MTN Nigeria rebounds with N1.1tn profit

MTN-new-logo-e1663465256894MTN Nigeria has reported a staggering N1.1tn profit for the 2025 financial year. This turnaround marks a significant departure from the fiscal headwinds of 2024, signalling a robust resurgence in the country’s digital economy.

Speaking on Channels Television on Tuesday, the Chief Financial Officer of MTN Nigeria, Modupe Kadri, broke down the numbers that defined the company’s “impressive” performance. He revealed that the firm achieved a 22.9 per cent increase in service revenue, reaching N392.2bn, fuelled by a surge in third-quarter activity.

The recovery was not a matter of chance but the result of aggressive capital expenditure. Kadri disclosed that the company’s investment in the sector has reached unprecedented levels. “We spent about N1tn in 2025, significantly higher than our 2024 investment levels. We will continue now that we have a business case to make this investment,” he explained.

Despite the massive profit and the deployment of over 2,850 new network sites, the CFO offered a grounded perspective on when consumers will feel the full impact of these billions. He addressed the recurring question of whether increased income immediately equates to better service quality. “The telecommunications industry is capital-intensive. Even when the capital is available, improvements in network infrastructure take time to materialise. We are not out of the woods yet, but the impact of such investments will be fully realised in time,” he said.

Looking towards the future, MTN is shifting its focus toward the “unconnected” segments of the Nigerian population. With the industry’s total investment exceeding $1bn, the company is eyeing a 70 per cent broadband penetration rate through a mixture of traditional and frontier technologies. “There is a growing need to expand connectivity as Nigeria’s population increases. Areas previously classified as rural require improved population coverage. Our goal is to exceed 2025 investment levels with the Bridge Project and a ‘satellite revolution’ aimed at closing the rural connectivity gap,” he added.

Kadri concluded that while private investment remains a pillar of their growth, much of this massive expansion is currently funded by the company’s own operating cash flow.

Telecom firms eye gains from UAE $1bn AI fund

Nigerian telecom

Telecommunications companies expect to benefit from a $1bn artificial intelligence fund announced by the United Arab Emirates to bolster digital infrastructure across Africa, with Nigeria a central focus.

Industry executives say the initiative could speed broadband rollout, encourage artificial intelligence adoption, and draw more private investment into the country’s rapidly expanding digital economy.

“The growing partnership between Nigeria and the UAE is a very welcome development, especially as it is beginning to extend into technology and the digital economy,” President of the Association of Telecommunications Companies of Nigeria, Tony Izuagbe Emoekpere, told The PUNCH.

“Nigeria’s digital space is expanding very quickly, and partnerships like this can help accelerate investments in areas such as broadband networks, data centres, cloud services, and even emerging technologies like artificial intelligence

UAE Assistant Minister of Foreign Affairs for International Development, Sultan Al Shamsi, highlighted the initiative in a statement, stating, “Our $1bn AI for development Initiative, designed to strengthen digital infrastructure across Africa, with Nigeria as a key partner, underscores our commitment to building long-term, future-ready cooperation. We see Nigeria not only as a major economy, but as a country positioned to lead in shaping Africa’s next phase of growth.”

The announcement comes against the backdrop of growing UAE–Nigeria economic ties. Non-oil trade between the two countries reached $4.3bn in 2024 and approximately $3.1bn during the first nine months of 2025, reflecting expanding commercial activity in logistics, agriculture, and digital services.

Emoekpere explained why Nigeria is an attractive destination for technology and telecom investment. “We have a very large population, and a significant portion of that population is young and increasingly comfortable with technology.

“Smartphone usage is rising, and people are consuming more data every year as they rely more on digital services for business, communication, education, entertainment, and financial services. This growing demand naturally creates strong opportunities for investment in telecom and digital infrastructure,” he said.

He added that the AI initiative presents opportunities to strengthen critical infrastructure.

“Nigeria still needs significant investment in broadband networks, fibre infrastructure, data centres, and other technologies that support the digital economy. Partnerships with countries like the UAE can bring in the capital, expertise, and technology needed to strengthen Nigeria’s connectivity ecosystem,” Emoekpere said.

Al Shamsi further explained the UAE’s investment in the “AI for Development” initiative, noting that “Nigeria is among the priority countries under the ‘AI for Development’ initiative due to its population and economic weight, its pivotal role in West Africa, and its clear ambitions in the digital economy.

