MTN Nigeria Plc reached a new all-time high on the Nigerian Exchange (NGX), with investor enthusiasm buoyed by anticipation of strong Q2 2025 earnings and long-term industry growth prospects.
The telecom giant’s share price rose sharply from ₦357.50 to ₦395 by the end of the trading week—a 10.5% jump that placed the stock at its highest level in over a year.
Transaction records from the NGX showed that over 2.2 million shares of MTN Nigeria changed hands, generating a turnover of ₦885.59 million. The surge in trading pushed the telco’s market capitalization to ₦8.29 trillion, based on its 20.995 billion shares outstanding.
Market watchers attribute the investor confidence to regulatory-driven tariff adjustments and growing optimism around sector performance.
Cowry Asset Limited analysts revised their 12-month price target for MTN Nigeria to ₦568.80, projecting a 44% upside from current levels. The analysts cited strong fundamentals including accelerating data consumption, growth in mobile subscriptions, and the company’s deep penetration of digital services.
With the expansion of 5G infrastructure and a surge in demand for video, social media, gaming, and e-learning platforms, industry analysts expect average data usage to rise by 10–15% in H2 2025.
A mid-year outlook by Zedcrest Capital projected that active mobile subscriptions in Nigeria—currently at 172.9 million—will grow by 8–9% annually over the next three years, further benefiting market leaders like MTN.
The telco has also made strategic financial decisions to mitigate currency risk. It successfully renegotiated tower lease contracts and reduced its exposure to foreign exchange liabilities, a move expected to significantly enhance profitability.
As the company looks to solidify its financial position, MTN Group has disclosed plans to reduce its stake in the Nigerian unit via a public offering. This would proceed once MTN Nigeria returns to a net positive equity position and resumes dividend payments.
With investors betting on a continued earnings rebound and long-term industry growth, MTN Nigeria appears well-positioned for sustained market leadership.
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