Home Business Mobile phone operators’ assets rise by N804bn

Mobile phone operators’ assets rise by N804bn

by News Echo
2 minutes read

The assets of the six Mobile Network Operators in Nigeria increased by N804.09bn or 0.38 per cent in 2019, a latest report by the Nigerian Communications Commission stated.

The 2019 Subscriber/Network Data Report stated that the total value of assets in the industry increased from N2.11tn in 2018 to N2.91tn as of the end of 2019.

According to the report, MTN reported the highest value in assets in 2019 at N1.53tn, indicating a 63 per cent increase from N939.56bn reported in 2018.

The total value of Globacom’s assets as contained in the report as of the end of 2019 was N598.17bn, representing one per cent growth from N592.08bn in 2018.

Airtel Nigeria’s assets grew by 43 per cent in 2019 from N357.75bn in 2018 to N510.99bn as of the end of 2019.

EMTS that operates as 9mobile grew its assets to N217.05bn in 2019 from N162.64bn reported in 2018, recording 33 per cent growth in assets.

The report stated that Smile’s assets reached N22.9bn as of the end of 2019, growing by 0.4 per cent from N22.8bn recorded in 2018.

However, Ntel recorded 11 per cent decline in the value of assets in 2019, from N34.23bn in 2018 to N30.58bn in 2019.

The NCC report stated that the mobile operators as of December 2019 recorded a total revenue of N1.96tn as against N1.76tn recorded in Year 2018.

This reflects an increase of 11.01 per cent of total revenue recorded by the Mobile Network Operators.

MTN recorded the highest revenue in 2019 at N1.17tn while Nitel recorded the lowest sum of N4.61bn as of the end of 2019.

EMTS recorded a decline of 18 per cent in revenue generated year-on-year.

According to the report, the company’s revenue declined from N169.15bn in 2018 to N138.67bn as of the end of 2019.

The report stated that the total operating cost of the Mobile Network Operators declined from N1.40tn in 2018 to N1.39tn as of the end of 2019.

This indicates a slight reduction in operational cost of 0.53 per cent from the figures reported in 2018.

The NCC stated that the reduction in operating cost may have been as a result of investment in capital expenditure that was more efficient.

The industry regulator noted that Smile and Ntel recorded the highest percentage decline of 22 per cent and 16 per cent respectively in operating cost year-on-year.

You may also like