MTN and Airtel made N1.92tn from calls and data between January and September, 2022.
This is according to data from the financial results of MTN Nigeria Communications Plc and Airtel Africa’s Nigeria affiliate.Information Guide Nigeria
This is an 18.27% increase over the N1.62tn earned by telcos on calls and data in the same time in 2021.
MTN Nigeria disclosed that its users spent N753.78bn and N549.66bn on calls and data, respectively, while Airtel Nigeria customers spent N342.71bn ($780m) and N274.61bn ($625m) on calls and data, respectively.
MTN noted in its report that inflation, supply chain uncertainty, and foreign exchange scarcity were exerting financial strain on consumers and enterprises.
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It said, “Our operating environment remained challenging in the first nine months of 2022. The ongoing global macroeconomic and geopolitical volatility continued to drive up energy, food, and general inflation, with the annual inflation rate in Nigeria rising to a 17-year high of 20.8 per cent in September 2022.
“Supply chain uncertainties were exacerbated by the availability of foreign currency needed for capital expenditure. These headwinds continue to put severe financial pressure on consumers and businesses.”
Commenting on the growth of voice and data revenues, MTN Nigeria Chief Executive Officer, Karl Toriola, said, “Voice revenue grew by 4.4 per cent, maintaining a steady recovery as more customers are reactivated, and gross connections continue to ramp up.”JAMB Result
