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MTN Nigeria Stock Performance from 2019 Till Date

Last updated on April 21st, 2023 at 12:33 pm


Incorporated on November 8, 2000, MTN Nigeria (MTNN) is part of the MTN Group, Africa’s leading cellular telecommunications company with operations in the Middle East.

MTNN Share Price May 10, 2022:

Open: NGN249

Close: NGN240

Change: -9

Market Capitalisation: NGN4,885,083,132,000.00 (as of Tuesday , May 10, 2022)

It officially launched in 2001, when the first call was made on its network on May 16 in Lagos, Nigeria’s commercial city. Since then it has expanded its network across Nigerian villages and towns.

Its expansion and growth made the MTNN take a giant stride on May 16, 2019, when it was listed on Nigerian Exchange Group NGX (formerly Nigeria Stocks Exchange). Today, MTN Nigeria is listed as one of the top best companies to work in Nigeria, according to LinkedIn Insights.


From that action, MTNN stock performance has continued to attract hundreds of stock investors within and outside Nigeria to be part of the company’s success story.

As of the time of publication, MTNN is the most traded stock on the NGX and its 2021 Public Offer (shares) showed how investors (first-timers and existing ones) were excited about being one of the hundreds of shareholders of the telecommunication company.

Brief History:

In 2001, Africa’s telecom giant gets a nod from the Nigerian Communications Commission (NCC) to begin to provide mobile services in Nigerians after acquiring two licences: 1) GSM 900MHz and 2) GSM 1,800MHz. It acquired its 2GHz spectrum licence from NCC in 2007 paving the way for it to provide 3G services across the country.

After launching full commercial operations in three major Nigerian cities: 1) Abuja, 2) Lagos, 3) Port Harcourt, its subscribers have grown exponentially such that it has the most subscribers in Nigeria when compared to other countries where it operates.

In less than 24 hours after its first call on its network, its subscribers had grown to over one million and reached ten million subscribers by 2006.

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By 2013, 50 million subscribers were live on the MTN Nigeria network, according to NCC data and between 2013 to 2018, it had added 17 million subscribers to its existing users.

It offers 4G LTE using the 700MHz, 1800MHz and 2600MHz spectrums.

MTN Mobile Phone Prefixes in Nigeria

The telecom company continues to add more numbering ranges to its network after exhausting initial subscriber numbering ranges. As of January 3, 2022, MTN Nigeria’s mobile phone prefixes are:

  • 0803
  • 0806
  • 0703
  • 0706
  • 0810
  • 0816
  • 0903
  • 0906
  • 0813
  • 0814
  • 0913
  • 0916

Brief Company Profile:

  • Trading name: MTN Nigeria Communications Plc
  • Ticker symbol: MTNN
  • Sector: ICT
  • Subsector: Telecommunications Services
  • Market Classification: Premium Board
  • Website:

Board of Directors

Board members Position
Ernest Ndukwe Chairman
Karl Olutokun Toriola Chief Executive Director
Modupe Kadri Chief Financial Officer
Paul Norman Non-Executive Director
Rhidwaan Gasant Independent Non-Executive Director
Ralph Mupita Non-Executive Director
Muhammad K. Ahmad Independent Non-Executive Director
Abubakar B. Mahmoud Non-Executive Director
Tsholofelo Molefe Non-Executive Director
Andrew Alli Non-Executive Director
Jens Schulte-Bockum Non-Executive Director
Michael Onochie Ajukwu Independent Non-Executive Director
Ifueko M. Omoigui Okauru Non-Executive Director
Omobola Johnson Non-Executive Director
Ferdi Moolman Non-Executive Director

MTNN Stock Performance:

On May 16, 2019, the MTNN was officially listed on the Nigerian Exchange Group (NGX) with 20,354,513,050 ordinary shares at N90.00 per share after 18 years of operation in Nigeria. It was long overdue.

The Group CEO of the Nigerian Exchange Group (NGX) at the time Oscar Onyema who expressed excitement said:

“I congratulate the Board and Management of MTN Nigeria on its successful listing on NSE Premium Board. We are delighted to welcome MTN Nigeria to the Exchange”.

2019 stock performance:

The appreciation in MTN Nigeria share by the end of 2019 was impressive as it gained 16.7 per cent, trading at NGN105 per share with 2,137,223,865 market capitalisation on December 31, 2019. While the number of shares issued and fully paid at the end of 2019 was 20,354,513, according to its consolidated and separate financial statements for the year under review.

