By Chukwuma Umeorah
MTN Nigeria Communications Plc (MTNN) has announced the payment of N764.2 billion in taxes, levies, and duties to the Nigerian government in 2024, reinforcing its position as a major fiscal contributor and a leader in responsible corporate governance.
The disclosure was made during the presentation of the company’s 2024 Sustainability Report at the Nigerian Exchange Limited (NGX) in Lagos recently. Beyond its significant tax footprint, the company highlighted strong performance across environmental, social, and governance (ESG) metrics and reaffirmed its growing value to shareholders. The report ranked MTN as the fourth most capitalised company on the NGX, maintaining its leadership status in Nigeria’s capital market.
“We have contributed N764.2 billion in taxes and levies to support national development. These efforts reflect our unwavering dedication to long-term value creation and building a more connected, sustainable future,” said Karl Toriola, Chief Executive Officer of MTN Nigeria.
Toriola noted that ESG leadership has become central to the company’s ability to build trust among stakeholders. “Sustainability is at the core of our strategy, and our 2024 Sustainability Report demonstrates how we are strengthening business resilience, mitigating risks, and unlocking opportunities for long-term value creation,” he said.
The company recorded a 36 per cent year-on-year revenue growth and a 4.3 per cent increase in shareholders, rising to 145,911 in 2024, an indication of its growing appeal to investors despite Nigeria’s challenging economic conditions.
In the area of social impact, MTN invested N3.5 billion in corporate social investment (CSI) initiatives during the year, bringing its total CSI spending to N31.9 billion since inception. These initiatives impacted over 663,300 individuals, supported 628 small businesses, and enhanced learning infrastructure in 62 schools nationwide.
Toriola also revealed that MTN is one of the early adopters of the IFRS S1 and S2 sustainability reporting standards. “We are setting a benchmark in transparency and accountability in emerging markets,” he said, citing the company’s alignment with global standards such as GRI, SASB, and the NGX Sustainability Disclosure Guidelines.
Speaking further, MTN’s Chief Corporate Services and Sustainability Officer, Tobechukwu Okigbo, reiterated the telco’s long-term vision. “Our focus remains clear—embedding ESG across our business ecosystem, empowering our people, and aligning our strategy to deliver measurable, net-positive outcomes,” he said.
MTN also became the first telecommunications operator in West Africa to launch eco-friendly SIM cards, reinforcing its commitment to a low-carbon future.
According to Okigbo, the company’s sustainability milestones were validated by improved ESG ratings, including a CDP score of ‘B-’ for Climate Change, a ‘C’ for Water Security, and a Risk Insights ESG GPS rating of 3.6 out of 4.0, up from 3.4 in the previous year.
He also pointed to a 79 per cent Reputation Index score—surpassing the company’s 75 per cent benchmark and confirmed MTN’s continued top ranking in customer loyalty, as measured by the Net Promoter Score among Nigerian telecom operators.