MTN Nigeria posts some strong pandemic-defying 2020 numbers

MTN Nigeria posts some strong pandemic-defying 2020 numbers

Even though a pandemic ravaged most businesses, MTN Nigeria has been able to post some strong numbers.

If anything, this shows us that the Nigerian economy is still very much viable for business and is poised to bounce back stronger against the effects of the pandemic.

From the stables of the telecommunications giant, we have that the user base of the company increased by 7.4 million in the year 2020 alone. This means that the company now boasts nothing less than 32.6 million subscribers across the entire country.

A cause for concern is the earnings before tax, interests and other deductions. While it grew by 9.7% to NGN685 billion, the entire earnings after tax declined by 2.5 percentage points. That is in comparison to a strong year when there was no pandemic so these numbers are still pretty solid, given the situation of things.

It is not all rosy for the telco, though.

For example, they saw a 7.4 million decline in the number of their active data users. If there is a saving grace, though, it is that their earnings per share soared to NGN10.1, representing an 0.9% increase.