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MTN Nigeria, the country’s biggest telco, reported that its data revenue reached N804bn in the first nine months of 2024, surpassing voice revenue, as data demand surged across the company’s user base.
The milestone marks a shift in MTN’s revenue structure, with data now outpacing voice as the telecom giant’s leading revenue stream.
In its unaudited financial report for the nine months ended Sept. 30, 2024, the telco disclosed that the jump in data usage was driven by expanded 4G coverage, higher smartphone penetration, and increased demand for digital services.
The N804bn in data revenue reflects a 15 per cent increase from the N701bn earned during the same period in 2023.
In the third quarter alone, data revenue surged to N269.06bn, further highlighting the growing reliance on data services.
MTN Nigeria’s overall revenue for the nine-month period climbed 34 per cent year-on-year to N2.37tr, with data and digital services serving as key contributors.
Voice revenue for the same period stood at N701bn, emphasizing the shift toward data-based services.
The Chief Executive Officer of MTN Nigeria, Karl Toriola, stated, “In the first nine months of 2024, we sustained the growth in our underlying operating performance—underpinned by our resilient business model and operational agility—despite challenging conditions.”
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