“The initiative does not follow a rigid country-by-country distribution; funding is allocated flexibly according to national project readiness and Nigerian government priorities. The sectors expected to benefit first include government services and digital transformation, fintech and financial inclusion, digital health, smart agriculture, public data systems, and digital infrastructure, ensuring a direct impact on citizens’ lives and economic growth.”

He further noted that “all projects are implemented in partnership with national government entities and in accordance with local legal and regulatory frameworks in Nigeria, including data protection and privacy laws.”

According to Al Shamsi, “the initiative emphasises building local capacity in data management and model development, rather than merely using local data for external solutions. Supported projects are required to contribute to knowledge transfer and develop systems that can be operated and advanced locally over the long term.”

Kano APC gives NNPP 72 hours to retract allegations of influencing judiciary

The All Progressive Congress, APC, in Kano State, has issued a 72-hour ultimatum to the NNPP Spokesperson, Ibrahim Karaye and the NNPP to retract the allegations that the Kano government of Alhaji Abba Kabir Yusuf is Influencing court proceedings, and tender a public apology.

The APC, warned that failure to comply with the ultimatum would result in legal action for defamation against the NNPP and its spokesperson.

APC described the allegation as “false, malicious and legally indefensible,” stressing that the Kano state government has never interfered with judicial processes.

Recall that the New Nigeria Peoples Party (NNPP), had accused Kano state government of influencing court proceedings.

A statement issued by APC spokesperson in Kano, Auwalu Soja Gwale, said the allegation, reportedly made by the factional Spokesperson of NNPP, Ibrahim Karaye, lacked evidence and was aimed at discrediting the judiciary.

The APC specifically denied the claims that the state government paid huge sums to influence proceedings at the Federal Capital Territory High Court in Abuja, demanding immediate retraction.

According to the statement, the claim was part of a pattern of what it called “reckless rhetoric” by elements within the NNPP whenever political outcomes do not favour them.

The APC urged the Kwankwasiyya faction of NNPP to focus on resolving its internal leadership disputes, citing ongoing litigations involving factions linked to Boniface Aniebonam and Rabiu Musa Kwankwaso rather than interfering on frivolous matter.

They said it was inappropriate for a party embroiled in internal crises to accuse the judiciary of corruption without proof.

The APC reaffirmed commitment to the rule of law and urged the public to disregard the allegation, describing it as baseless.

2027: Nigerian govt doesn’t want me to contest presidential election – Peter Obi (VIDEO)

Former presidential candidate and chieftain of the African Democratic Congress, ADC, Peter Obi, has alleged that the Federal Government is working to prevent him from participating in the 2027 presidential election.

Obi made the allegation while calling for a transparent and credible electoral process.

Addressing a group of Nigerians in a video, Obi spoke about his political journey, reflecting on past challenges.

He noted that he has endured political isolation and legal battles.

“I have been in this very difficult business where people abandoned you completely for one election. I spent three years in court and no one followed me there.

“I have been impeached, returned to my village where no one wanted to see me, and removed from office twice,” he said.

He added that such experiences have prepared him for future challenges.

“So there is nothing I will not see again. All these things being said about me are not new,” he stated.

Obi further claimed that there are efforts by the Federal Government to stop his presidential ambition in 2027.

“The Federal Government of Nigeria does not want me to contest in the 2027 presidential election. We are not asking for much. They already have the governors and ministers; we are only asking for a free and fair election,” he said.

He also suggested that those in power have greater access to influential networks.

“They have all the contacts. They know the queen and the king, while we do not. They have everything,” he added.

Network outages disrupt businesses as Abuja Area Council residents decry poor services

Residents and business owners in Bwari Area Council of the Federal Capital Territory have continued to lament persistent disruption of mobile networks in the area, particularly those of MTN Nigerian and Globacom. The residents say most of the network providers in the area have abandoned customers who depend largely on their networks to transact businesses.

The residents were hard hit on Wednesday when they woke up to yet another disruption in mobile network services affecting users of MTN Nigeria, a development many say is crippling communication and business activities in the area.

Reports early Wednesday morning indicated that MTN subscribers across Bwari and neighbouring communities were unable to access network services, leaving many residents stranded without communication or internet connectivity.

A check by DAILY POST confirmed the situation, with several residents complaining that the network failure had severely disrupted commercial activities, particularly transactions that depend on internet connectivity and mobile banking services.

Some residents who spoke with DAILY POST noted that the problem was not new, stressing that the community has been battling intermittent network failures from both MTN and Glo mobile for a long time without a lasting solution from the companies

Residents, Businesses Decry Impact of Poor Network

Mr. Koboko Master, a popular Nigerian comedian who resides in the area, described the situation as a recurring challenge that frequently leaves residents cut off from communication.

