Yemisi Izuora
MTN Nigeria Communications Plc has revealed payment of N764.2bn in taxes, levies, and duties to the Nigerian government in 2024.
The General Manager, Risk Management at MTN Nigeria Communications Plc, Esosa Balogun, who revealed this during the company’s “Facts About the Sustainability Report” presentation at the Nigerian Exchange Limited in Lagos on Thursday said the figure was up by 39.1 per cent.”
The telecommunications firm also announced a N3.5bn investment in Corporate Social Investment initiatives in 2024, bringing its total CSI spending to N31.9bn since inception, as part of efforts to deepen environmental sustainability, digital inclusion, and socio-economic impact across the country.
The company’s Chief Corporate Services and Sustainability Officer, Tobe Okigbo, disclosed this at the event.
Okigbo said the 2024 Sustainability Report highlights the company’s commitment to creating long-term value for stakeholders by embedding environmental, social, and governance practices across its operations.
According to him, MTN Nigeria’s interventions impacted over 663,300 individuals in 2024, supported 628 small businesses, and improved educational outcomes in 62 schools across the country.
“In 2024, we invested N3.5bn in Corporate Social Investment, bringing our total investment to N31.9bn since inception. Our efforts have made a tangible impact, benefitting over 663,300 individuals, supporting 628 small businesses, and improving educational outcomes in 62 schools across Nigeria,” he stated.
In line with its environmental goals, the company deployed 194 new solar-powered rural telephony sites and launched West Africa’s first eco-friendly SIM cards to cut down on plastic waste.
On governance, MTN Nigeria became the first Nigerian company and the first within the MTN Group to receive the Compliance Management System certification from the International Accreditation Service.
As part of its leadership in transparency, MTN Nigeria became an early adopter of the International Financial Reporting Sustainability Disclosure Standards ahead of the mandatory date set by the Financial Reporting Council of Nigeria. It also joined the ISSB’s Transition Implementation Group and the FRC’s Adoption Readiness Working Group.
Balogun stated that MTN Nigeria’s commitment to sustainability extends beyond business operations and includes active engagement with local communities through programmes such as “What Can We Do Together?”, which enables Nigerians to propose and implement development projects within their communities.
“Through stakeholder forums, grievance mechanisms, and independent impact assessments, we maintain transparency, measure effectiveness, and ensure long-term sustainability,” he said.
Additionally, MTN Nigeria maintained a 93 per cent network coverage rate and reported over 2.8 million active MoMo wallets in 2024. It also reported that 59.6 per cent of its procurement spending was on local suppliers.
In his remarks, the Chief Executive Officer of the Nigerian Exchange Limited, Jude Chiemeka, emphasized that sustainability has now evolved from a corporate responsibility add-on to a core business imperative.
He stressed that sustainability challenges continue to reshape global priorities, making Environmental, Social, and Governance factors essential to investment decisions.
“As business leaders, regulators, and educators, we share the responsibility to drive transformation. By working together, we can build a capital market that not only attracts investment but also supports societal progress and protects the environment,” the CEO stated.
He further highlighted that companies integrating sustainability at the core of their operations are not only better positioned to mitigate environmental and social risks but also more capable of strengthening brand value and capitalising on the rising demand for sustainable products and services.