MTN Nigeria loses N519bn in six months due to inflation, weak naira
MTN Nigeria Communications Plc reported a loss after tax of $519.1 billion for the first half of 2024, due to record-high inflation and a weaker naira.
This disclosure was made in its financial results for the period ending June 2024, according to an e-copy of the report obtained by The PUNCH on Wednesday.
Commenting on the results, the Chief Executive Officer of MTN Nigeria said, “The macroeconomic conditions in Nigeria have been challenging during this period. The country has been grappling with rising inflation and the continued depreciation of the naira against the US dollar and other currencies.
