MTN Nigeria has invested about N1.63tn in capital projects over the past 18 months as the telecommunications company continues to expand its network and prepare for growing demand for digital services.
The company’s Chief Financial Officer, Modupe Kadri, disclosed the figure during MTN Nigeria’s 25th anniversary celebration at its headquarters in Lagos.
Kadri said the company significantly increased its capital expenditure after the telecommunications regulator approved a tariff adjustment in January 2025. According to him, the higher revenue outlook enabled MTN Nigeria to commit more resources to network expansion and other infrastructure.
He explained that the company had spent more than N1tn on capital expenditure since the tariff adjustment, while also paying over N620bn in taxes and levies.
The CFO noted that MTN Nigeria continues to meet its regulatory obligations, including payments connected to its operating licence.
The company’s investment comes as Nigeria’s telecommunications industry faces rising demand for reliable internet services, stronger network coverage and faster connections. The growing use of smartphones, digital payments, streaming platforms and online businesses has placed additional pressure on telecom operators to improve their infrastructure.
MTN Nigeria also highlighted the gains recorded by investors since the company became publicly traded.
The telecom company first entered the Nigerian capital market through a listing by introduction in 2019, when 20.35 billion ordinary shares were listed at N90 per share. It later became listed on the Nigerian Exchange in 2021.
At the close of trading on Monday, MTN Nigeria’s shares stood at N845 per share, reflecting significant growth from its original listing price.
Kadri said the company’s 25th anniversary should not only be about celebrating past achievements but also about preparing for the next phase of technological development.
He pointed to technologies such as artificial intelligence, 5G, the internet and other emerging innovations as areas that could transform the company and Nigeria’s digital economy over the next 25 years.
Meanwhile, MTN Nigeria currently has more than 92 million subscribers, according to its General Manager of Access Planning and Optimisation, Nasiru Hayatu.
Hayatu said the company has continued to manage its expanding customer base through regular network optimisation and the use of technology to predict future demand.
He explained that MTN uses specialised tools to identify areas where additional infrastructure and network improvements are required.
The company also said it would continue working with global device manufacturers rather than directly entering the device-selling business.
MTN Nigeria’s Chief Marketing Officer, Onyinye Ikenna-Emeka, said the company would strengthen partnerships with original equipment manufacturers to make newer technologies more accessible to Nigerians.
The telecom giant is also expanding its digital and entertainment offerings. Its Chief Digital Officer, Aisha Umar-Mumuni, said the company would continue providing family-oriented content, including programmes such as the Next Afrobest Star.
MTN Nigeria began commercial operations in the country in August 2001 after making its first test call in May of the same year.
Twenty-five years later, the company remains one of the biggest players in Nigeria’s telecommunications industry, with its latest investment showing its continued focus on network expansion, technology and digital services.
