Nigeria’s biggest mobile phone service provider MTN recorded a surge in data revenue in the first quarter of 2020, where businesses in some key states had to adopt remote working and the mobility of people slowed due to the COVID-19 pandemic.
Data which made up 22.6 percent of service revenue (N328.5bn) grew 59.2 percent year-on-year in the quarter and 12.3 percent from Q4 2019.
This was supported by the addition of 1.7 million active data users and increased 4G population coverage in the period.
4.2 million new subscribers were added to MTN network driving voice revenue up by 7.4 percent.
Digital revenue rose 63.7 percent while Fintech revenue, from services like Mobile Money, jumped 36.1 percent with the Mobile Money agent network expanding by 70,000 agents to a total of 178,000 agents strength in the quarter.
Nigeria recorded its first case of COVID-19 in late February and put key states; Lagos, Ogun, and Abuja under lockdown after a month.
However, commercial activities had begun to slow in March as businesses adopted remote working and individuals stayed at home.
MTN, which grew after tax profits by 6 percent to N51.146bn in Q1, said it is moderating its outlook due to highly uncertain external factors and given the impact of the virus on exchange rate and oil price.
The Telco said post-lockdown in late March, voice traffic declined but data services usage surged.
Segun Adams
