telecommunications operator. The company said it will continue investing in network expansion, fintech innovation, and rural connectivity as part of its broader push to improve service quality and digital inclusion.

“As we return to profitability, our focus is clear,” Toriola added. “We will keep investing in our network, in our people, and in communities across the country. We know we are not perfect, but we are always working to be better to deliver a network you can rely on and a brand you can be proud of.”

He reaffirmed that MTN Nigeria remains committed to the country’s progress. “MTN Nigeria is, and will always be, a Nigerian company at heart. Our success is tied to the progress of this nation. Together, we will keep driving growth, creating opportunities, and connecting hope to possibility,” he wrote.