In a remarkable show of investor confidence, MTN Nigeria Communications Plc has surged to a new record in the Nigerian equities market, reaching ₦400 per share for the first time since its listing on the Nigerian Exchange (NGX).
This historic rally reflects a significant turnaround for the telecommunications giant, whose shares had previously experienced a period of downturn. Analysts attribute the sharp uptick to renewed optimism surrounding the company’s earnings outlook, buoyed by regulatory tariff adjustments and a robust Q1 2025 financial performance.
According to official NGX data, MTN Nigeria’s stock hit the ₦400 mark after successfully surpassing all previous resistance levels, marking a new all-time high. The surge was driven by heightened trading activity, with over 1.9 million shares exchanged at a value exceeding ₦790 million. This indicates strong demand from institutional and retail investors alike.
Wednesday’s rally added ₦5 to the telco’s stock price, bringing the market capitalisation of its outstanding 20.995 billion shares to an impressive ₦8.398 trillion.
Market insiders say the renewed interest in MTN Nigeria follows the company’s return to profitability in early 2025, after navigating regulatory hurdles. The tariff hike approved earlier this year is expected to enhance revenue generation, setting the stage for sustained growth and stability in its operations.
