MTN Nigeria To Exceed Again N1 Trillion on Annual Revenue
Quote from Ndubuisi Ekekwe on November 10, 2019, 3:43 PMMTN Nigeria seems to be making the N1 trillion annual revenue a ritual. The telco giant accomplished that last year. It seems to be on track to repeat the same for 2019 as revenue for the first 9 months has hit already N854.9 billion, TC Daily reports. Certainly, by the end of Dec 2019, that N1 trillion would be crossed.
MTN Nigeria has grown its revenues for the first nine months of 2019 to N854.9 billion ($2.4 billion) as it looks like to beat revenue figures from 2018. During the same period last year, the telco raked in N764.5 billion ($2.1 billion); while its full-year revenue later stood at over N1 trillion ($2.8 billion), becoming the first non-state owned company in Nigeria to reach the trillion naira range. However, its 2019 revenue could be bigger than last year's. So far, MTN's revenue growth this year has been driven by strong voice and data sales. It has also witnessed interesting growth in its handset and accessories business. Revenue for this activity grew to N848.8 million ($2.34 million), up from N177.3 million ($489,103) in 2018. MTN now has 61.6 million subscribers in the country and wants to expand its 4G network to reach more subscribers.
MTN Nigeria seems to be making the N1 trillion annual revenue a ritual. The telco giant accomplished that last year. It seems to be on track to repeat the same for 2019 as revenue for the first 9 months has hit already N854.9 billion, TC Daily reports. Certainly, by the end of Dec 2019, that N1 trillion would be crossed.
MTN Nigeria has grown its revenues for the first nine months of 2019 to N854.9 billion ($2.4 billion) as it looks like to beat revenue figures from 2018. During the same period last year, the telco raked in N764.5 billion ($2.1 billion); while its full-year revenue later stood at over N1 trillion ($2.8 billion), becoming the first non-state owned company in Nigeria to reach the trillion naira range. However, its 2019 revenue could be bigger than last year's. So far, MTN's revenue growth this year has been driven by strong voice and data sales. It has also witnessed interesting growth in its handset and accessories business. Revenue for this activity grew to N848.8 million ($2.34 million), up from N177.3 million ($489,103) in 2018. MTN now has 61.6 million subscribers in the country and wants to expand its 4G network to reach more subscribers.