“MTN Internet in our area is bad, very bad, Sometimes the network disappears totally and you become completely incommunicado, except for those who have routers that can still use WhatsApp. But if you don’t use WhatsApp, it means you will miss everything entirely.” He said.

“This has been very consistent. It turns on and off regularly. It’s not something that happens once in a year or once in a month. It happens consistently, and it is a very big problem,” he added.

Madam Ogochukwu Jenifer, a building materials dealer at SCC Bwari and an MTN subscriber, also lamented that the poor network service was negatively affecting her business.

“Network is very bad in this Bwari area,” she said.

“Honestly, it is affecting our business. You cannot use your internet and so many things are not working. You want to do transactions, but there is no transaction because of network.

“So it’s not funny. No communication means no business. Things are just standing still.”

A banker in the area who spoke on condition of anonymity confirmed that the persistent network problem was affecting not only individuals and businesses but also banking operations.

“Most of the time people come with complaints about failed transactions, but at the end of the day, you discover that the problem is not from us. It’s because they don’t have good internet service to complete their transactions, or they don’t have network at all,” he explained.

“That situation is also affecting us here because people who normally do simple transactions at home are forced to come to the bank. That can lead to an increase in customer queues,” he lament.

Efforts to get a response from MTN Nigeria on the cause of the network disruption and the steps being taken to address the problem were unsuccessful as of the time of filing this report.

Social Media Reactions Highlight Widespread Frustration

The frustration of residents was also evident on social media. In a post shared in the popular Facebook group “Bwari Abuja Connect,” a user Johnson Oyakhire, raised concerns about the persistent network issues, asking other residents whether they were experiencing the same challenge.

“A beg, this MTN network wahala – na my phone get problem or na general issue?” the post read.

The question quickly drew reactions from other residents who confirmed experiencing similar problems.

One commenter, Bishop David Akin Asoore, said the situation appeared to be limited to certain areas of Bwari.

“As soon as I got to Dutse Express, network came fully,” he wrote, suggesting that the network disruption may be location-specific.

Another user, Samuel Harrison replied “Na general wahala ooo, Me since yesterday, I never use my network.To make matter worse, my 2gb don go” closed by crying emoji.

In a related post on X (formerly Twitter), a user, Adeboye Sylvia Omotayo, called on MTN Nigeria to urgently address the issue.

She wrote that the network had been unavailable for several hours, noting that she uses three MTN SIM cards but had been unable to access services.

“There is a downtime in Bwari, Abuja. Kindly look into this urgently please. I use three SIMs, all MTN, and it is sad because your service has been down for hours now,” she wrote.

Responding to the complaint, MTN Nigeria apologized for the inconvenience and asked the customer to send additional details through a direct message to enable the support team investigate the problem.

“Yello! Thank you for contacting MTN. We sincerely apologize for the network experience. Kindly DM the affected phone number, specific location, duration of the network challenge and confirm if it is voice or data related for support,” the company said.

It’s Not Just MTN – Users

Meanwhile, a GLO customer in Ushafa Abuja, Andrew Otene also lamented persistent network disruption of the network. According to him, virtually all networks in Bwari Area Council of the FCT are weak, especially Glo.

“Can you imagine that I subscribe huge data on my Glo almost every month but I don’t use it. So if we are blaming MTN for network disruption, we shouldn’t keep quiet over Glo,” he said.

Findings by DAILY POST shows that more people complain about both Glo and MTN than any other network in the area council.

According to one Okoro John, a Pharmacist, Glo network could just disappeared for days without any action from the service provider.

According to him, “ They just restore network anytime they want. They may decide to disrupt our network for even one week and it will look normal. This is sad,” he said.

There has been no official statement or notification from the companies to its subscribers regarding the situation in the area.

NSCDC deploys 620 personnel to protect Abia residents, national assets

Abia State Command of the Nigeria Security and Civil Defence Corps, NSCDC, says it has deployed 620 personnel across the State to ensure a peaceful and secure environment before, during and after the 2026 Eid-el-Fitr celebrations.

The State Commandant, CC Chukwuemeka N. Odimba disclosed that comprehensive operational orders have been issued to Area Commanders and Divisional Officers across all LGAs.

According to the NSCDC, strategic emphasis of their assignments would be on the protection of critical
national assets and infrastructure.

