MTN Nigeria says its total subscribers
increased by 1.3 per cent to 77.7 million, as at March 31, 2024, from 76.7 million recorded in the same period of 2023.

MTN Nigeria’s Chief Executive Officer, Mr Karl Toriola, said this in the company’s unaudited financial statement sent to the Nigerian Exchange Ltd.(NGX) in Lagos.

Toriola said that the subscribers, however, dropped by two million, compared to the year ended December 2023, due to the implementation of the NIN-SIM directive, which affected the development of its user base.

He said that the telecommunications service provider’s active data users increased by eight per cent to 44.5 million in the quarter under review, compared to 41.2 million posted in the same quarter of 2023.

According to him, active mobile money (MoMo PSB) wallets of the service provider increased by 48.7 per cent to 4.8 million in first quarter of 2024, from 3.2 million recorded in first quarter of  2023.

Toriola said that the firm’s total revenue also increased by 32.5 per cent to N752.98 billion in the period under review, as against N568.13 billion posted in the corresponding period of 2023.

The managing director stated that the Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) of the telecommunications company, however, declined by 1.9 per cent to N297 billion as at March 31, 2024.

This is compared to N303 billion posted in the same quarter of the previous year.

According to him, the firm recorded a net loss of N392.69 billion for the quarter under review, indicating 462.2 per cent decline, compared to N108.43 billion posted in the same quarter of 2023.

The managing director stated that the company’s net loss for the quarter resulted in a further increase in its accumulated losses and negative
shareholders’ funds to N599.2 billion and N434.7 billion, respectively.

Toriola explained that severe macroeconomic headwinds overshadow the strong operating performance of the firm.

He said: “The operating environment in the first quarter remained very challenging, with rising inflation and continued naira depreciation off an already low base.

“The Naira depreciated to an all-time low of N1,627/per dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) in march, from N907 per dollar at the end of December 2023, before moderating to N1,309 per dollar by the end of the quarter.

“Additionally, the inflation rate maintained an upward trajectory, rising to 33.2 per cent in march, with an average rate of 31.6 per cent in the quarter.

“During the quarter, we also continued to manage the effects on our business of the industry-wide directive of the Nigerian Communications Commission (NCC) for a full barring of subscriber lines not linked to their National Identity Number (NIN) – the NIN-SIM directive.

According to him, this impacted the
development of the telecommunications service provider’s user base across all of its key business units (voice, data and fintech) in the first quarter.

Toriola said MTN implemented the directive on subscribers who did not submit their NIN and those with more than five lines linked to an unverified NIN.

He noted that despite these challenges, the telecommunications service provider remains committed to serving its customers.

Toriola said MTN would also accelerate the growth of its commercial operations with discipline, focus on value-based capital allocation and expense efficiencies.

In a recent revelation from the Nigerian Communications Commission (NCC), Airtel Nigeria has emerged as a standout performer in the country’s telecommunications sector, marking significant gains in market share over the past year. According to the NCC data, by the end of March 2024, Airtel Nigeria has grown its market share over the last year into a remarkable 29 percent, solidifying its position as a leading telecom provider in the region.

In stark contrast, other mobile network operators such as MTN and 9mobile have faced considerable setbacks, with MTN witnessing a notable 3.19 percent decline in market share and 9mobile experiencing a 0.5 percent decrease. Even Glo, a prominent player in the market, saw a decline, albeit less pronounced, with a 0.58 percent drop in its share of internet subscribers.

Airtel Nigeria’s success story goes beyond market share gains. The company has also witnessed a substantial surge in its share of internet subscribers, boasting an impressive 165 percent basis points increase. This surge correlates with the launch of Airtel 5G, which the company began rolling out in June 2023 and underscores the telco’s continued push to grow its customer base nationwide.

Airtel Nigeria’s ascendancy in the telecom market comes at a pivotal moment when mobile network operators face challenges of rising operations cost and exchange rates volatility. The company’s recent results solidify its position as a frontrunner in Nigeria’s telecom landscape.

