Airtel Nigeria’s revenue fell by 40.34% in 2024, reaching $738 million, down from $1.24 billion the previous year.
This sharp drop is mainly due to the steep devaluation of the Nigerian naira.
Although the company saw a 3.2% increase in its customer base, which grew to 52.1 million subscribers, the rise in data usage per customer was more significant.
Airtel’s EBITDA dropped by 46.4%, standing at $360 million, while average data consumption grew by 37.2%, reaching 8.4gb per month.
Despite the challenges posed by inflation and rising operational costs, the company adjusted its pricing for voice and data services, in line with the Nigerian Communications Commission’s (NCC) tariff changes.
The company said it remains focused on adapting to the tough economic situation while maintaining its service quality for a growing customer base.
However, it is expected that the recent approval for 50% increase in telecom tariff by the regulator, the Nigerian Communications Commission (NCC) will lift the revenue tide of telecom operators in Nigeria.
In announcing the tariff hike, the Commission noted that it will help mobile network operators to increase infrastructural investment and positively affect their bottom-line and services.
