MTN and Airtel earned N1.92tn from calls and data from January to September 2022.

This is based on the financial performance data of MTN Nigeria Communications Plc and Airtel Africa’s Nigerian subsidiary.

This is an 18.27% increase from the N1.62tn earned by the telco from calls and data in the same period in 2021.

MTN Nigeria revealed that its customers spent N753.78 billion and N549.66 billion on calls and data respectively, while Airtel Nigeria customers spent N342.71 billion ($780 million) and 274.61 billion ($625 million) on calls and data respectively One hundred million U.S. dollars).

In its results, MTN said inflation, supply chain uncertainty and scarcity of foreign currency were putting financial strain on consumers and businesses.

It said: “Our operating environment remains challenging for the first nine months of 2022. Ongoing global macroeconomic and geopolitical turmoil continues to push up energy, food and headline inflation, with Nigeria’s annual inflation rate rising to its highest level in 17 years. September 2022 was 20.8%.

“The supply of foreign exchange required for capital expenditures adds to supply chain uncertainty. These headwinds continue to place severe financial pressure on consumers and businesses.”

Results from MTN showed a 70.6% year-on-year increase in data traffic, while Airtel showed data usage per customer increased to 4.8 GB per month from 3.9 GB in the previous period.

Commenting on the growth in voice and data revenue, MTN Nigeria CEO Carl Toriola said: “Voice revenue grew by 4.4%, maintaining a steady recovery as more customers reactivated and the total number of connections continued to increase.”

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