MTN Nigeria recorded its first loss in 2023 since its Initial Public Offering

MTN Nigeria’s revenue and profit after tax over the years

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.

Source:

MTN Nigeria

Period:

2018 - 2023

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MTN Nigeria recorded its first loss in 2023 since its Initial Public Offering

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