x

MTN, Airtel rake in N1.92tn from calls, data in 9 months

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 subsidiary.

This is an 18.27 per cent increase from the N1.62tn that was earned by the telcos on calls and data in the corresponding period of 2021.

MTN Nigeria revealed that its customers 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.

In its result, MTN stated that inflation, supply chain uncertainties and foreign exchange scarcity were putting financial pressure on consumers and businesses.

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.”

MTN’s result disclosed that data traffic grew by 70.6 per cent y-o-y, while Airtel revealed that data usage per customer increased to 4.8 GB per month (from 3.9 GB in the prior period).

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.”

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalistAs...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

FG setup LOC Guinness World boxing championship fight 3 times but…Host revealed 

By Achadu Gabriel, Kaduna Federal Government of Nigeria has, on...

SENATOR LALONG INAUGURATES PROJECTS IN PLATEAU SOUTH SENATORIAL DISTRICT 

Senator representing Plateau South Senatorial District Simon Bako Lalong...

The Kogi East Zonal VC of APC, late Hon. Mikhail Mohammed laid to rest in Odu

By Noah Ocheni, LokojaThe Kogi East Zonal Vice Chairman...

Plateau South Senator Lalong inaugurates projects in his Senatorial district 

By Israel Adamu,JosSenator representing Plateau South Senatorial District Simon...

KOGI YOUTHS CALL ANTI-AKPOTI-UDUAGHAN’S CAMPAIGNERS ENEMIES OF DEMOCRACY

·     URGE NIGERIANS TO IGNORE ODODO, FANWO·     MOVE TO PREVENT KOGI...

NATIONAL POLICE DAY: SOKOTO  POLICE COMMAND  CELEBRATE DAY

By Muhammad Ibrahim, Sokoto In continuation to mark National Police...

Tinubu political adviser, Hakeem Baba Ahmed resigns from.office 

By Achadu Gabriel, KadunaDr. Hakeem Baba-Ahmed, the political adviser...

PLATEAU APC LEADER SENATOR LALONG HOLDS MORE ENGAGEMENTS WITH STAKEHOLDERS 

Senator representing Plateau South Senatorial District Simon Bako Lalong...
spot_img

Related Articles

Popular Categories

spot_imgspot_img