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Pantami Praises MTN for Appointing Nigerian CEO

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l-r: Ernest Ndukwe, chairman, MTN Nigeria; Dr. Isa Pantami, minister of Communications and Digital Economy; and Karl Toriola, CEO-designatee
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Dr. Isa Pantami, minister of Communications and Digital Economy, says the government is pleased with the appointment of a Nigerian to lead MTN Nigeria, the country’s leading provider of telecommunications and ICT services, as well as the second largest company on the Nigerian Stock Exchange.

Pantami said this during a courtesy visit by Ernest Ndukwe, chairman, MTN Nigeria; Karl Toriola, CEO-designate, and Tobechukwu Okigbo, chief corporate services officer.

The primary aim of the visit was to officially introduce the CEO-designate to the Minister, as well as demonstrate commitment to the MTN Nigerianization Agenda – an initiative of the MTN Group, which is geared at increasing local participation in the company’s top management as well as promote local content.

MTN currently employs over 19,000 Nigerians and contributes at least 4.5% to the country’s GDP, according to its 2018 financial reports.

According to Ndukwe, plans are underway to give Nigerians more access to the MTN opportunity.

“In spite of the current limitations, we are working with stakeholders to increase local ownership of MTN Nigeria and at the same time increase equity in Nigeria’s capital markets,” he added.

Pantami also praised MTN Nigeria for its corporate social investment activities through the MTN Foundation, which has transformed several lives and communities. MTN Foundation has invested over 22 billion Naira in several initiatives across the country in 16 years.

The Minister reaffirmed the commitment of the Federal Government towards providing an enabling environment for the telecommunications sector to thrive, with the ultimate goal of ensuring the satisfaction of Nigerians.

He stated, “The priority of this government is the security and welfare of its citizens and as much as we are committed to making our economy business-friendly for investors, we will always put the satisfaction of our citizens as priority”.

In response, Toriola, a graduate of Electronic and Electrical Engineering from Obafemi Awolowo University who has spent 14 years at MTN and was until recently Vice President for West and Central Africa, praised the Minister for his leadership and innovation in the telecommunications sector which has seen to the development of the National Broadband Plan 2020 – 2025 and the Digital Economy agenda.

He restated MTN’s commitment towards complying with the policies introduced by the government and maintaining continuous partnership with relevant stakeholders for the advancement of the digital economy.

“We will key into any government policies and initiatives and are willing and open to any collaborations and partnerships that will further advance the digital economy cause,” Toriola stated.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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History as MTN Nigeria Becomes First to Hit ₦10 Trillion Market Cap @ NGX

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MTN Nigeria Communications Plc has achieved a historic milestone, becoming the first listed company on the Nigerian Exchange Limited (NGX) to reach a market capitalization of ₦10 trillion, as its share price closed at ₦480 on Friday, August 1, 2025.

istory as MTN Nigeria Becomes First to Hit ₦10 Trillion Market Cap @ NGX

The telecommunications giant’s shares gained ₦8 or 1.69% during Friday’s trading session, pushing the company’s market value past the ₦10 trillion threshold.

This remarkable achievement comes just two days after MTN Nigeria released its stellar half-year 2025 financial results on Wednesday, which showed exceptional performance across all key metrics.

The timing is not surprising based on what was said in the company’s H1 results, which revealed a dramatic turnaround from losses to profitability.

The telecoms operator reported service revenue growth of 54.6% to ₦2.4 trillion, while EBITDA surged by 119.5% to ₦1.2 trillion with margins expanding significantly to 50.6%.

Most importantly, the company achieved a profit after tax of ₦414.9 billion, marking a stunning recovery from the loss of ₦519.1 billion recorded in the same period last year.

Speaking on the H1 2025 results that have driven investor confidence, Karl Toriola, CEO, MTN Nigeria, said: “We are excited by the progress made in the first half of 2025, reflecting the successful execution of the strategic priorities we previously communicated to the market.”

Toriola emphasized the company’s strong operational momentum, stating: “Building on the momentum from the first quarter, we delivered strong growth in service revenue for the period under review. This was driven by robust demand for our services, proactive customer value management and price adjustments, mainly in Q2.”

The CEO’s confidence in the company’s trajectory was evident in his commentary about future prospects.

“In light of the strong momentum in our business, we have upgraded our FY 2025 and medium-term guidance and we remain firmly on track to restore our balance sheet to a positive net asset position by the end of Q3,” Toriola declared.

This optimistic outlook, backed by upgraded financial guidance targeting service revenue growth of “at least low-50%” and EBITDA margin of “at least low-50%” for FY 2025, has clearly resonated with investors.

Toriola highlighted improving operating conditions that have supported the company’s performance: “The macroeconomic conditions in Nigeria showed notable improvements in the period under review, including a relatively stable naira, improved foreign exchange (forex) liquidity and easing inflationary pressures.”

He noted that “this backdrop helped to enable our improved business performance and set a more supportive context for increased long-term investments.”

The ₦10 trillion market cap milestone represents extraordinary value creation for shareholders.

 

 

 


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Vitel Wireless Rolls Out 50,000 SIM Cards, eSIMs

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Vitel Wireless, a   mobile virtual network operator (MVNO), has announced the official launch of its nationwide network services in Nigeria.

In a statement, the company stated that starting yesterday August 1, it will release an initial batch of 50,000 SIM cards and eSIMs across all 36 states and Federal Capital Territory (FCT) to selected subscribers, bringing reliable, affordable, and high-quality connectivity to millions of Nigerians.

