MTN Nigeria Communications Plc has reported a total tax and levy payment of ₦764.2 billion to the Nigerian government in 2024. This marks a 40.5% increase from the ₦543.9 billion paid in 2023.
The figures were revealed in MTN’s 2024 Sustainability Report, which highlights the company’s commitment to environmental, social, and governance (ESG) principles.
MTN’s report shows significant progress in expanding its national network. Coverage now reaches 93% of Nigeria’s geographical area, ensuring wider access to telecommunications.
The company has also adopted the International Financial Reporting Sustainability Disclosure Standards (IFRS S1 and S2) ahead of the Financial Reporting Council of Nigeria’s mandatory deadline.
CEO Karl Toriola expressed optimism about MTN’s impact.
“From expanding our network footprint to achieving 93% coverage, to reducing Scope 1 and 2 emissions by 11% since 2021, we are making tangible progress,” he said.
“We’ve increased female representation in our workforce to 41.4% and directed 59.6% of our spending to local suppliers. We contributed ₦764 billion in taxes to support national development and invested ₦3.5 billion in corporate social initiatives, improving over 663,300 lives.”
Sustainability Milestones and Renewable Energy Expansion
MTN Nigeria has reduced carbon emissions, cutting Scope 1 and 2 emissions from 113,826 tCO₂e in 2021 to 101,300 tCO₂e in 2024. Despite a slight increase compared to last year, the company achieved an 11% overall reduction.
The company is also pushing green energy solutions, installing 194 solar-powered rural telephony sites. MTN became the first telecom provider in West Africa to launch environmentally friendly SIM cards.
Chief Corporate Services and Sustainability Officer, Tobe Okigbo, emphasized the company’s broader vision.
“Our initiatives go beyond business priorities. We continue to invest in social programs that create real impact, particularly through the MTN Foundation,” he said.
He referenced the “What Can We Do Together” campaign, which has transformed lives and supported grassroots development since its launch in 2015.
MTN Returns to Profitability Amid Economic Challenges
MTN Nigeria announced a strong financial recovery in the first quarter of 2025, reversing earlier losses caused by foreign exchange fluctuations and inflation.
This rebound is largely attributed to a 50% tariff adjustment approved by the Nigerian Communications Commission (NCC).
During the same period, the company expanded its infrastructure investment, spending ₦202.4 billion—159% more than the ₦78.1 billion spent in early 2024.
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