MTN and Airtel, in a period of nine months, earned N1.92 trillion from the call and data services they rendered to their customers.
The N1.92 trillion earnings from the call and data services the telcos rendered between January and September 2022, represents an increase of 18.27% from the N1.62 trillion they made in the corresponding period of the previous year (2021).
In its financial statement, MTN disclosed that its customers spent N753.78 billion and N549.66 billion on calls and data respectively. On the other hand, Airtel said its customers spent N342.71 billion and N274.61 billion on the same services, respectively.
More so, while MTN’s data traffic grew by 70.6% year-on-year, Airtel revealed that its data usage per customer increased to 4.8 GB per month (from 3.9 GB in the prior period).
“Voice revenue grew by 4.4%, maintaining a steady recovery as more customers are reactivated, and gross connections continue to ramp up,” the Chief Executive Officer (CEO) of MTN Nigeria, Karl Toriola stated as he commented on the telco’s growth of voice and data revenues.
MTN, however, lamented how inflation, foreign exchange (fx) scarcity, and supply chain uncertainties, have been mounting pressure on its customers.
“Our operating environment remained challenging in the first nine months of 2022. The ongoing global macroeconomic and geopolitical volatility continued to drive up energy, food, and general inflation, with the annual inflation rate in Nigeria rising to a 17-year high of 20.8% in September 2022.
“Supply chain uncertainties were exacerbated by the availability of foreign currency needed for capital expenditure. These headwinds continue to put severe financial pressure on consumers and businesses,” the company stated.
