Giant Telecommunication Firm, the MTN Nigeria has announced the loss of eight million subscribers last year, 2021. The number of subscribers declined from 76.5 million in 2020 to 68.5 million in 2021.
This is contained in the Firm’s audited report for the full year ended December 31, 2021, obtained from the Nigerian Exchange Group (NGX).
The report reveals that active data subscribers grew 5.3 per cent in the same period to 34.3 million active subscribers in 2021, from 32.6m in 2020.
In terms of revenue, the telecom giant recorded N1.65 trillion for the year ended 2021, compared to N1.34 trillion obtained in the previous year.
The firm’s voice revenue grew by 8.4 per cent to N971.44 billion in 2021, from N895.97 billion in 2020.
Similarly, the data revenue grew by 55.3 per cent to N516.14 billion, from N332.4 billion in 2020.
Its profit after taxation jumped 45.5 per cent to N298.65 billion in 2021, from N205.21billion in the corresponding period.
In the report, the company’s Chief Executive Officer, Karl Toriola described MTN performance in the past year as ‘quite significant.
Toriola said: “We commemorated our 20th anniversary with a celebration of our customers and all the stakeholder relationships that enabled our journey. In addition, we made good progress towards our ambition 2025 objectives, demonstrating the strength and resilience of the business.
“During the year, our total contribution to the Government through direct and indirect taxes was N669.2bn, up 83.4 per cent, representing approximately 40 per cent of our total revenue. “We extended our interventions, in response to the challenges to our nation arising from the COVID-19 pandemic, providing a further N1.5 billion to the Coalition Against Covid-19 (can Ovid) in support of efforts aimed at curbing the spread of the virus.”
