31.2 C
Monday, March 27, 2023

MTN is Largest Listed Firm by Revenue in Nigeria

Must read

- Advertisement -
- Advertisement -

The acceleration in data usage by the young population who are data-centric has impacted positively on MTN Nigeria’s earnings as the telecom giant is the largest firm by revenue in the country.

Despite generating its sales from Nigeria alone, MTN Nigeria had revenues of N1.3 trillion as at December 2020.

And that compares with N1.20 trillion revenue of peer rival Airtel Africa; N1 trillion for the most capitalized company, Dangote Cement; Ecobank Transnational Incorporated, (N800 billion); Oando, (N700 billion); Zenith Bank, (N700 billion); Access Bank, (N700 billion); United for Africa, (N600 billion); FirstBank, (N600 billion), and Flour Mills, (N600 billion).

Notably, MTN (Group) is the silver lining of economic recovery as it has the lion share of the market, while it continues to speed up its 4G infrastructure with a view to magnifying its earnings.

According to the latest report by the National Bureau of Statistics (NBS), MTN retained its top spot with a market share of 39.5 percent (vs Q4 2019; 37.2 percent) trailed by Airtel (27.2% vs Q4 2019; 27.2%), GLO (26.8% vs Q4 2019; 28.0%), 9MOBILE (6.3% vs Q4 2019; 7.4%) and Others (0.2% vs Q4 2019: 0.2%).

For Internet subscription, MTN also took the lead with a market share of 42.4% (vs Q4 2019; 42.9%), followed by AIRTEL (26.8% vs Q4 2019; 27.4%), GLO (26.0% vs Q4 2019; 22.9%), 9MOBILE (4.6% vs Q4 2019; 6.4%) and Others (0.3% vs Q4 2019; 0.3%).

There is a positive prognosis for MTN and the future is bright because the outlook for data consumption and mobile payment is strong in all of the countries of operation that it operates.

Interestingly. young people across the globe are increasingly becoming addicted to data usage, and the proliferation of the smartphone is a catalyst for sporadic consumption of data that will spur MTN to growth.

Notably, internet subscription was bolstered by the accelerated usage of zoom, Microsoft team, goggle meet and video conferencing as the lockdown imposed by the government to curb the spread of the virus confined people to their homes.

The total number of active voice subscriptions declined by 0.32 percent Quarter on quarter (q/q) but rose by 10.78 percent year on year (y/y) to 204.6 million, according to the statistics body.

The statistics body added that the total internet subscriber base grew by 1.84 percent (q/q) and 22.38 percent (y/y) to 154.3 million. Using an estimated population of c.206 million, the mobile penetration and internet adoption rate stands at 99 percent and 75 percent, respectively.

Interestingly, the continued investments in improving internet infrastructure to accelerate 4G coverage across the country will help MTN magnify its market share across the continent.

“Also contributing, is the heightened competition among industry players for market share has also forced prices of data bundles lower, making internet usage very attractive to the average user, and perhaps this would eventually make data cheaper like it is in other markets,” according to analysts at CSL Stock Brokers Limited.

- Advertisement -
- Advertisement -

More articles


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -

Latest article