MTN Nigeria has said only 48.7 per cent of its subscribers have submitted their National Identification Number (NIN) as at the close of February, 2021.
The 48.7 per cent translate to 37.2 million subscribers, the group said in its annual report published on Sunday. The submission of NIN is part of Nigerian government requirement to tighten Sim registration.
The local unit also said Sunday that, MTN Nigeria is at an advanced stage in renewing its operating and spectrum licence in Nigeria for another 10 years from September.
The Nigerian Communications Commission (NCC) has approved the renewal of the 900MHz and 1.8GHz bands due to expire in August 2021.
The spectrum underpins MTN’s data network and telecommunications coverage in Africa’s biggest economy, the group said in its annual report published on Sunday.
The Nigerian government had in February this year extended the period for phone users to link their SIM numbers to their National Identification Numbers (NIN).
Government said, the exercise will now continue till April 6.
In another development, MTN Nigeria has set a new record among Nigerian listed entities, recording an expanded revenue of N1.3 trillion, representing 15.1 per cent in its full-year turnover in the financial year of 2020, the highest ever recorded by a Nigerian listed entity.
The strong revenue growth was due to its data-led segment as sales from the segment expanded by an impressive 51.5 per cent Year to Year, while voice sales rose relatively by 5.6 per cent year to year as the global switch to data-enabled communication subsisted.
MTN Nigeria Plc also announced a N5.90/share final dividend on impressive growth in its free Cash Flow for the financial year of 2020. Notably, MTNN’s 4G network now covers 60.1 percent of the population compared to 43.8 per cent in 2019.
In contrast, data revenue growth notably moderated to 37.5 per cent YoY in the fourth quarter of 2020 compared to 55.5 per cent YoY in the third quarter of ame year, data revenue growth notably moderated to 37.5 per cent YoY in fourth quarter of 2020 compared to 55.5 per cent YoY in the third quarter of 2020.
In a research report released by CardinalStone, MTN Nigeria’s margin was adversely affected by currency devaluation; “Margins were adversely affected by the effect of naira devaluation and expenses associated with new sites’ roll-out to boost 4G network coverage in FY’20.
“MTNN expanded the scope of its service agreement with IHS Holding Limited and changed the reference rate for converting USD tower expenses to NAFEX vs CBN’s official rate previously.
