Telecom
FG Generates $547M from 5G Spectrum Auction
President Muhammadu Buhari has commended the auctioning of the 5G spectrum, which generated 547 million dollars. The president attributed the feat to the digital economy, which had driven growth, created employment and generated revenue for the country.
The president said this at the National Shared Services Centre, a one-stop-shop for Ministries, Departments and Agencies to (MDAs) interface with citizens, which also houses a Cyber Security Operations Centre, Network Centre and Call Centre in Abuja on Tuesday.
According to the president, the National Shared Services Centre will provide services that are “swift, secure and seamless’’. Buhari noted that the Information, Communication and Technology Sector (ICT) had accelerated diversification of the economy.
He said the Q2 Gross Domestic Product Report by the National Bureau of Statistics showed the extent of growth, with the ICT contributing an unprecedented 18.44 per cent to the GDP, close to three times the 6.33 per cent contribution of the oil sector in the same quarter.
“As part of our efforts to expand our digital infrastructure; we increased our 4G base stations from 13,823 to 36,751 from August 2019 to date, and this has increased the percentage of 4G coverage across the country from 23 per cent to 77.52 per cent also from August 2019 to date.
”We have also followed this up with roll-out of 5G services. It is noteworthy that the digital economy sector has excelled in generating revenue for the government.
”In particular, at the Ministerial Retreat that I chaired from the Oct. 18 to Oct. 19, 2022, our independent analysts adjudged the digital economy sector to have generated 594 per cent of its revenue target from the 2019 baseline”This is very commendable. As part of these unprecedented achievements, the sector generated over 547 million dollars from the auctioning of the 5G spectrum alone,’’ he said.
Buhari said he was pleased to unveil and commission a number of initiatives that further express the government’s commitment to develop a sustainable digital economy in Nigeria.
“These initiatives are part of our administration’s efforts to position the digital economy as a key enabler for the diversification of our economy and as a catalyst for the transformation of every sector of our economy.
“You will recall that I unveiled and launched the National Digital Economy Policy and Strategy for a Digital Nigeria on the 28th of November, 2019 and I am very proud of the giant strides and the unprecedented progress that we have made in in less than one year since the unveiling.
“To ensure that the digital economy sector remains successful and in order to reduce the burden on citizens, I recently approved the suspension of the proposed excise duty in the telecoms sector, as any initiative that will lead to hardship for the citizens would not be pursued,’’ the president said.
Buhari said the digital economy ensured continuity in governance during the restrictions that came into force as a result of the COVID-19 pandemic.
“We approved the National Policy on Virtual Engagements for Federal Public Institutions on the Oct. 14, 2020 and this enabled us to formalise government online meetings.
”As such statutory meetings like the Federal Executive Council meetings, Council of State meetings and other meetings can now take place online, effectively and legally.
“Our administration’s commitment to promoting data promotion and privacy is receiving praise across the world and we have increased our digital identity enrolments from 39 million in October 2020 to about 92 million today.
“The massive increase of about 63 million in about two years is a global success story and has led to several requests for partnership from countries within and outside Africa.
”I also approved the establishment of the Nigeria Data Protection Bureau on the Feb. 14, to provide an institutional framework for data protection in Nigeria, in line with global best practices,” the president told the gathering of ICT experts and government officials.
He said a number of policies and programmes to enhance the productivity of the digital economy sector had been developed.
According to him, the National Policy on NIN-SIM integration has enhanced the integrity of the National Identification Number database.
”Similarly, the Nigerian Postal Service has been repositioned through the unbundling of its services to increase its efficiency and make it more viable as a revenue generating agency of government.
”The two subsidiaries are the Property & Development Company and the Transport & Logistics Company.
“As part of the NDEPS, I approved the Oct. 24 as the Digital Nigeria Day. I am delighted that the maiden Digital Nigeria International Conference and Exhibitions commenced on the 24th of October 2022.
”I am confident that the outcome of the conference as noted in the communiqué will support the growth of the digital economy sector. I signed the Nigeria Start-up Bill into law on the Oct. 19 2022,” he said.
According to him, the Nigeria Start-up Act is a landmark legislation of this administration to transform the pool of highly talented youth in the country into a pool of highly innovative digital entrepreneurs.
”We aim to make Nigeria a global hub for digital talent. It was an executive bill that was initiated by the Honourable Minister of Communications and Digital Economy,” he added.
Buhari also noted partnerships with leading global ICT companies to train Nigerians in cutting edge and high demand digital skills.
“This includes the training of five million Nigerians as part of a partnership with Microsoft Corporation.
”It also includes the training of an additional one million Nigerians in skills in areas such as block chain technologies, cyber security and data analytics, among others,” he stated.
Buhari commended the giant strides made by the digital economy sector under the Minister of Communications and Digital Economy and other stakeholders, describing it as impressive.
In his remarks, Minister of Communication and Digital Economy, Isa Ali Pantami appreciated the President for his support for the digital economy.
He noted that the economy had witnessed turnovers in broadband/Internet penetration, skills acquisition for global competitiveness and infrastructure development, like the fiber optic cable, which was about 15,000kms in 2015, and increased to more than 60,000kms.
Pantami said there had been 2,255 interventions and programmes in the higher institutions of learning, secondary schools, and some private schools, and the quarterly revenue from ICT rose from N51 billion to N418 billion.
