MTN Nigeria Communications Plc has set a new record in the Nigerian capital market, becoming the first publicly listed company on the Nigerian Exchange (NGX) to attain a market capitalisation of ₦10 trillion. This historic feat was achieved as the company’s share price climbed to ₦480 at the close of trading, reflecting a ₦8 gain or 1.69% increase on the day.
The surge in MTN Nigeria’s valuation underscores strong investor confidence, bolstered by its robust financial performance and strategic market execution amid Nigeria’s volatile macroeconomic climate. The stock has recorded an impressive +136% year-to-date gain, with a 1-year growth of +148.42% and a staggering +300.34% increase over five years. In the past quarter alone, the stock has appreciated by 88.80%, supported by positive market sentiment and accelerated investments in infrastructure and technology.
The telecom giant’s financial report for the first half of 2025 highlighted a 54.6% surge in service revenue, a 119.5% rise in EBITDA, and a return to profitability, with profit after tax hitting ₦414.9 billion. MTN’s aggressive capital expenditure of ₦565.7 billion within the period has been pivotal in expanding its subscriber base, enhancing data services, and driving fintech innovation. The firm’s strategy, spearheaded by CEO Dr. Karl Toriola, aims at restoring balance sheet health and deepening digital infrastructure across the country.
MTN’s ₦10 trillion market cap not only represents a corporate milestone but also reflects the evolving maturity of Nigeria’s capital market. It signals increased investor appetite for high-growth, tech-driven equities and reaffirms the growing significance of telecommunications in Africa’s digital transformation. As MTN strengthens its play in mobile connectivity, fintech, and infrastructure, investors are optimistic about its role in powering inclusion, innovation, and economic resilience across Nigeria and the continent.