- Airtel Nigeria has reported a N980 billion revenue for the financial year ended March 31, 2023.
- The revenue was buoyed by a 27.8% growth in data income as its customers increased data consumption over the period.
- The company’s voice revenue grew by 13.4%.
Telecommunications operator, Airtel Nigeria, raked in the sum of N980 billion ($2.128 billion) from its services for the financial year ended March 31, 2023. This represents a 20.3% growth year on year compared with the N864.9 billion ($1.878 billion) recorded in the same period last year.
According to the audited financial report released by Airtel’s parent company, Airtel Africa, the Nigeria operating company recorded a 13.4% growth in voice revenue to N484.9 billion ($1.053 billion), while data revenue for the period rose by 27.8% to N407.1 billion ($884 million).
Airtel, however, pointed out that the results would have been better but for the cash scarcity experienced in Nigeria in the first quarter of this year, which slowed down its revenue in the period.
The company further disclosed that 50% of total recharges by Nigerians are cash-based, which was why its revenue was impacted by the recent cash crunch.
Increase in data consumption
While highlighting the impact of data on its results, Airtel disclosed that its 2023 revenue was boosted by both data customer base growth of 17.3% and data ARPU growth of 9.9%.
Commenting on Airtel Nigeria data push and consumption, Airtel Africa CEO, Segun Ogunsanya said:
- “Over the last year, we have enhanced our 4G network with ample data network capacity to provide high-speed data to our customers with almost 100% of our sites now on 4G and data capacity increase of 27.5%.
- “This has contributed to 4G data customer growth of 27.6%. Data usage per customer increased by 24.8% facilitating continued data ARPU growth. Data usage per customer reached 5 GB per customer per month from 4 GB per customer per month in the previous period.
- “In Q4’23, 4G data usage per customer increased to 9.5 GB per month (up by 46.5%) from 6.5 GB per customer per month in prior period. 4G data usage now contributes to 80.4% of total data usage on our network.”
Enhancing data offering
The company which acquired 5G licence in January this year said it will continue to push quality data offering by expanding its 4G coverage, while the soon-to-be-launched 5G will enhance the experience for its customers.
- “The acquisition of 5G spectrum will underpin our growth strategy by enabling the launch of higher speed connectivity to enhance customer service and accelerate digitalization for consumers, enterprises, and the public sector.
- “The key benefits of 5G will include higher speeds, lower latency, significant network capacity as well as an improved user experience. Furthermore, the deployment of 5G will accelerate the availability and efficiency of fixed wireless access products across the country, contributing towards Airtel Nigeria’s progress in meeting the National Broadband Plan targets.” Ogunsanya said.
He said the recent acquisition of 2600 MHz spectrum by Airtel will also complement its already strong spectrum position in the market to enhance network capacity and future-proof its growth opportunity.
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