MTN Nigeria recorded its first loss in 2023 because of a loss of forex. The naira recorded a massive loss to the US dollar in the second half of 2023, with a 95% drop. The company's revenue jumped from ₦1.04 trillion in 2018 to ₦2.47 trillion. While its profit after tax grew alongside the revenue from 2018 to 2022, it dropped from ₦349b to a ₦137b loss in 2023.
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