MTN Nigeria Communications Plc has achieved a historic milestone, becoming the first listed company on the Nigerian Exchange Limited (NGX) to reach a market capitalization of ₦10 trillion, as its share price closed at ₦480 on Friday, August 1, 2025.
The telecommunications giant’s shares gained ₦8 or 1.69% during Friday’s trading session, pushing the company’s market value past the ₦10 trillion threshold.
This remarkable achievement comes just two days after MTN Nigeria released its stellar half-year 2025 financial results on Wednesday, which showed exceptional performance across all key metrics.
The timing is not surprising based on what was said in the company’s H1 results, which revealed a dramatic turnaround from losses to profitability.
The telecoms operator reported service revenue growth of 54.6% to ₦2.4 trillion, while EBITDA surged by 119.5% to ₦1.2 trillion with margins expanding significantly to 50.6%.
Most importantly, the company achieved a profit after tax of ₦414.9 billion, marking a stunning recovery from the loss of ₦519.1 billion recorded in the same period last year.
Speaking on the H1 2025 results that have driven investor confidence, MTN Nigeria CEO Karl Toriola said: “We are excited by the progress made in the first half of 2025, reflecting the successful execution of the strategic priorities we previously communicated to the market.”
Toriola emphasized the company’s strong operational momentum, stating: “Building on the momentum from the first quarter, we delivered strong growth in service revenue for the period under review. This was driven by robust demand for our services, proactive customer value management and price adjustments, mainly in Q2.”
The CEO’s confidence in the company’s trajectory was evident in his commentary about future prospects.
“In light of the strong momentum in our business, we have upgraded our FY 2025 and medium-term guidance and we remain firmly on track to restore our balance sheet to a positive net asset position by the end of Q3,” Toriola declared.
This optimistic outlook, backed by upgraded financial guidance targeting service revenue growth of “at least low-50%” and EBITDA margin of “at least low-50%” for FY 2025, has clearly resonated with investors.
Toriola highlighted improving operating conditions that have supported the company’s performance: “The macroeconomic conditions in Nigeria showed notable improvements in the period under review, including a relatively stable naira, improved foreign exchange (forex) liquidity and easing inflationary pressures.”
He noted that “this backdrop helped to enable our improved business performance and set a more supportive context for increased long-term investments.”
The ₦10 trillion market cap milestone represents extraordinary value creation for shareholders.
