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Wafric News – May 9, 2025

Lagos, Nigeria — Telecommunications giant MTN Nigeria has deepened its commitment to national development, announcing a N3.5 billion investment in Corporate Social Investment (CSI) initiatives for the year 2024. This brings the company’s total CSI spend to a remarkable N31.9 billion since its launch in Nigeria.

Speaking during a presentation of MTN’s 2024 Sustainability Report at the Nigerian Exchange Limited (NGX) in Lagos, Chief Corporate Services and Sustainability Officer Tobe Okigbo reaffirmed the company’s long-term focus on environmental responsibility, digital inclusion, and community development.

“Our investment in 2024 alone touched over 663,000 lives, empowered 628 small businesses, and improved learning in 62 schools nationwide,” Okigbo noted.

Highlighting strides in environmental sustainability, MTN Nigeria deployed 194 new solar-powered telephony sites in rural communities and introduced West Africa’s first eco-friendly SIM cards aimed at reducing plastic waste.

MTN Nigeria also achieved a significant governance milestone by becoming the first company in the country—and within the wider MTN Group—to earn the Compliance Management System certification from the International Accreditation Service.

Further underlining its economic footprint, Esosa Balogun, General Manager of Risk Management at MTN Nigeria, revealed the company remitted N764.2 billion to the Nigerian government in taxes, levies, and duties in 2024—a 39.1% increase year-on-year.

MTN’s dedication to transparency and stakeholder engagement was also evident. The telecom firm has adopted the International Financial Reporting Sustainability Disclosure Standards ahead of regulatory deadlines and actively participates in both national and global sustainability working groups.

Through initiatives like “What Can We Do Together?”, the company enables Nigerians to identify and execute grassroots development projects, promoting community-led growth.

Operationally, MTN Nigeria reported robust performance with 93% network coverage and over 2.8 million active MoMo wallets. It also sourced nearly 60% of its procurement from local suppliers—an effort to strengthen local economies and reduce import reliance.

NGX CEO Jude Chiemeka, also present at the event, underscored the importance of sustainability as a strategic imperative, not just a corporate obligation.

“ESG factors are increasingly shaping investment decisions. Businesses that embrace sustainability are better equipped to mitigate risks and seize emerging market opportunities,” he said.

Chiemeka called on corporate leaders to align with sustainable practices, adding that effective reporting and accountability are key to driving investor confidence and long-term market participation.

Meanwhile, recent financial reports show MTN Nigeria’s data revenue has overtaken voice services for the first time. In Q1 2025, data income surged to N529.4 billion—up 51.5% from N349.5 billion in the same period last year.

MTN Nigeria’s evolving strategy reflects a broader shift within Africa’s telecom sector, where corporate responsibility and technology-driven development are becoming critical levers for inclusive growth.


By WafricNews Desk.

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