RateCaptain
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us
No Result
View All Result
RateCaptain
No Result
View All Result
Home company news

MTN Nigeria’s Data Revenue hits N228 billion as surpasses its Voice Revenue for the first time.

Rate Captain by Rate Captain
April 28, 2023
in company news
Reading Time: 2 mins read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

AlsoRead

Nigerian Senate Amends CBN Act and Extends Supplementary Budget Implementation

Neuralink Receives FDA Approval for Human Brain Implant Clinical Trial.

YouTube to Shut Down Stories Feature, Focusing on Shorts and Community Engagement

MTN Nigeria, the country’s largest telecoms operator, has reported a 20.6% growth in its total revenue for the first quarter of 2023, hitting N568 billion. The company’s data revenue surpassed voice revenue for the first time, with a 40% increase in data revenue contributing to the surge. MTN’s data revenue for the quarter reached N227.8 billion, while voice revenue increased by 7.3% to reach N277.6 billion.

The company’s rollout of 5G late last year, coupled with the expansion of its 4G network, has contributed to the growth of data revenue. Karl Toriola, CEO of MTN Nigeria, noted that the increase in data revenue is due to the rising number of active data subscribers, which rose by 1.7 million in the first quarter.

“Our total data traffic increased by 50.3%, while 4G traffic constitutes 81.6%,” said Toriola. “We rolled out an additional 170 5G sites in Q1, bringing the population coverage to 4% and expanding the network experience to more smartphone users.”

MTN Nigeria’s sustained investment in its networks to drive 4G and 5G coverage has enabled it to cover 79.3% of the population with 4G network, up from 79.1% in December 2022. Data usage per user also grew by 31.3% to 7.8GB, and the company added over 804k new smartphones to its network in Q1.

Toriola noted that the addition of 169k users in Q1 to MTN Nigeria’s home broadband penetration was supported by deploying its 5G fixed wireless access devices, mobile broadband solutions, and fiber-to-the-home connectivity. With this growth in data revenue, MTN Nigeria’s focus on enhancing the capacity and coverage of its networks is expected to continue to support the rising data traffic and drive sustainable growth.

Previous Post

Transcorp’s Chairman Increases Stake in Conglomerate Amid Growing Investor Confidence.

Next Post

World Day: Vitafoam reaffirms commitment to employee safety

Related News

CBN Excludes NSPMC from Approved Cheque Printers.

Nigerian Senate Amends CBN Act and Extends Supplementary Budget Implementation

by Rate Captain
May 27, 2023
0

  In a significant move, the Nigerian Senate has recently made amendments to the Central Bank of Nigeria (CBN) Act,...

Neuralink Receives FDA Approval for Human Brain Implant Clinical Trial.

Neuralink Receives FDA Approval for Human Brain Implant Clinical Trial.

by Rate Captain
May 26, 2023
0

Neuralink, the neurotech startup co-founded by Elon Musk, has achieved a significant breakthrough as it received approval from the Food...

YouTube to Shut Down Stories Feature, Focusing on Shorts and Community Engagement

YouTube to Shut Down Stories Feature, Focusing on Shorts and Community Engagement

by Rate Captain
May 25, 2023
0

YouTube, the Google-owned video site, has announced that it will be shutting down its Stories feature on June 26, 2023....

Berger shareholders approve N202m as dividends.

Berger shareholders approve N202m as dividends.

by Rate Captain
May 25, 2023
0

Shareholders of the paints and allied products manufacturer, Berger Paints of Nigeria Plc, have approved the payment of N202,876,413 as...

Next Post

World Day: Vitafoam reaffirms commitment to employee safety

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Canada Expedites Family Reunification Process, Contrasting UK’s Immigration Policy

Canada Expedites Family Reunification Process, Contrasting UK’s Immigration Policy

May 27, 2023
CBN Excludes NSPMC from Approved Cheque Printers.

Nigerian Senate Amends CBN Act and Extends Supplementary Budget Implementation

May 27, 2023

Popular Story

  • Apple’s Market Cap Surpasses the Entire UK Stock Market: A Phenomenon Worth Examining

    Apple’s Market Cap Surpasses the Entire UK Stock Market: A Phenomenon Worth Examining

    0 shares
    Share 0 Tweet 0
  • Nigeria Hopes to Supply More LNG to Europe Next Winter

    0 shares
    Share 0 Tweet 0
  • MainOne Graduate Trainee Program now open to Nigerian applicants.

    0 shares
    Share 0 Tweet 0
  • Telecom Operators Blame Communications Minister for Telecom Debt Crisis

    0 shares
    Share 0 Tweet 0
  • Nigerian Senate Amends CBN Act and Extends Supplementary Budget Implementation

    0 shares
    Share 0 Tweet 0
RateCaptain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

?>