Nigeria’s telecom industry has entered a new phase of momentum, and MTN is sitting at the very center of the comeback. Fresh data from the National Bureau of Statistics (NBS) show that the sector expanded by 21.49% in Q3 2025, marking one of its strongest performances in years and signalling a clear rebound from the sluggish growth that previously weighed down the industry.
The broader economy also strengthened, with real GDP rising 3.98% year-on-year, slightly higher than the 3.86% recorded in the same quarter of 2024. Economists link the improvement to the ongoing GDP rebasing and major policy reforms, including the fuel subsidy removal and the liberalised exchange rate, that reshaped investor confidence and boosted activity across key sectors.
Within this rebound, MTN emerged as the biggest driver of telecom growth. Mobile subscriptions in Nigeria climbed beyond 220 million, and MTN maintained a commanding lead with 87.5 million subscribers, representing 51.7% of the entire market. The surge in data consumption, alongside tariff adjustments and network optimisation, helped fuel MTN’s extraordinary turnaround.
The company’s financial performance reflects this momentum. MTN moved from a ₦514.9 billion loss to an impressive ₦750.2 billion profit within nine months, one of the strongest profit recoveries the telecom market has seen in a decade. Together with Airtel, total industry revenue hit ₦5.16 trillion, but MTN’s comeback story set the pace for the sector’s renewed stability.
Investment activity also picked up as MTN expanded its fibre footprint and accelerated preparations for broader 5G coverage. These infrastructure upgrades have helped stabilise the network at a time when consumers, though under economic pressure, continue to demand reliable data and digital services.
The ripple effect goes beyond the company itself. MTN’s profitability boost will translate to higher tax remittances, an important development as the federal government works to strengthen revenue in 2025. This trajectory aligns with projections from the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, who estimates that Nigeria’s digital economy could generate $18.3 billion by 2026.
The new economic data also highlight a more profound shift in Nigeria’s growth structure. The non-oil sector now makes up more than 96% of national output, underscoring the country’s gradual but steady move away from crude oil dependence. As one of the largest contributors to the non-oil economy, MTN is increasingly shaping Nigeria’s economic direction, powering digital expansion and supporting the long-term vision for a modern, technology-driven economy.
With its expanding subscriber base, solid investments, and renewed profitability, MTN stands not just as a telecom operator, but as a major force in Nigeria’s evolving economic landscape, helping build the digital backbone the country aims to scale by 2030.