MTN Nigeria Plc saw an uptick in the equities market on Monday as investors ramped up interest in the telecom stock ahead of its Q4 2024 earnings report. Data from the Nigerian Exchange (NGX) revealed that the stock climbed 1.24% to close at N253.1, with over 2.8 million shares traded.
The positive movement pushed MTN Nigeria’s market valuation to N5.313 trillion, as investors anticipate its earnings release. The telecom giant has faced earnings pressure due to substantial US dollar-denominated financial liabilities, which have weighed on its performance.
However, a recent tariff hike has bolstered the company’s earnings outlook, and ongoing deal renegotiations are expected to mitigate foreign exchange losses. In January, MTN Nigeria’s stock surged by 25%, driven by sustained bargain hunting from strategic investors in the local market.
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