MTN Nigeria has hit a major milestone in its financial services journey, reporting a record ₦83 billion in fintech revenue for the first half of 2025 — the highest in at least five years.
The telecom giant’s recently released financial results show a 71.8% year-on-year increase from ₦48.4 billion in H1 2024, continuing a rapid growth trend from ₦31.6 billion recorded in the same period of 2021. This significant leap underscores MTN’s growing strength in the digital financial services landscape.
A large part of this success is credited to the company’s airtime lending service, Xtratime, and the expansion of its advanced fintech offerings. According to MTN, these improvements have been instrumental in attracting more high-value users and boosting customer engagement.
“Our efforts to grow advanced services and improve the fintech experience are yielding results. We’ve seen strong uptake among premium users, and customer deposits have grown nearly fivefold since December 2024,” the company noted in the report.
While revenue and deposits are on the rise, the number of active MoMo wallets dipped by 6.1% to 2.7 million compared to late 2024. However, a turnaround began in Q2, with 562,000 new wallets added during the period — a sign of renewed user interest.
Other key distribution metrics also showed positive momentum. The number of active agents surged by 49.7%, and merchant sign-ups saw a 3.5% increase compared to the end of 2024. These gains point to MTN’s strategy of strengthening its agent and merchant network for long-term sustainability.
MTN Nigeria CEO Karl Toriola expressed optimism about the future of the company’s fintech operations. “We’re fully focused on scaling our fintech growth strategy. The improvements we’ve seen in the second quarter affirm that we’re moving in the right direction,” he said.
Toriola also highlighted the importance of strategic partnerships and enhanced service delivery in attracting and retaining high-value users.
With this performance, MTN Nigeria is clearly cementing its position as a key player in the nation’s evolving fintech space.
