Business
Nigerians Spent N9trn On Airtime in 2025 – Report
Customers of the big four telecom operators in the country spent about N9 trillion on airtime for their voice calls and data in 2025, pushing up telecom operators’ revenue in the last financial year.
MTN Nigeria got about N5.3 trillion in total revenue from their N90.3 million customers’ airtime purchase for the year ended December 31, 2025. This pushed them back to record a profit after tax of N1.11 trillion.
Airtel Nigeria earned about N3.1trn in revenue from airtime sales from their 60.9m customers with data revenue marking rapid growth as smartphone adoption and internet penetration continue to rise across its network.
Though Globacom and T2/9mobile have not been publishing their detailed public financials, report puts industry analysts and analysis done at estimated combined revenue from airtime to be close to N2trn for 2025. Globacom has about 22.3m customers and T2 mobile has 3.3m customers.
The increase in airtime earnings was due to sharp rise in Average Revenue Per User (ARPU) recorded by the operators, according to some of their financial results and data by the Nigerian Communications Commission (NCC).
ARPU, a key telecom industry metric, measures the average amount each subscriber spends monthly on telecom services such as voice, data and digital products.
The full-year financial results released by MTN Nigeria showed that monthly ARPU rose to $3.60 in 2025 from $2.17 in 2024. If this is converted into the local currency, Naira, the company’s ARPU increased to N5,184.01 from N3,542.00.
This means that each customer on the network was spending an average of N5,184.01 per month in 2025.
This pushed the company’s revenue for the year to N5.2 trillion, a 55.1% increase when compared with the N3.3 trillion it recorded in 2024.
MTN disclosed that the number of active data subscribers grew by 11.6%, while smartphone penetration increased by 7.9 percentage points to 66.1%.
The company also recorded a 34% increase in data traffic, while average usage per subscriber rose by 20% to 13.1GB monthly, all of which boosted its ARPU.
In addition, MTN expanded its 4G population coverage by 2.1 percentage points to 84.6%, driven by accelerated investments in network infrastructure and service quality improvements.
As for Airtel Nigeria, monthly ARPU climbed to $2.4 in 2025 (full financial year ended March 31, 2026) from $1.7 in 2024.
In naira terms, the figure increased to N3,326.4 from N2,599.3. Despite the increase, an average customer on Airtel spends less monthly compared with MTN.
Airtel reported that its revenue grew by 47.4% in constant currency, largely driven by continued strength in the demand for data services and supported by tariff adjustments.
“In reported currency, revenue grew by 52.8% to $1,598m with Q4’26 revenue growth at 54.7% (40.2% in constant currency).
“The constant currency revenue growth was driven by ARPU growth of 36.7% and customer base growth of 9.4%,” the company stated.
The company’s data revenue increased by 63.6%, supported by growth in both data customers and data ARPU.
Airtel said data customer growth stood at 8.1%, while data ARPU expanded by 49.2% during the year.
Airtel Nigeria also recorded a significant rise in internet consumption, with average data usage per customer increasing by 30.8% to 11GB monthly from 8.4GB recorded in the previous year.
The increase in customer spending followed the implementation of the 50% telecom tariff adjustment approved by the NCC early last year, which raised the prices of voice calls, SMS and data bundles across the industry.
With the increment, the cost of an SMS, which stood at N4.00 for several years, was increased to N6.00, while voice call and data tariffs were also increased accordingly.
But the growing data consumption among Nigerians was identified as a major factor in lifting telecom revenues and subscriber spending.
According to the NCC, data consumption in Nigeria has been growing at an unprecedented level between last year and this year.
The Executive Vice Chairman of the NCC, Dr. Aminu Maida, disclosed recently that Nigerians are now consuming about 45,800 terabytes of data every day, reflecting the country’s rapidly growing dependence on internet services and digital platforms.
Maida said the daily consumption brought total consumed data in March 2026 to 1.42 million, compared with 995,000 terabytes recorded within the corresponding period of 2025.
However, the NCC boss said the increase in data usage by Nigerians is also putting a strain on the telecom networks, a development that has led to the poor service quality experienced by subscribers in some places recently.
But the NCC said the operators are responding to this challenge by increasing their investments in network capacity expansion. He also said the federal government is actively making efforts to stabilise the network quality.
Business
Trade Fair Board Backs NAFDAC Crackdown
The Lagos International Trade Fair Complex Management Board (LITFCMB) has condemned the use of its facility for the production of counterfeit products and other illegal activities, pledging to work with regulatory and law enforcement agencies to rid the complex of such practice
The board also commended the National Agency for Food and Drug Administration and Control (NAFDAC) for its recent enforcement operation, which led to the arrest of two persons allegedly linked to the illegal revalidation of expired drinks and the production of counterfeit consumables within the complex.
