Airtel Africa Plc increased its capital expenditure in Nigeria to $39m in the second quarter of 2025, up 1.7 per cent from $38m in the same period last year, according to the company’s financial statement obtained by Sunday PUNCH.
The marginal increase highlights Airtel’s continued investment in its largest and most strategic market, despite a broader slowdown in group-level capital spending this quarter.
The increase in capital spending comes at a time when telecom subscribers are expecting tangible improvements in service quality, following a 50 per cent tariff adjustment approved by the Nigerian Communications Commission earlier this year. Telcos have begun to show signs of commitment to network upgrades, bolstered by the recent delivery of telecom equipment valued at $1bn.
“In Nigeria, capital expenditure for the quarter ended 30 June 2025 was $39m, compared to $38m in the same period last year,” the country’s second biggest operator, with 53.6 million subscribers, stated.
Group-wide capital expenditure stood at $121m in the three months ended June 30, representing a decline from the previous year, which the company attributed to timing differences in project execution.
However, Airtel maintained its full-year capex guidance at between $725m and $750m, indicating that more spending is anticipated in the coming quarters.
Capital expenditure, or Capex, refers to the funds used by a company to acquire or upgrade physical assets such as network towers, fibre infrastructure, and IT systems. In Nigeria, the $39m spent during the quarter was likely directed toward expanding and modernising the operator’s mobile and broadband networks, enhancing service coverage and capacity in urban and rural areas.
“With a strong balance sheet and sustained network investment, I remain confident about our ability to capture the available growth potential across our markets and remain committed to efficiently and effectively delivering services that help to improve the lives, communities, and economies we serve, “ Airtel’s Chief Executive Officer, Sunil Taldar, stated.
Airtel Africa, which operates in 14 countries across the continent, continues to emphasise Nigeria as the primary engine of its business growth, citing strong data consumption and customer demand. The company also reported that robust performance in Francophone Africa contributed to overall revenue acceleration, driven by a sustained focus on improving customer experience.
Beyond infrastructure investment, the telecom giant made progress on its debt management strategy during the quarter, reducing its exposure to foreign currency volatility.
Nearly 95 per cent of Airtel’s operating company debt, excluding lease liabilities, is now denominated in local currencies, up from 86 per cent a year ago. This is part of a deliberate debt localisation program aimed at shielding the company from exchange rate fluctuations that have affected several African economies, including Nigeria.