This milestone, it said, marks its commitment to transforming Nigeria’s telecommunications landscape by providing accessible and seamless mobile services to both urban and rural communities.

Commenting on the launch, Kenneth Nwabueze, executive chairman of Vitel Wireless Limited, said: “We are excited to bring Vitel Wireless’s innovative services to Nigeria, a vibrant and dynamic country with immense potential. Our goal is to deliver dependable connectivity that enables Nigerians to connect, communicate, and thrive in the digital age. This rollout is just the beginning — we look forward to expanding our services and making a positive impact across the nation.”

According to the company,  with a focus on innovation, affordability, coverage, and customer satisfaction, it aims to bridge the digital divide and foster inclusive growth.

“More than half of the initial release will be made available through authorised retail outlets, Vitel Wireless Airport Kiosks, and mobile kiosks utilising Know Your Customer (KYC) verification via NIMC’s new SIM-NIN telecommunications registration platform.

“The remaining SIM cards will be allocated to subscribers for innovative value-added services, including Internet of Things (IoT) solutions, Safer Home AI camera systems (iSEEYOU), employment performance monitoring App (Oga-App), and location-based services solutions such as SecurMe and Push-My Location, among others. This initial deployment enables the company to rigorously test its network, optimise its MTN roaming partnership, and implement necessary adjustments prior to the full-scale launch in Q2 2025,” it added.

 


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MTN Nigeria Celebrates Super Falcons with ₦150 Million Reward After WAFCON Triumph

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L-R: Dr. Muhammed Sanusi, General Secretary, Nigeria Football Federation; Dr Karl Toriola, CEO, MTN Nigeria; Rashidat Ajibade, Captain, Super Falcons; Ifueko Okauru, Director, MTN Nigeria; Chiamaka Nnadozie, Goalkeeper, Super Falcons and Alhaji Ibrahim Gusau, President, Nigerian Football Federation at an MTN Super Falcons Breakfast Reception held at Eko Hotel & Suites, Victoria Island, Lagos on Thursday, July 31, 2025.
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MTN Nigeria has rewarded the Nigerian Super Falcons with 150 million naira following their remarkable victory at the 2024 Women’s Africa Cup of Nations (WAFCON).

The announcement was made at a celebratory breakfast reception hosted by the technology company in Lagos, in the presence of Nigerian Football Federation (NFF) leadership and female executives across key sectors, alongside a host of MTN executives who came out to celebrate the champions and reaffirm the company’s commitment to football, inclusion and youth empowerment.

The Super Falcons’ win goes down as one of the most thrilling in tournament history. Facing Morocco on their home soil, Nigeria came back from 2-0 down to secure a dramatic 3-2 victory, clinching their 10th WAFCON title and reinforcing their status as Africa’s most decorated women’s team.

Delivering the opening remarks, MTN’s Chief Marketing Officer, Onyinye Ikenna-Emeka, highlighted the Super Falcons’ win as an inspiration for Nigerian women. “The Women’s African Cup of Nations (WAFCON) is a championship that has been held 13 times and Nigeria has won 10 times. This is no small feat. It is a testament to how determined Nigerian women can be when they set out to achieve something. What you have achieved not only makes Nigeria proud, but it makes us, even we women, proud. Here at MTN, we believe, and one of our values is ‘Can Do’, can do with integrity. Your final match exemplifies that.”

As the official telecommunications partner of the NFF, MTN presented the 150 million naira reward to celebrate the team’s resilience and achievement. MTN director, Ifueko Okauru explained that 115 million naira would go to the players and 35 million to the technical team.

“At MTN we believe in the power of connection, not just through technology, but through our soul, through our spirits, what we share and what unifies us,” said Dr. Karl Toriola, CEO, MTN Nigeria.

Toriola described the company’s investment in the NFF as fruitful. “As proud sponsors of the Nigerian Football Federation, this long-term significantly financially-heavy investment in supporting the NFF has borne so many fruits. We followed you through every match, every challenge, every trial and some of them losses. We followed you and we continue to support you and today we are so proud to say our efforts have not been in vain. We followed you for the big things, we followed you for the smaller things.

He added, “To the Super Falcons, you are more than athletes, you are inspirations. You are an inspiration for everyone in Nigeria, every young lady to go out there and make a difference. You are role models, you are ambassadors, and you are proof that when Nigerian women rise, the world will take notice.”

Captain of the Super Falcons, Rashidat Ajibade, thanked MTN and its board members for their warm reception and support. “We appreciate you a lot. We feel valued, we feel honoured, we feel respected, and this only inspires us to do better, and keep inspiring the next generation.”

“This win is for all of us,” she said, dedicating the 10th title not just to the current Super Falcons squad but to all the players who came before. While grateful for the milestone, she made it clear they were not content. “We want to take this to the next level. We want to be global contenders. We don’t want to be just local champions. It’s time to take it to the next level. We understand the huge responsibility on us, and we hope that we can all work together, the Federation, the federal government, and also private bodies to keep investing and keep supporting the Super Falcons Council so we can all achieve this objective.”

The breakfast reception featured a classical string quartet, stirring soul-Afrobeats choir rendition that had the Falcons on their feet, dancing joyfully in celebration of their hard-won victory. Singer Praiz also delivered a performance that drew cheers from the audience and added to the festive energy in the room.

As the nation continues to celebrate their victory, this moment stands as both a reward and a reminder of what Nigerian women can achieve when backed by belief, investment and opportunity. The celebration was especially timely as it fell on Pan African Women’s Day, a fitting moment to honour the strength, resilience and achievements of Nigerian women on and off the pitch.


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