In a statement issued on Wednesday, the Executive Director and Chief Executive Officer of LITFCMB, Veronica Safiya Ndanusa, said the activities were contrary to the board’s commitment to promoting legitimate trade and ethical business practices.
She disclosed that relevant authorities had commenced investigations to establish the facts surrounding the incident and identify measures to prevent a recurrence.
Ndanusa warned that individuals and businesses found culpable of engaging in activities that endanger public health or undermine the integrity of local manufacturing would face the full weight of the law.
“As a body rooted in the principles of ethical business practices, transparency and genuine trade, we strongly condemn any activity that threatens public safety or brings the reputation of the Lagos International Trade Fair Complex Management Board into disrepute,” she said.
“Our facility exists to provide a conducive environment for legitimate businesses to thrive, not to serve as a breeding ground for the production or distribution of counterfeit and substandard products.”
The board chief assured members of the public that the management would collaborate with relevant regulatory and law enforcement agencies to ensure that the complex remained free of illegal activities.
She also urged traders and business operators within the facility to comply with established standards, stressing that the pursuit of profit must never come at the expense of consumers’ health and safety.
Business
Not The Right Time To Impose New Taxes , Oyedele Warns Governments
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has cautioned governments against introducing new taxes or increasing existing tax burdens on vulnerable citizens and productive sectors, warning that such measures could deepen economic hardship.
Oyedele spoke on the sidelines of the 2026 annual meetings of the International Monetary Fund (IMF) and World Bank in Bangkok, Thailand, where he presented a communiqué on behalf of the Intergovernmental Group of Twenty-Four (G24), which he chairs.
“This is the wrong time to impose new taxes or increase the burden of tax, particularly on the vulnerable population and productive sectors of the economy,” he said.
Responding to questions on how developing countries could reduce debt-servicing costs without cutting essential public spending,report quoted Oyedele as urging governments to identify waste, find savings and improve revenue collection before placing additional financial pressure on citizens and businesses.
He said borrowing remained necessary to finance economic growth but stressed that governments must ensure that debt supports job creation and inclusive development.
“Borrowing and debt financing is a necessary condition for growth, and every country emerging, developing must be able to apply debt financing in a way that is overall of positive impact, particularly to stimulate job-rich and inclusive growth,” he said.
The minister also called for available public funds to be prioritised for essential services, including healthcare and education, while private capital could help finance other areas of investment.
On the choice between taxation and borrowing, Oyedele said both options carried consequences and should be considered in the context of their impact on household welfare.
“If you collect taxes, you raise the money now, and that itself has a lot of trade-offs. What taxes are you collecting? You collect taxes from the most vulnerable, and this will deprive them of money to provide food, health, education,” he said.
He argued that excessive taxation could leave low-income households with less money for basic needs, while borrowing also carried future obligations.
“Debt is future taxes, so it’s not one or the other. It’s to strike a balance, bearing in mind ultimately that the essence of tax and of debts is to cater for the people,” Oyedele said.in the report.
Business
Fayemi Explains Why America Must Have Nigeria As Partner
Former Governor of Ekiti State and ex-Minister of Mines and Steel Development, Dr Kayode Fayemi, has warned the United States against slipping into isolationism in its engagement with Africa, insisting that Nigeria remains a must-have strategic partner in the evolving global order.
Fayemi maintained this position in Lagos while speaking as a panelist at the Nigeria Moment, a Nigeria–United States Strategic Dialogue organised by the American Business Council in collaboration with the Heritage Foundation.
In his presentation, which focused on why Nigeria is a must-have partner in the changing world order, Fayemi,former chairman of the Nigeria Governors’ Forum (NGF) stressed the need for a more holistic relationship between both countries grounded in transparency, mutual benefit and shared prosperity.
He insisted that Nigeria must be treated as a strategic partner in the emerging world order.
“While welcoming the growing American interest in Nigeria’s vast mineral endowment, Fayemi warned that the partnership must go beyond resource extraction.
“Nigeria must be engaged as a strategic actor and a co-creator in shaping the future of global energy and resource governance, rather than as a testing ground for experiments. A partnership built on mutual respect, shared interests and long-term cooperation offers the strongest foundation for an enduring relationship between Nigeria and the United States,” Fayemi said.
Describing the engagement as a pleasure, Fayemi said the dialogue brought together a distinguished group of policymakers, business leaders and strategic thinkers to reflect on the future of Nigeria-US relations.
He commended the convener of the dialogue, Mr Ayo Otuyalo,for an excellent convening and for bringing together such high-level participants for the important strategic conversation.
The conference featured Governor Babajide Sanwo-Olu of Lagos State as keynote speaker, alongside senior representatives of the Federal Government, including the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole; Minister of Power,
Also st the event were : Engr Joseph Tegbe; Minister of Solid Minerals Development, Mr Dele Alake, represented by Engr Simon Nkom; and the Head of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyinwa Eyesan among others.
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