Despite the challenging regulatory environment faced during early part of 2021, MTNN delivered strong results, with revenue climbing up to NGN1.65trn in 2021FY (+22.87% YoY). The growth recorded in revenue was driven by growth across all segments with voice (58.72%) and data (31.20%) contributing the most. Voice revenue (+10.56% YoY) advanced due to higher average minutes of use (+9.6% YoY), notwithstanding the 10.46% YoY decline in subscriber base.
