MTN Nigeria, the country’s largest telecom operator, reported that its data revenue reached ₦804 billion in the first nine months of 2024, surpassing voice revenue as demand for data surged across the company’s user base.
This milestone represents a shift in MTN’s revenue structure, with data now overtaking voice as the leading revenue stream for the telecom giant.
In its unaudited financial report for the nine months ending 30 September 2024, the operator disclosed that the increase in data usage was driven by expanded 4G coverage, higher smartphone adoption, and rising demand for digital services.
The ₦804 billion in data revenue reflects a 15 percent increase from the ₦701 billion earned during the same period in 2023.
In the third quarter alone, data revenue rose to ₦269.06 billion, underscoring the growing reliance on data services.
MTN Nigeria’s overall revenue for the nine-month period increased 34 percent year-on-year to ₦2.37 trillion, with data and digital services serving as key drivers.
Voice revenue for the same period stood at ₦701 billion, further highlighting the shift towards data-based services.
Karl Toriola, Chief Executive Officer of MTN Nigeria, stated, “In the first nine months of 2024, we sustained growth in our underlying operating performance—underpinned by our resilient business model and operational agility—despite challenging conditions.”