He added that some prominent institutions like the Massachusetts Institute of Technology, U.S., had shown interest in researching the pace of growth in the sector.
The minister listed many policy interventions that had directly impacted on governance, institutions, markets and citizens, assuring that the ICT would enhance the process of diversifying the economy.
Prof. Muhammed Abubakar, the Managing Director/Chief Executive Officer of the Galaxy Backbone, said 400 MDAs Agencies were already connected to the National Shared Services Centre.
At the close of the event, two young Nigerians, Kalim Haruna, who developed a system called “Sharp-Sharp’’ and Bashir Abubakar, founder of “Africa First’’, were honoured by the president for their creativity and ingenuity, and showcasing the nation’s talent in a global ICT conference.
MTN Nigeria, has pledged the company’s renewed commitment to transparency and responsiveness in addressing customer concerns.
Karl Toriola, chief executive officer, MTN Nigeria,
Karl Toriola, chief executive officer, MTN Nigeria, stated this at the telecoms provider its first-ever Customer Engagement Day (CED) in Lagos.
Speaking during the event, Toriola fielded real-time questions from customers, responding to issues ranging from data quality to customer service gaps.
“We’ve invested heavily to build a network that delivers value for money. While data in Nigeria remains among the most affordable globally, our priority is quality and consistency that truly powers ambition. Today is about transparency: answering your questions, listening to your concerns, and showing that MTN is not just a service provider; we are a partner in your journey,” he said.
The company emphasised that the Customer Engagement Day was designed as an open forum for dialogue between MTN executives and customers.
The hybrid event, themed “We See You. We’re With You,” featured sessions on digital literacy, data usage, youth mentorship, and financial inclusion, aimed at improving subscriber experience and usage efficiency.
Ayham Moussa, chief operating officer, MTN Nigeria, in his opening remarks, highlighted the company’s long-standing connection with Nigerians, noting that its operations were built with input from ordinary citizens.
“When MTN began, it was built by people like you: engineers, entrepreneurs, everyday Nigerians. Today, we connect over 80 million people, and our focus remains simple: to stand with you in your hustle, support your ambitions, and make life easier. This journey is about listening, improving daily, and being a shield for homes and businesses across Nigeria,” he said.
A key session on Data Usage and Management offered participants practical guidance on how to manage and conserve data, with many customers raising questions about consumption patterns and transparency in billing.
Ugonwa Nwoye, chief customer relations & experience officer, MTN, stated, “We know how essential data is; it’s how we live, work, and connect. From parents streaming classes to small businesses on Zoom, we see your daily realities. That’s why we’re focused not just on providing data but on helping you use it better, with practical tools and tips that put you in control. We hear you, and we’re acting on what you’ve told us today.”
Onyinye Ikenna-Emeka, chief marketing officer of MTN Nigeria, reiterated the importance of continuous engagement: “Today has been about listening, learning, and connecting with you. We’ve heard your complaints, your ideas, and even your personal stories. From parents balancing their children’s needs to businesses working tirelessly online, be assured that we listen, we care, and we do. Your trust means everything to us, and we’re committed to turning today’s conversations into real actions.”
Ikenna-Emeka stressed that MTN Nigeria seeks to reposition itself not only as a telecom operator but also as a listening partner in the everyday lives of its subscribers.
The event also provided a platform for small businesses, young professionals, and digital creators to interact with MTN leaders during Speed Mentorship sessions, where they shared their goals and received guidance on navigating the digital economy, technology adoption, and entrepreneurial strategy.
Visitors engaged with various thematic lounges, including MoMo PSB, MTN’s fintech subsidiary, where tools for financial inclusion were showcased.
Other activities included a digital skills academy, interactive tech demonstrations, and a startup pitch challenge, reflecting MTN’s efforts to align services with evolving customer needs.
Airtel Africa Plc increased its capital expenditure in Nigeria to $39m in the second quarter of 2025, up 1.7 per cent from $38m in the same period last year.
According to the company’s financial statement the marginal increase highlights Airtel’s continued investment in its largest and most strategic market, despite a broader slowdown in group-level capital spending this quarter.
The Punch newspaper reported that the increase in capital spending by Airtel comes at a time when telecom subscribers are expecting tangible improvements in service quality, following a 50 per cent tariff adjustment approved by the Nigerian Communications Commission earlier this year.
It added that Telcos have begun to show signs of commitment to network upgrades, bolstered by the recent delivery of telecom equipment valued at $1bn.
“In Nigeria, capital expenditure for the quarter ended 30 June 2025 was $39m, compared to $38m in the same period last year,”.
According to the statement, the Group-wide capital expenditure stood at $121m in the three months ended June 30, representing a decline from the previous year, which the company attributed to timing differences in project execution.
However, Airtel maintained its full-year capex guidance at between $725m and $750m, indicating that more spending is anticipated in the coming quarters.
Capital expenditure, or Capex, refers to the funds used by a company to acquire or upgrade physical assets such as network towers, fibre infrastructure, and IT systems.
In Nigeria, the $39m spent during the quarter was likely directed toward expanding and modernising the operator’s mobile and broadband networks, enhancing service coverage and capacity in urban and rural areas.
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.
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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