According to the company's recently issued 2021 full-year audited financial statement, MTN Nigeria's performance in 2021 was nothing short of stellar. Although the Federal Government's SIM card policy was "disturbing," it rebounded to continue making significant changes.
The Federal Government temporarily halted SIM card reactivation and sales at the beginning of 2021. By June 2021, MTN Nigeria has lost 1.98 million data customers due to this move. The general public couldn't have their own SIM cards. Those who had lost theirs were unable to find them. This was a persistent specter for MTN.
As it turned out, it wasn't simply MTN. The NCC reported a decline of 4.76 million active data customers in the second quarter of 2021, a 3.3% decrease.
MTN Nigeria would end in 2021 with 1.7 million more active data users than when it started. Given the perceived challenges, this is a notable feat, particularly in the year's first half. From November 2020 - to October 2021, the Nigerian Communications Commission (NCC) has revealed that the country's internet customers have declined by 14.5 million.
Following this, it has been established that the number of active data users has decreased. It's amazing how MTN managed to get the exact opposite outcome for themselves.
Increasing active data use has become a significant issue for the telecoms sector. This is the reason:
Nigeria had 104 million internet users as of January 2021. About half the population falls into this category. Revenue from data has grown at an exponential rate for each telecom each year.
MTN generated N164.79 billion in data revenue and N674.78 billion in voice revenue in 2018, respectively. N218.69 billion was generated in 2019; N332.37 billion is expected in 2020. Vocal income climbed from N723.92 billion in 2019 to N766.39 billion in 2020, a rise of 6.2 percent.
A total of N516.21 billion in income was generated from data in Nigeria last year. It is estimated that Voice generated N819.74 billion.
To put it another way, if investors, analysts, and senior management are to be taken into consideration, it's important to note that, in the next decade or so, the network provider that sets a proper precedent now for data investment and its subsequent growth will be the dominant player in this sector.
MTN Nigeria is making an effort to embed this marking in the earth permanently. With their technology and market concentration in this sector, they've had some success thus far.
According to a 2021 forecast, data revenue would account for as much as 55% of overall revenue. MTN Nigeria also made a big statement by speeding up the rollout of the 4G network. In his remarks, even the CEO, Karl Toriola, asserts that the 4G network currently covers more than 70 percent of the population.
That's not all; Toriola revealed that MTN Nigeria's long-term strategy includes deploying 5G. When the spectrum license was acquired in December 2021, consumers and stakeholders of the yellow network may rejoice in their firm foundations for the future. The 5G technology promises to improve network performance and growth in the future. As a result, MTN Nigeria will continue to be a major player in this new market. In this case, data will clearly and finally take the lead in income generation.
Despite MTN's recent 20th anniversary, these great efforts have already yielded huge benefits. In 2021, profit after tax increased by 45.5% to N298.7 billion. N2 trillion in revenues might be generated by 2022 if all things are equal. OVERALL REVENUE GREW from N1.35 trillion in 2018 to N1.65 trillion in 2019.
An increase of 44 percent in spending on advertising and sales promotion indicates an active marketing strategy. Operating profit and fat margins in fintech subscriptions, among other important characteristics.
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There is a palpable sense of rivalry in the air as MTN Nigeria's plane arrives. This year's outcome teaches us that change is essential. Businesses need to anticipate market shifts and be prepared to respond to them. We all want to see some data movement from our competition in the long run. For the time being, MTN Nigeria is the only one enjoying a good time.