Chief Financial Officer of MTN Nigeria, Modupe Kadri, has said the telecommunications company has invested over ₦1.6 trillion in capital expenditure since January 2025 to strengthen network quality and improve service delivery across the country.
Speaking in an interview with ARISE News on Monday, Kadri said the investment reflects MTN’s commitment to expanding network capacity despite mounting operating costs and increasing demand for data services.
“Between January 2025 to date, MTN has actually spent over ₦1.6 trillion in capex.”
He disclosed that the company recorded more than ₦3 trillion in revenue, driven largely by strong growth in data services, which contributed about ₦1.7 trillion to total revenue.
Kadri stated that MTN now has about 55.6 million active data subscribers, attributing the growth to increased smartphone adoption, a youthful population and rising digital content consumption.
“We believe in providing a good quality network that Nigerians deserve to improve the quality of service.”
He explained that although customers continue to demand better service, network expansion is often affected by challenges beyond the company’s control, including fibre cuts, vandalism and landlords denying engineers access to telecommunications sites.
“There are some things that are outside our control, like fibre cuts and landlords locking us out of sites.”
According to him, MTN has also implemented several cost-efficiency measures, including renegotiating tower contracts, to cushion the impact of rising energy and operating costs.
On the company’s fintech business, Kadri said revenue declined during the period following the suspension of airtime lending services by regulators, but expressed optimism that structural changes within the business would drive future growth.
He revealed that MTN Nigeria plans to reduce its stake in its fintech subsidiary to allow MTN Group FinTech increase investment and focus on expanding financial inclusion initiatives, particularly in underserved rural communities.
Speaking on competition, Kadri said MTN welcomes healthy competition in the telecommunications sector, provided operators meet their regulatory obligations and invest sustainably.
“Competition is okay, but it must be sustainable.”
He also urged Nigerians not to equate revenue with profit, stressing that a significant portion of the company’s earnings goes into taxes, operating expenses and continued investment in network infrastructure.
Looking ahead, Kadri expressed confidence in the future of Nigeria’s telecommunications sector, calling for continued regulatory support and policies that encourage long-term investment.
“We have to do things that will enable world-class telecom services, and the sector needs continued support to achieve that.”
Ojo Triumph
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