Airtel Nigeria revenue fell by 30.4% to $1.04bn, returns to profit in African markets

Mobile network provider Airtel Nigeria has reported a 30.4 per cent drop in revenue to $1.04 billion for the financial year ending March 31, 2025. The loss was attributed to a significant decline in Naira devaluation, while the subscriber base grew to 53.3 million from 50.9 million a year ago.  

According to the financial statement released by the second-largest telecom subscriber base in Nigeria, its voice and data revenue also declined by 36.9 per cent and 26.2 per cent to $448 million and $483 million, respectively. 

On a constant currency basis, voice revenue grew by 24.3 per cent while data revenue grew by 44.5 per cent. Data usage per customer increased by 33.4 per cent to 8.4 GB per month (from 6.3 GB in the prior period) as 4G/5G network upgrade continues to influence mobile data consumption. 

For the period, Airtel Nigeria’s smartphone data usage per customer reached 11.1 GB per month compared to 9.0 GB per month in the prior period. Smartphone penetration increased by 4.7 per cent to reach 49.6 per cent.

Owing to the 50 per cent tariff adjustment by the Nigerian Communications Commission in January, the network provider’s constant currency revenue growth accelerated to 39.8 per cent in Q4’25 from 34.1 per cent in Q3’25. 

Airtel Nigeria’s mobile money continues to gain little momentum after a surge in revenue from $2 million to $4 million. “In Nigeria, we continue to focus on customer acquisitions with 1.7 million active customers registered for mobile money services at the end of March 2025,” the company said.

For Airtel Nigeria, the result indicates that while it faced challenges due to the naira devaluation, the company saw growth in subscribers, data usage, and mobile money services, with potential for future growth, which indicates resilience and potential for future growth. 

Also Read: Airtel Africa partners Starlink for high-speed internet penetration in Africa.

East Africa

Financial reports for the same period reveal that in the East Africa region (Kenya, Malawi, Rwanda, Tanzania, Uganda, and Zambia), Airtel’s revenue grew by 13.6 per cent to $1.8 billion. It recorded a voice revenue growth of 11.9 per cent, data revenue growth of 26.2 per cent, and other revenue growth of 27.1 per cent. 

The customer base surged by 11.7 per cent to 77.6 million, largely driven by the expansion of both increased network coverage and the increasing scale of the distribution network. The network operator explained that 1,231 sites are 5G enabled across four key markets and that its “continued investment in the network and expansion of 4G network infrastructure resulted in 99.5 per cent of our East Africa network sites enabled for 4G, compared to 96.4 per cent in the prior period.”

As a result of the infrastructural implementation, the data usage per customer increased to 6.2 GB per customer per month, up by 30.2 per cent. Smartphone penetration increased by 3.9 per cent to 42.3 per cent, while smartphone data usage per customer reached 7.8 GB per month compared to 6.3 GB per month in full year 2024.

Mobile money revenue increased by 17.5 per cent from $635 million to $747 million, with the active customers reaching 2.7 million. 

Notably, Airtel explained that its growth rate was primarily impacted by the devaluation of the Zambian kwacha and the Malawian kwacha, partially offset by the Kenyan shilling appreciation. While its East Africa region was partially affected by foreign exchange, the reports indicate a strong performance with growth driven by investments in network infrastructure and expanding customer base. 

Francophone Africa

Airtel in French-speaking African countries (Chad, Democratic Republic of Congo (DRC), Gabon, Madagascar, Niger, Republic of Congo, and Seychelles) saw its revenue grow by 7.2 per cent to $1.3 billion. The growth was attributed to a recovery in market trends, the benefits of sustained network investment, and intensive focus on the ‘go-to-market’ initiative. 

Voice revenue declined by 1.2 per cent to $614 million, data revenue grew by 23.4 per cent to $566 million, while the customer base is now 35.2 million from 32.3 million in FY ’24. However, total mobile money customers in the region fell by 0.9 per cent from 3.7 million to 3.6 million subscribers while its revenue increased to $243 million – a 21.6 per cent increase. 

In addition, Airtel explained that its rollout of the 4G network resulted in an increase in total data usage of 44.2 per cent and per-customer data usage growth of 24.3 per cent. Also, data usage per customer increased to 5.4 GB per month (up from 4.4GB in the prior period), with smartphone penetration reaching 43.1 per cent, while Smartphone data usage per customer reached 6.5 GB per month compared to 5.4 GB per month in the prior period.

By outperforming expectations, Airtel’s Francophone markets revealed that the company’s investments in network infrastructure are paying off, driving growth in data revenue and usage despite a slight decline in voice revenue and mobile money customers. 

Airtel Africa

In a broader picture of Airtel in Africa, the company returned to profit with a revenue of $328 million – a huge 468.2 per cent surge compared to the $89 million loss in FY’24, which was significantly impacted by derivative and foreign exchange losses mainly in Nigeria.

Meanwhile, revenue declined by 0.5 per cent to $4.95 billion for the period. The company attributed currency devaluation to a strong impact on reported revenues, while tariff adjustments in Nigeria contributed to a further quarter of accelerating growth. 

While reacting to the report, Sunil Taldar, Chief Executive Officer at Airtel Africa, said:

“We have reported another strong operating performance as our strategy continues to deliver against the significant opportunity that exists across our markets. The focus on our refreshed strategy has seen continued investment in the network while also driving improvements in our digital platforms and offerings to further enhance the customer experience.”

“We have reported another strong operating performance as our strategy continues to deliver against the significant opportunity that exists across our markets. The focus on our refreshed strategy has seen continued investment in the network while also driving improvements in our digital platforms and offerings to further enhance the customer experience,” said Sunil Taldar, Chief Executive Officer at Airtel Africa. 

Airtel Africa now boasts a 166.1 million customer base, signalling an 8.7 per cent increase. Smartphone penetration grew by 4.3 per cent to 44.8 per cent, data customers increased by 14.1 per cent to 73.4 million, with data usage per customer increased by 30.4 per cent to 7.0 GB.

The company noted that it continued to uplift customer experience and sustained network investment with the rollout of 2,583 new sites and approximately 3,300 km of fibre, supporting increased data capacity across Africa. 

In another notable KPI, Airtel Money (mobile money) has now processed $145 billion in transactions, representing a 34 per cent growth. Total customers also surged by 17.3 per cent to 44.6 million, driven by enhanced digital offerings and expanded use cases.

On the future outlook, the company noted that the Airtel Money IPO will happen during the first quarter of 2026. By virtue of this, the company aims to create value by drawing new investors, expanding its digital financial services, and supporting other investments in its network and digital platforms.

“We are making significant progress in our preparations for the Airtel Money IPO and remain committed to this objective,” said Sunil.