He stated that specialized units, including the Rapid Response Squad, Tactical Team, and Counter-Terrorism Unit (CTU), have been mobilized to conduct intensive patrols at recreational centres, vulnerable locations, and other flashpoints, to nip in the bud any criminal intentions.

The Commandant reassured residents of his Command’s commitment to professionalism and civility while discharging their duties.

He urged members of the public to remain vigilant, law-abiding, and supportive of security agencies by reporting any suspicious movements or activities within their communities.

Odimba further called on Muslim faithful to pray for peace and unity in Abia and Nigeria.

IG disburses N2.4bn cheques to deceased officers’ families

Olatunji Disu

The Nigeria Police Force has disbursed over N2.4bn in insurance benefits to 1,075 beneficiaries and next-of-kin of deceased officers under its Group Life Assurance and IGP Family Welfare Schemes.

The cheques were presented on Wednesday by the Inspector-General of Police, Olatunji Disu, during a ceremony held at the Force Headquarters in Abuja.

In a statement by the Force spokesman, DCP Anthony Placid, the total sum of N2,435,421,584.11 covers multiple policy years, including 2018/2019, 2020/2021, 2021/2022, 2022/2023, 2024/2025, and 2025/2026, as well as outstanding claims recovered from previous years.

Speaking at the event, the Force Insurance Officer, ACP Lydia Ameh, said the disbursement reflected the IGP’s commitment to prioritising the welfare of officers and their families.

So This Happened (EP 381) reviews: Outrage as bullying video from Benin school goes viral

She noted that the payments also represented the recovery of long-standing insurance obligations, adding that measures had been put in place to ensure compliance by insurance providers to prevent future delays.

Ameh further assured that the Force Insurance Unit remained committed to delivering efficient, transparent, and accountable services.

In his remarks, Disu described the occasion as a solemn recognition of the sacrifices made by officers who died in the line of duty, stressing that personnel welfare remained a key focus of his administration.

He said the gesture went beyond financial support, serving as a demonstration of the Force’s enduring responsibility to honour fallen officers while supporting their families.

The IGP also pledged to strengthen welfare frameworks, improve administrative processes, and eliminate delays in claims processing.

“Efforts would be intensified to strengthen welfare frameworks, improve administrative efficiency, and eliminate delays in the processing and disbursement of benefits.

“The Force will also leverage modern technology to enhance transparency, streamline claims processing, and ensure accountability in welfare administration,” he added.

The disbursement comes amid ongoing reforms within the Nigeria Police Force aimed at improving personnel welfare and addressing long-standing delays in insurance claims

Eid-el-Fitr: Yobe govt suspends recreational activities

Yobe State Government has suspended the operations of recreational centres during Sallah festivities aimed at safeguarding lives and property.

Special Adviser on Security Matters to the State Governor, Brigadier General Dahiru Abdussalam, (Rtd), revealed this in a statement which indicated that the current security situation does not favour large crowd of young persons celebrating the 2026 Eid-el Fitr.

“As you are aware that during festivities, recreational centres across Yobe State always attract large number of people celebrating various religious festivals. Hence, this year’s Eid-el Fitr celebration will not be an exception.

“However, the current security situation does not favour the congregation of the usually large crowd of young persons who would celebrate the Eid-el Fitr 2026”, the Security Adviser said.

He ordered all recreational facility owners in the state to temporarily suspend operations from Thursday, 19th to Monday, 23rd March 2026, while urging all commanding officers of units, officers commanding forward Operation Bases, Divisional Police Officers, and the 17 Local Government Councils to ensure full compliance with this directive within their respective areas of responsibility.

Market cap slips below N130tn threshold

NGX-750×375The Nigerian Exchange Limited experienced a modest retreat during Wednesday’s trading session as a wave of investor caution and profit-taking pulled the market valuation below the significant N130tn threshold.

The NGX All-Share Index, which serves as the primary benchmark for the health of the market, opened the day at 202,559.41 points but slipped by 0.69 per cent to close at 201,156.86 points. Consequently, the total market capitalisation fell by approximately N900bn, ending the day at N129.125tn compared to its opening value of N130.025tn.

Market analysts attribute this mid-week dip to a short-term correction following a series of recent strong rallies that had pushed prices to record highs.

Investor sentiment turned slightly bearish as the session progressed, with 38 decliners eventually outweighing 31 advancing equities. Despite the overall downward pressure on the index, several stocks managed to post significant gains against the trend

NSLTECH led the gainers’ chart with a maximum 10.00 per cent increase, moving from N1.20 to N1.32, while beverage giant Guinness Nigeria followed closely with a 9.92 per cent rise to close at N423.20.

