In a remarkable surge, MTN Nigeria and Airtel Nigeria collectively generated N3.67 trillion in revenue during the first half of 2024, reflecting a significant increase in demand for data and voice services among Nigerians. MTN alone reported N1.27 trillion in revenue, with data services revenue soaring by 55% to N726.6 billion, while voice services revenue reached N541.3 billion. Airtel, on the other hand, reported $229 million in revenue for Q2 2024, with $112 million stemming from voice services and $117 million from data services. However, Airtel's voice revenue saw a sharp decline of 55.8% year-over-year [61174404].
This financial performance underscores the growing demand for digital services in Nigeria, even as the telecom sector grapples with rising operational costs and increasing calls for tariff hikes. The Nigerian Communications Commission (NCC) has introduced new guidelines aimed at improving customer service within the telecom industry, which could help address some of the challenges faced by operators like MTN and Airtel [61174404].
Amid these developments, MTN has also been embroiled in a tax dispute with the Osun State government, which claims the company owes N900 million in unpaid taxes related to its fibre optic installations. MTN has denied these allegations, asserting its compliance with local tax laws. The outcome of this dispute could further impact MTN's operations in Nigeria, particularly as the company continues to invest in infrastructure projects, such as its partnership with Odua InfraCo for fibre cable deployment [f4863d1f].
