MTN and Airtel are finding ways to recover after reporting a combined $1.56 billion loss due to the naira’s devaluation.

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MTN and Airtel are finding ways to recover after reporting a combined $1.56 billion loss due to the naira’s devaluation.

Telecom giants MTN and Airtel are pivoting to a naira-focused strategy after suffering $1.56 billion in FX losses due to the naira’s steep depreciation. Both companies have reduced their foreign loans, renegotiated contracts to minimize dollar liabilities, and implemented cost-saving measures. Despite these efforts, the telecom industry is advocating for a tariff increase to align with economic realities and ensure sustainability.

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David Abi
David Abi

Abi David is a seasoned digital marketer with over 5 years of expertise in crafting impactful online strategies. Skilled in SEO, social media management, content creation, and analytics, Abi helps businesses boost visibility and drive growth. Known for innovative campaigns and data-driven solutions, Abi delivers measurable results that resonate with audiences and meet business goals.

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