Telecommunications firm, MTN generated a record N1 trillion revenue in Nigeria in 2018.

Although MTN Nigeria is yet to make this public, makeitglobal.biz learnt from sources within and close to the telecommunications giant that its management was surprised about the huge turnover.

Investigations showed that the multinational telecommunications company announced a half year revenue of over N500 billion in 2018, hit its target for last year by September and crossed the N1 trillion threshold by the end of the year.

A financial report released by the telecommunications company for the period ended September 30, 2018, said MTN Nigeria increased its service revenue by 17.4 percent. This growth was said to have been led by a 52.5 percent increase in data revenue and 21.5 percent increase in outgoing voice revenue. The company was said to have on a quarter-on-quarter basis, recorded 15.1 percent growth (or 17.2 million) in active data subscribers.

MTN Nigeria’s earnings before interest, tax, depreciation and amortization (EBITDA) margin was said to have expanded to 43.2 percent in the first nine months of the year. The reason for the expansion is strong growth in revenue cost optimisation efforts.

Similarly in its half-year report for 2018 , MTN Nigeria reported earning a revenue of N567 billion.

MTN’s impressive posting came as a big surprise but underscored the importance of Nigeria as a cash cow that cannot be ignored in spite of its woes, says a financial analyst who opted for anonymity........

https://www.makeitglobal.biz/mtn-nigeria-hits-jackpot/

CC: FOD DOMINIQUE

na their way na....naija don help MTN wella wella

MThieveN

Like Dangote will always say, Nigeria Is one of the world's best kept business secret. With minimal impact from Government albeit poor leadership all the while , our human and natural resources reek of so much wealth