By Ayodele Babalola

April 26 marks an extraordinary milestone as the Director-General of the National Identity Management Commission (NIMC), Engr. Abisoye Coker-Odusote, one of Nigeria’s finest female professionals celebrates her 40th birthday.

Reflecting on Coker-Odusote’s 40 years of existence, it is clear that her journey had been nothing short of extraordinary and remarkable strides.

From humble beginnings to her current position at the helm of NIMC, she has overcome numerous challenges and obstacles with grace and resilience. Her story is a robust proof of perseverance and determination. It is a stark reminder that with hard work and dedication, anything is possible.

For those who have followed her trajectory closely, Abisoye Coker-Odusote embodies the essence of visionary leadership. This is no surprising given the altitude of her fledging career. Her rise to prominence has been characterised by a relentless pursuit of innovation and efficiency. Since her assumption of office last year as the NIMC boss, the commission has undergone a profound evolution, embracing cutting-edge technologies and pioneering innovative solutions to address the challenges of identity verification and authentication in the country. Coker-Odusote has not only achieved extraordinary milestones but has also set new standards of excellence in the field of identity management.

Her leadership has led to unprecedented growth and progress in NIMC, significantly advancing the country’s digital identity infrastructure. One of Engr. Coker-Odusote’s most notable achievements is her relentless advocacy for the adoption of digital identity solutions, which enhance security, efficiency, and inclusivity. She has spearheaded groundbreaking projects that aim to expand access to digital identity services, particularly in underserved communities.

Under her guidance, NIMC has played a pivotal role in empowering millions of Nigerians with secure and verifiable identities, laying the foundation for a more inclusive and digitally enabled society. Additionally, she has expedited the enrollment and distribution of National Identification Numbers (NINs) to all Nigerians and legal residents while also streamlining and integrating existing identity databases across the country.

Engineer Coker-Odusote’s impact extends far beyond the confines of her role at NIMC. She is a tireless advocate for inclusive identity management policies, recognising the fundamental importance of ensuring that every Nigerian has access to secure and reliable identification. Her advocacy efforts have contributed to greater awareness and engagement on issues of identity management, paving the way for meaningful change and progress.

To delve into her credentials and wealth of experience is to probe into a horde of narratives of excellence. With over 18 years of experience in managing complex and sensitive projects across various sectors, Coker-Odusote is a professionally trained tech enthusiast who has held roles that improved stakeholders’ engagements and execution of digital transformation projects.

She had once served as the General Manager/CEO of the Lagos State Infrastructure Maintenance and Regulatory Agency (LASIMRA), where she oversaw vital utility infrastructure providers – telecommunication, power, and gas operators – to promote standards and procedures in infrastructural development and maintenance.

Her impressive journey also includes serving as the Head of Information Technology & Communication at Bate Litwin, an engineering company working on projects such as Chevron ESA (JV with Atlas). Coker-Odusote’s diverse experience also encompasses her time in the United Kingdom and Nigeria.

Indeed, prior to the announcement of her appointment by President Bola Tinubu, she was the General Manager/CEO at LASIMRA where as, earlier noted, she supervised crucial utility infrastructure providers, including telecommunication, power, and gas operators.

Beyond her professional accomplishments, she is also a passionate advocate for gender equality and women’s empowerment in STEM fields. As a trailblazing female leader in a male-dominated industry, she serves as a role model and mentor to aspiring women in technology, inspiring them to pursue their dreams and break down barriers to success. Through her leadership and advocacy, Coker-Odusote is helping to create a more diverse and inclusive workforce, where talent and innovation thrive regardless of gender.

On this day, we pay tribute to Coker-Odusote’s outstanding achievements, innovative leadership, unwavering commitment to excellence, and profound impact on Nigeria’s identity management landscape.

She is an inspiration to us all, motivating us to continue striving for excellence and to never lose sight of our goals. As she enters a new decade of her life, may her journey be filled with even greater success, fulfillment, and prosperity.