MTN Nigeria Communications Plc has announced that it invested N3.5 billion in Corporate Social Investment (CSI) initiatives in 2024, raising its total social impact spending to N31.9 billion since inception. The telecoms giant made this known on Thursday during the “Facts About the Sustainability Report” presentation at the Nigerian Exchange Limited (NGX) in Lagos.
According to the company’s Chief Corporate Services and Sustainability Officer, Tobe Okigbo, the investment aligns with MTN’s goal to create long-term value for its stakeholders while deepening digital inclusion, environmental sustainability, and socio-economic progress across Nigeria.
“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,” Okigbo said.
He also noted that MTN Nigeria’s 2024 Sustainability Report reflects its dedication to embedding Environmental, Social, and Governance (ESG) practices into its core operations. These practices are designed to foster inclusion and development, especially in rural communities.
In line with its environmental sustainability agenda, MTN Nigeria deployed 194 new solar-powered rural telephony sites, aimed at improving connectivity in underserved areas while reducing reliance on fossil fuels. The company also launched West Africa’s first eco-friendly SIM cards to reduce plastic waste and promote environmental consciousness in the telecommunications sector.
On corporate governance, MTN Nigeria achieved a major milestone by becoming the first Nigerian company — and the first within the MTN Group — to receive Compliance Management System certification from the International Accreditation Service. This reinforces the company’s commitment to regulatory compliance and operational transparency.
General Manager of Risk Management at MTN Nigeria, Esosa Balogun, also spoke at the event, revealing that the company paid N764.2 billion in income taxes, levies, and duties to the Nigerian government in 2024 — a 39.1% increase compared to the previous year.
Balogun added that MTN Nigeria is among the first companies in Nigeria to adopt the International Financial Reporting Sustainability Disclosure Standards, even before the mandatory date set by the Financial Reporting Council of Nigeria. The company is actively participating in the ISSB’s Transition Implementation Group and the FRC’s Adoption Readiness Working Group to help shape sustainability disclosure frameworks in the country.
“Through stakeholder forums, grievance mechanisms, and independent impact assessments, we maintain transparency, measure effectiveness, and ensure long-term sustainability,” he stated. Balogun also highlighted the community-based “What Can We Do Together?” initiative, which empowers Nigerians to propose and implement grassroots development projects.
Other notable achievements recorded by MTN Nigeria in 2024 include a 93% network coverage rate, over 2.8 million active MoMo (Mobile Money) wallets, and the fact that 59.6% of its procurement spending was allocated to local suppliers — reflecting a strong commitment to domestic economic growth.
In his remarks, Chief Executive Officer of NGX, Jude Chiemeka, commended MTN Nigeria for setting a standard in sustainability reporting and social responsibility. He said sustainability has evolved from being a corporate add-on to a critical part of long-term business success.
“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,” Chiemeka said.
He emphasised that companies prioritising ESG practices are not only better equipped to manage risk but also stand to benefit from increased brand value and the growing global demand for sustainable products and services.
MTN Nigeria’s commitment to sustainable business appears to be translating into stronger performance. The company recently reported that data revenue outpaced voice revenue in Q1 2025, hitting N529.4 billion — a 51.5% increase from N349.5 billion in Q1 2024. This shift points to increasing demand for digital services, a key focus area in MTN’s long-term strategy.
