In spite of its run-ins with the Nigerian government, Nigeria’s biggest telecoms company MTN Nigeria is set to announce an annual profit after tax of almost $1 billion.
This was announced by the South African telecoms group MTN said yesterday. In a statement, it said MTN Nigeria is likely to report about $955 million in annual profit after tax.
“Profit after tax figure for MTN Nigeria for the period ended 31 December 2015 being quoted in the press, is 190 billion naira ($955 million), which is within the current estimate,” the group stated..
MTN Nigeria is responsible for about 37 percent of MTN Group’s revenue. It is currently in court where it is challenging the fine slammed on it by the Nigerian Communications Commission (NCC). The fine equates to more than twice its annual average capital spending over the past five years.
