By Ayomide Otitoju
MTN Nigeria Communications Plc has announced a ₦3.5 billion investment in Corporate Social Investment (CSI) initiatives for the 2024 fiscal year, bringing its total CSI spending since inception to ₦31.9 billion.
The company disclosed the development during the presentation of its 2024 Sustainability Report at the Nigerian Exchange Limited (NGX) in Lagos on Thursday.
According to Tobe Okigbo, MTN Nigeria’s Chief Corporate Services and Sustainability Officer, the investment reflects the company’s ongoing commitment to fostering digital inclusion, environmental sustainability, and socio-economic development across Nigeria.
“Our efforts have made a tangible impact, benefitting over 663,300 individuals, supporting 628 small businesses, and improving educational outcomes in 62 schools nationwide,” Okigbo said.
Key achievements highlighted in the report include the deployment of 194 solar-powered rural telephony sites and the launch of West Africa’s first eco-friendly SIM cards aimed at reducing plastic waste. MTN Nigeria also achieved a major compliance milestone, becoming the first Nigerian company and the first in the MTN Group to earn the Compliance Management System certification from the International Accreditation Service.
Esosa Balogun, the company’s General Manager for Risk Management, revealed that MTN Nigeria paid ₦764.2 billion in taxes, duties, and levies to the Nigerian government in 2024, representing a 39.1 per cent increase over the previous year.
The company has also taken a leadership role in sustainability reporting, becoming an early adopter of the International Financial Reporting Sustainability Disclosure Standards ahead of the Financial Reporting Council of Nigeria’s compliance deadline. It joined both the ISSB’s Transition Implementation Group and the FRC’s Adoption Readiness Working Group.
“Through platforms like ‘What Can We Do Together?’, stakeholder forums, and independent assessments, we ensure transparency, accountability, and measurable impact,” Balogun stated.
MTN Nigeria reported a 93 per cent national network coverage rate and over 2.8 million active MoMo wallets in 2024. The company also noted that 59.6 per cent of its procurement spending was directed toward local suppliers.
Jude Chiemeka, Chief Executive Officer of NGX, commended MTN Nigeria’s approach, describing sustainability as no longer a corporate afterthought but a critical business driver.
“Companies that integrate sustainability at their core are better positioned to manage risks, enhance brand value, and meet the rising demand for responsible business practices,” Chiemeka stated.
He added that MTN’s report reinforces the importance of robust sustainability disclosure platforms in building investor trust and advancing capital market development.
