MTN Nigeria Communication Plc said it paid the sum of N764.2 billion in taxes and levies to the Nigerian government in 2024.
This shows a 40.5% increase in payments when compared with the N543.9 billion the company paid in 2023.
The company disclosed this in its 2024 sustainability report just released, which highlights its Environmental, Social, and Governance (ESG) practices.
In addition, MTN said it was able to expand its network coverage to cover 93% of the country’s landscape.
Commenting on the report, which is the second edition, MTN Nigeria’s CEO, Karl Toriola, said MTN was one of the early adopters of the International Financial Reporting Sustainability Disclosure Standards (IFRS S1 and S2), ahead of the mandatory date set by the Financial Reporting Council of Nigeria.
“From expanding our network footprint to achieve 93% coverage to reducing our Scope 1 and 2 emissions by 11% compared to the 2021 baseline, we are making tangible progress.
“We have increased female representation in our workforce to 41.4%, empowered local businesses by directing 59.6% of our spend to local suppliers in the year, contributed N764 billion in taxes and levies to support national development, and invested N3.5 billion in Corporate Social Investment initiatives, positively impacting over 663,300 lives.
“These efforts reflect our unwavering dedication to long-term value creation and building a more connected, sustainable future,” Toriola stated.
The MTN boss also disclosed that the company reduced its Scope 1 and 2 emissions by 11.0%, lowering emissions from 113,826 tCO e (its 2021 2 baseline) to 101,300 tCO e – a 2.6% increase from the 2 previous year.
He said the company also expanded its renewable energy adoption by adding 194 solar-powered rural telephony sites and became the first telecommunications organisation in West Africa to launch eco-friendly SIM cards.
“Since its launch in September 2015, this initiative has transformed lives and contributed to grassroot development across Nigeria,” Okigbo added.
MTN Nigeria released its Q1 2025 showing improved performance despite the challenges in the operating environment.
After several quarters of losses occasioned by forex crisis and the rising inflation in the country, the company was able to bounce back to profitability in the quarter, thanks to a recent 50% tariff increment approved by the Nigerian Communications Commission.