Other notable performers included John Holt, Sovereign Trust Insurance, and Linkage Assurance, all of which recorded gains exceeding 9 per cent.

On the flip side, the bears took a firm grip on several high-value and mid-cap stocks. Red Star Express topped the losers’ list with a 9.98 per cent drop, closing at N25.70. Major players such as Aradel and Presco also saw significant declines of 9.68 per cent and 9.30 per cent, respectively, which contributed heavily to the contraction of the total market value. Other equities facing selling pressure included Living Trust Mortgage Bank and Daar Communications.

Interestingly, several large-cap blue-chip stocks remained immune to the day’s volatility. Dangote Cement, Julius Berger, Vitafoam Nigeria, and Staco Insurance Plc all closed flat.

As the market continues to navigate this corrective phase, the focus for many traders is now shifting toward upcoming earnings releases and broader economic indicators.

Overall, the session highlighted a period of consolidation in which investors are re-evaluating their portfolios after a period of rapid growth.

Analysts expect trading to remain cautious in the coming sessions as the market looks for a new support level, with participants closely monitoring corporate performance data to guide their next moves.

Africa’s fuel supply hit by Middle East crisis

Fuel PumpThe growing crisis in the Middle East is tightening the noose around Africa’s fuel supply chain, with many countries now running on just weeks of refined petroleum products as key import routes come under severe strain.

This follows escalating tensions linked to the Iran war, which has significantly disrupted shipments through the Strait of Hormuz, a critical artery for global energy flows.

According to the International Energy Agency, about 600,000 barrels per day of petroleum products typically destined for Africa from the Middle East are now at risk, as tanker traffic through the corridor slows to a trickle.

The development has forced governments across the continent to urgently seek alternative supply sources, amid fears that wealthier nations could outbid African buyers in an increasingly tight global market.

A report by Bloomberg noted that the unfolding disruption is exposing long-standing structural weaknesses in Africa’s energy system, particularly the continent’s heavy dependence on imported refined products due to years of refinery closures and underinvestment.

Data from energy analytics firm Kpler also paints a stark picture of the disruption, noting that petroleum product loadings fell sharply from 580,000 metric tonnes in January to 183,000 metric tonnes in February, representing a steep decline of 397,000 metric tonnes, or 68.4 per cent.

The situation worsened in March, as volumes plunged further to zero, marking a complete 100 per cent drop from February levels.

Overall, the region lost the entire 580,000 metric tonnes recorded at the start of the quarter, underscoring a total supply breakdown within just three months and reflecting the severity of disruptions in global fuel trade flows.

Industry tracking also showed that several cargoes originally destined for Europe and Africa have been rerouted to Asia, where demand has surged amid the crisis.

One such vessel, the Brest, initially bound for Rotterdam after loading in India, abruptly changed course near East Africa and diverted towards Indonesia, highlighting the shifting dynamics in global fuel trade.

The ripple effects are already being felt across Africa, particularly in East and Southern regions, where dependence on Middle Eastern fuel imports is highest.

“We are looking everywhere for supply options,” Director-General at South Africa’s Department of Mineral Resources, Jacob Mbele, said in an interview.

“We are comfortable that in the coming weeks or so, we are safe, but the situation is fluid; it changes every day,” he added.

The report warned that securing fuel cargoes will become increasingly difficult for African countries, many of which operate with limited foreign exchange reserves and weak bargaining power.

The crisis is further compounded by the continent’s declining refining capacity. Despite accounting for about seven per cent of global crude oil production, Africa has lost roughly a third of its refining capacity over the past two decades.

This has left many economies heavily reliant on imports from the Middle East, a dependence now proving costly.

In East Africa, countries such as Kenya, which consume about 100,000 barrels of fuel daily and import all its requirements, are particularly vulnerable. The country maintains just 21 days of fuel stock, leaving little margin for disruption.

Chairman of the Petroleum Outlets Association of Kenya, Martin Chomba, said the situation is already biting.

“The biggest suppliers are rationing product, and some distributors are experiencing stock-outs in rural areas,” he said.

Similarly, Ethiopia has urged citizens to cut down on fuel consumption as the government prioritises essential services.

Prime Minister Abiy Ahmed said in a public statement that fuel use must now be directed towards “basic and essential needs,” reflecting the growing strain on supply.