Briclinks Africa Plc, trading as Btel, recorded a profit of ₦10.58 million in the first quarter of 2025, continuing its growth across Nigeria’s broadband and mobile telecoms market, according to financial statements filed on the Nigerian Stock Exchange.
The Abuja-based telecommunications company, formerly known as Bricnet, reported revenue of ₦131.67 million between January and March 2025, up from ₦128.54 million in the previous quarter. Its retained earnings rose to ₦56.06 million, marking a trend of quarterly profitability.
Btel operates under four active licences issued by the Nigerian Communications Commission (NCC), enabling it to provide internet, telecoms, and installation services across regions and technologies.
The telecoms company’s unaudited results show total assets of ₦8.18 billion and liabilities of ₦8.11 billion. Administrative expenses for Q1 total ₦36.25 million, with ₦19.41 million attributed to depreciation and amortisation. Cash reserves grow from ₦66.79 million to ₦96.79 million, while the company maintains a working capital ratio of 9.22. Btel reports no tax expense, borrowings, or post-balance sheet events for the period.
Btel’s hybrid model—merging ISP functions with MVNO capabilities
Btel holds two Private Network Link (PNL-Regional) licences—one for Abuja valid through January 2031 and another for Lagos valid until February 2033—alongside an Internet Service Provider (ISP) licence and a Tier 2 Mobile Virtual Network Operator (MVNO) permit. The MVNO licence, obtained in May 2023, allows Btel to offer mobile services for 10 years, and spurred the company’s rebranding from Bricnet to Btel in June 2023.
Btel delivers services via its cloud-based Network-as-a-Service (NaaS) platform, supporting SIM and eSIM plans, VoIP, mobile broadband, and managed connectivity for enterprise clients. The platform, powered by Cisco technologies, enables businesses to shift from capital-heavy infrastructure to scalable, pay-as-you-go models suited for security, remote work, and multi-site connectivity.
Btel describes its NaaS as a flexible, cloud-managed connectivity service that allows businesses to scale and automate their networks, shifting from capital-intensive investments to pay-as-you-go operations. The system is powered by Cisco tools and supports enterprise needs across security, remote work, and multi-location connectivity.
The telecoms company’s unaudited results show total assets of ₦8.18 billion and liabilities of ₦8.11 billion. Administrative expenses for Q1 total ₦36.25 million, with ₦19.41 million attributed to depreciation and amortisation. Cash reserves grow from ₦66.79 million to ₦96.79 million, while the company maintains a working capital ratio of 9.22. Btel reports no tax expense, borrowings, or post-balance sheet events for the period.
As of March 2025, broadband penetration in Nigeria reaches 47.73%, with over 103 million subscriptions, according to the NCC. While mobile internet leads usage, Btel’s hybrid model—merging ISP functions with MVNO capabilities—positions the company among next-generation players reshaping Nigeria’s telecoms sector.
The telecoms firm operates under multiple regulatory licences granted by the Nigerian Communications Commission (NCC), allowing it to deliver services across regions and technology categories. According to NCC records:
- It holds a Private Network Link (PNL-Regional) licence for Abuja, valid from February 1, 2021, to January 31, 2031.
- A second PNL-Regional licence for Lagos runs from March 1, 2023, to February 28, 2033.
- The company also operates as an Internet Service Provider, licensed from July 1, 2023, to June 30, 2028.
- It also holds a Tier 2 Mobile Virtual Network Operator (MVNO) permit, which took effect May 1, 2023, and is valid for 10 years through April 30, 2033.
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