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MTN, Airtel Hit Revenue of N3.67tn From Data, Voice Services In H1 2024
By Mario Deepromoter
MTN Nigeria Communications Plc and Airtel Nigeria collectively generated approximately N3.67 trillion from data and voice services in the first half of 2024, according to an analysis of their financial results.
MTN Nigeria, the country’s largest telecom operator with nearly 80 million subscribers, reported a revenue of N1.27 trillion in the first six months of 2024.
This surge was largely driven by data services, which brought in N726.6 billion, a 55 percent increase from N469.7 billion during the same period in 2023. Voice services also saw growth, with revenue rising to N541.3 billion from N474.1 billion year-on-year.
The company attributed this growth to improved service quality and increased demand for data. Price optimization measures introduced in late 2023 also contributed to the rise in revenue.
Airtel Nigeria, with over 60 million subscribers, reported $229 million in revenue for the quarter ending June 30, 2024. This included $112 million from voice services and $117 million from data services.
While voice revenue dropped significantly by 55.8 percent from $254 million in the same quarter of 2023, it grew by 21.6 percent in constant currency terms. Data revenue also declined by 48.6 percent from $228 million in 2023, but constant currency figures indicated a 41.3 percent rise, reflecting increased demand for internet services.
For the fiscal year by ending March 31, 2024, Airtel posted $711m in voice revenue and $654 million in data revenue, totaling $1.594 billion. When converted to naira using the exchange rate of N1500/$1, Airtel generated N2.4 trillion in the first six months of the year. Combined, MTN and Airtel’s revenue from data and voice services amounted to approximately N3.67 trillion.
Both telecom giants are capitalising on the growing demand for digital services as Nigeria’s digital economy expands.
However, they face challenges, particularly the devaluation of the naira against the dollar, which has inflated operational costs. Telecom operators spend heavily on diesel, with over 50 million liters consumed monthly to power infrastructure, even as they are shifting to clean energy to cut cost.
Source: Gistcore
News
TikTok Useless Without U.S. Govt – Trump Declares
President Donald Trump declared TikTok “worthless” without U.S. government approval during remarks on Tuesday. He floated a controversial idea for prospective buyers: “Buy it and give half to the United States of America. Half, and we’ll give you the permit.”
TikTok faces pressure to find a U.S. buyer due to a federal law banning its operation unless “significant progress” is made toward a sale.
An executive order signed by Trump on Monday grants a 75-day extension for a deal. China has criticized the U.S. stance, urging the creation of a fair business environment for all enterprises, according to Foreign Ministry spokesman Guo Jiakun.
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Just in: Troops capture Boko Haram Commander, Abu Iklima, fighters neutralised
Nigerian troops participating in Operation Hadin Kai have detained Abu Iklima, a senior Boko Haram commander.
Prior to his capture, Iklima was in charge of Gaizuwa, also known as Mantari, Gabchari, Kashimiri, and Maimusari, in the Bama Local Government Area of Borno State.
Iklima’s enclave was demolished by the soldiers, and hundreds of his fighters were slain, according to Zagazola Makama, a counter terrorism and insurgency expert from the Lake Chad Basin.
According to the report: “This Abu Iklima, a top commander of Boko Haram, was commanding Gaizuwa, otherwise known as Mantari, Gabchari, Kashimiri, and Maimusari in Bama Local Government Area.
“His enclave was severely destroyed by troops of Operation Hadin Kai, with hundreds of fighters neutralized.
“The man attempted to escape, but he was captured like a chicken.”
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SAD! Prospective Corps Member dies en route to Ebonyi NYSC camp
A prospective Corps member lost her life en route to the National Youth Service Corps (NYSC)orientation camp in Afikpo local government area of Ebonyi State.
The deceased was among a group of 12 prospective corps members who boarded a 14-seater bus to their destination.
Daily Trust learnt that the deceased was a members of 2024 Batch C Stream 11.
The deceased and her colleagues boarded the bus in Enugu and were heading to the NYSC camp when the bus belonging to Enugu North Mass Transit rammed into a truck by the roadside.
The female corps member, whose name could not be ascertained, was confirmed dead at King David Umahi Federal University of Health Sciences (DUFUHS) where others are receiving treatment.
Sector Commander of Federal Road Safety Corps (FRSC) in Ebonyi, Mr. Igwe Henry, confirmed the accident.
He said he had no further details of the casualties owing to the fact that the victims were rescued before his officers arrived the scene.
“At the time our men from Amasiri Unit Command got the information, and got to the scene, the victims had been rescued.
“So my men didn’t directly carry out the rescue exercise, and therefore could not ascertain the true position of what happened. Except that the crash occurred on 22nd January about 14.00 hours. The route was Amasiri-Okigwe, where they call Amenu village in Okposi.
“Two vehicles were involved, one was a Toyota commercial bus, grey color, and the other was a Mercedes-Benz tipper (truck), a commercial Mercedes-Benz tipper, the regular Tipper that you see around.
“So, from preliminary findings, it was allegedly caused by excessive speed on the part of the commercial vehicle, that is the bus.
“But the details as to the number injured and so on have not been ascertained, because like I said, the victims were actually rescued by bystanders and then taken to David Umahi Hospital in Uburu.
“And then the items recovered at the scene, I was told, is in the custody of one Chief Amos, of Amenu village in the same Okposi.
“At the King David’s Hospital, where my men went, the ones they saw were actually in stable condition,” he said.
The Ebonyi State Coordinator of NYSC, Foluke Oladeinde, visited the injured prospective corps members at the hospital.
“I am not in a right frame of mind to talk now. I am in the hospital now. Yes the accident occurred but I can’t talk right now,” she told journalists on Thursday.
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