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MTN claims that its Nigerian subscriber base has shrunk by 1.3 million.

MTN says its <a class=Nigerian subscribers have declined by 1.3 million - Television Nigerian"/>

MTN Nigeria reports a 1.3 million drop in mobile customers to 70.2 million as a result of regulatory restrictions on new SIM sales and activation.

This was stated in the telecoms company's unaudited results for the first quarter ended March 31, 2022, which were made public to the Nigerian Exchange Ltd. in Lagos on Thursday.

Between the first and fourth quarters of 2022, the firm added 1.7 million members, while active data users climbed by 3.4 million to 35.9 million, according to the corporation.

Between the first and fourth quarters of 2022, the company had 1.6 million active users.

Active fintech users increased by 6.2 million to 10.7 million in the first quarter of 2022, up from 1.3 million in the fourth quarter of 2021.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by 25.7 percent to N257.1 billion, with a margin increase of 1.5 percent to 54.6 percent.

The company's service revenue increased by 22% to N469.8 billion, while profit after tax jumped by 31.3 percent to N96.8 billion.

Excluding right of use assets, earnings per share increased by 31.3 percent to N4.76 and capital expenditure (Capex) increased by 80.8 percent to N162.5 billion, up from 156.8% to N81.2 billion.

It also stated that a dividend of N8.57k per share was paid out for the fiscal year 2021.


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Lagos MTN MTN Nigeria Nigerian Nigerian Exchange Ltd


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