MTN Nigeria’s 2024 Sustainability Report showcases a comprehensive commitment to environmental stewardship, social progress, and robust governance, solidifying the company’s role as a responsible corporate citizen in Nigeria. With a substantial investment of N3.5 billion in Corporate Social Investment (CSI) initiatives during 2024, MTN Nigeria has brought its total CSI expenditure to an impressive N31.9 billion since its inception. This significant financial commitment underscores the company’s dedication to driving positive change across the nation, impacting over 663,300 individuals, supporting 628 small businesses, and enhancing educational outcomes in 62 schools nationwide. These initiatives demonstrate a multifaceted approach to social responsibility, addressing key areas of development and contributing to the overall well-being of Nigerian communities.
MTN Nigeria’s commitment to environmental sustainability is evident in its proactive measures to reduce its environmental footprint. The deployment of 194 new solar-powered rural telephony sites not only expands network coverage to underserved areas but also promotes the use of renewable energy, mitigating the reliance on fossil fuels. Furthermore, the introduction of West Africa’s first eco-friendly SIM cards demonstrates a commitment to reducing plastic waste and promoting circular economy principles within the telecommunications sector. These actions align with global sustainability goals and position MTN Nigeria as a leader in environmentally conscious business practices within the region.
The company’s focus on robust governance practices is underscored by its achievement of the Compliance Management System certification from the International Accreditation Service, a first for both a Nigerian company and a company within the MTN Group. This certification signifies MTN Nigeria’s adherence to rigorous international standards for compliance and reinforces its commitment to ethical operations and transparency. Coupled with a substantial contribution of N764.2 billion in taxes, levies, and duties to the Nigerian government, a 39.1% increase from the previous year, MTN Nigeria demonstrates its commitment to contributing to the economic growth and stability of the country. This substantial financial contribution highlights the company’s significant role in supporting government revenue and facilitating national development.
MTN Nigeria’s proactive adoption of the International Financial Reporting Sustainability Disclosure Standards (IFRS S1 and S2), ahead of the mandatory deadline set by the Financial Reporting Council of Nigeria (FRC), exemplifies its dedication to transparency and accountability. By joining the ISSB’s Transition Implementation Group and the FRC’s Adoption Readiness Working Group, MTN Nigeria actively participates in shaping the future of sustainability reporting, demonstrating leadership within the Nigerian business landscape. The company’s commitment to stakeholder engagement is exemplified through initiatives like the “What Can We Do Together?” program, empowering local communities to identify and implement development projects that address their specific needs. This participatory approach fosters a sense of ownership and ensures that development initiatives are relevant and sustainable within the targeted communities.
MTN Nigeria’s commitment to local sourcing is reflected in its procurement practices, with 59.6% of its spending directed towards local suppliers. This conscious effort contributes to the growth and development of local businesses, stimulating economic activity and creating job opportunities within the Nigerian economy. Maintaining a 93% network coverage rate and reporting over 2.8 million active MoMo wallets in 2024 signifies MTN Nigeria’s continued expansion of digital financial services, providing access to financial tools for a growing segment of the population. This expansion of mobile money services contributes to financial inclusion and empowers individuals and businesses to participate more fully in the digital economy.
The evolving landscape of corporate sustainability is transforming from a peripheral responsibility to a core business imperative, as highlighted by the CEO of the Nigerian Exchange Limited, Jude Chiemeka. Environmental, Social, and Governance (ESG) factors are increasingly influencing investment decisions, emphasizing the need for companies to integrate sustainability into their core operations. This shift towards sustainability is driven by growing awareness of global challenges and the recognition that businesses have a crucial role to play in addressing these issues. By embracing sustainable practices, companies not only mitigate environmental and social risks but also enhance their brand value and capitalize on the growing demand for sustainable products and services. Robust sustainability reporting platforms, like those offered by NGX, further enhance transparency and investor confidence, fostering greater market participation and driving sustainable economic growth. MTN Nigeria’s proactive approach to sustainability reporting and its commitment to ESG principles position it as a leader in the Nigerian market and contribute to the overall development of a more sustainable and resilient economy. The company’s continued growth, with data revenue surpassing voice earnings in the first quarter of 2025, demonstrates the increasing importance of data services and the company’s ability to adapt to evolving market demands.