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Like a valuable scarce commodity, by December 31, 2020, its share rose by 88.8 per cent as it rose to NGN169.90 per unit, making it one of the most traded stocks and one of the most valuable equities.

2020 stock performance:

Africa’s giant telecommunication company welcomed the year 2020 with so much prospect and thrilled its investors by the end of the year as its market capitalisation rose to 3,458,232 as against 2,137,224 that was recorded in 2019, it grew by 61.8 per cent in market capitalisation.

Aside from that, its assets also grew across Nigeria. It expanded its coverage, added more subscribers to its network and showed many more growth indicators.

MTNN Dividend Payout:

From 2019 till date, the MTNN has never disappointed its investors, here is the timeline of dividend payout by MTN in Nigeria:

Year Dividend Payout
2019 NGN7.92 per share
2020 NGN9.40 per share
2021 NGN8.57 (To be paid by April 28, 2022)

2021 MTNN PO

In November 2021, MTNN share price reached an All-Time High (ATH) of NGN209.90 per unit a few days before its Public Offer went live on Primary Offer (an App developed by NGX).

On Tuesday, November 30, 2021, the company announced its sales of 575 million shares at N169 per share would go live from December 1 through December 14, 2021.

“The offer includes an incentive in the form of one free share for every 20 shares purchased, subject to a maximum of 250 free shares per investor,” Chief Executive Officer, Mr Karl Toriola, declared at a press conference.

Its stock performance in the first year of listing and 2020 got the attention of investors.

MTNN Trading Data for January 2022

Date Open (NGN) Close (NGN) Trades Volume Value (NGN)
01/04/22 197 197 180 122,828 23,654,659.30
01/05/22 197 197 155 592,253 109,820,221.40
01/06/22 197 197.00 144 413,787.00 76,232,318.70
01/07/22 197 197.00 171 667,122 123,459,996.60
01/10/22 197 185.50 148 1,773,328 329,795,952.90
01/11/22 185.5 NGN186.00 102 348,386 64,827,127.40
01/12/22 186 190.00 173 2,569,293 485,765,736.50
01/13/22 190.00 190.00 121 3,109,750 590,796,644.40
01/14/22 190 190 101 3,630,312 689,576,622.20
01/17/22 190 190 136 961,466 182,686,379.00
01/18/22 190 190.00 107 154,392 29,438,515.40
01/19/22 190 190 104 131,316 25,222,458.00
01/20/22 190 190 113 339,702 65,508,157.90
01/21/22 190 190 82 33,811 6,496,057.90
01/24/22 190 190 128 117,498 22,525,041.70
01/25/22 190 190 141 2,313,251 439,675,780.70
01/26/22 190 190 118 5,237,987 995,268,654.80
01/27/22 190 190 120 1,734,115 329,674,153.20
01/28/22 190 190 103 4,750,806 902,655,325.60
01/31/22 190 197.50 177 378,043 73,999,543.70
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The analysis of MTN Nigeria Year-To-Date in 2021, has consistently shown that it’s a promising company to invest in: judging from its payout dividend since it was listed in 2019 till date. And the beauty of the companies listed on the NGX is that you buy stock from any part of the world.

Is MTN Share Profitable?
To buy MTN stock, it’s advisable to buy from a stockbroker that embraces technology most especially the one that has an app and responds swiftly to enquiry.

You can buy MTN share any time you wish provided it’s still listed on the Nigeria Exchange Group. You don’t have to wait till another Public Offer (no one knows when the next one would be), as such, you can reach out to any of the certified
Stock Brokers in Nigeria
How can I buy
MTN shares?


MTN Nigeria Stock Performance since 2019 was listed has been positive using indicators like its Market capitalization and payout dividend in 2019 and 2020 (NGN7.92 and NGN9.40 per share respectively. Over time, it has shown positive result that gives assurance on Return on Investment (ROI).

  1. Nigeria Exchange Group (March 2, 2020). “MTN Nigeria Communications Plc – Audited Financial Statements for the Year ended 31 Dec. 2019”. Retrieved January 4, 2022
  2. Wikipedia. “Telephone numbers in Nigeria”. Retrieved January 3, 2022
  3. Vanguardngr (December 1, 2021). “MTN offers 575m shares at N169 per share”. Retrieved January 3, 2022
  4. Featured image By Austin Distel on Unsplash

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