In a strong show of private sector responsibility, MTN Nigeria has announced an investment of N3.5 billion into social development initiatives in 2024, reinforcing its role in national growth beyond telecommunications.
Tobechukwu Okigbo, the company’s Chief Sustainability Officer, shared the figures during the presentation of MTN’s sustainability performance at the Nigerian Exchange Ltd. (NGX) in Lagos. According to Okigbo, the impact has been widespread—touching the lives of over 663,000 individuals, enhancing education in 62 schools, and supporting more than 600 small businesses across Nigeria.
MTN also launched its SAVE campaign (Sustainability in Action, Value for Everyone) to foster a sustainability mindset within its workforce, reflecting a broader shift toward corporate citizenship and inclusive growth.
“We also enhanced the global accessibility of our 2023 sustainability report by digitally tagging it with the extensible Business Reporting Language (XBRL), for easy access by investors, rating agencies, and other which rose stakeholders.
“In 2024, we reduced our Scope 1 and 2 emissions by 11.0 per cent, lowering emissions from 113,826 CO²e which was our 2021 baseline, to 101,300 tCO²e, a 2.6 per cent increase from the previous year.
“We also expanded our renewable energy adoption by adding 194 solar-powered rural telephony sites and became the first telecommunisations organisation in West Africa to launch eco-friendly SIM cards, reinforcing our commitment to reducing our carbon footprint.”
Okigbo noted that MTN is fully committed to addressing gender disparity in the society by focusing on women empowerment through its Yellowpreneur platform.
He said through that platform, MTN made money available in some banks, which women had been able to access as loans with an interest, not more N3.00.
He noted that no fewer than 600,000 women had benefited from that initiative.
“Inclusion remains a priority, as evidenced by the increased female representation in our workforce, which rose to 41.4 per cent from 38.7 per cent in 2023, and by our expanded broadband coverage, which increased to 90.1 per cent from 89.8 per cent in 2023, deepening digital inclusion in Nigeria.
“We also contributed over N764.2 billion in taxes, levies, and duties to the Nigerian government.
“Our commitment to transparency is reflected in our improved sustainability performance metrics, including a Carbon Disclosure Project (CDP) rating of ‘B-‘ for Climate Change, a ‘ C’ for Water Security, a Risk Insights ESG GPS sustainability rating of 3.6/4.0, up from 3.4/4.0 in 2023.
“We also secured a reputation Index score of 79 per cent, exceeding our benchmark of 75 per cent,” he said.
Also speaking, Mr Jude Chiemeka, Chief Executive Officer of the Nigerian Exchange Ltd. (NGX) commended MTN for its leadership in sustainability reporting and transparent communication.
“With the engagement, MTN Nigeria reaffirms its commitment to sustainable business practises and transparent environmental, social and governance disclosures.
“This is upholding transparent accountability in the Nigerian Capital Market. It is also fostering greater market participation and boosting investors’ confidence.
“Here in the NGX, we are committed to building a resilient and future-ready capital market.”
The Chief Executive Officer of NGX Regulation Ltd., Mr Olufemi Shobanjo, emphasised the NGX’s commitment to promoting accountability and transparency at the capital market
Shobanjo noted that the presentation highlighted MTN’s social responsibility and environmental stewardship.
Reports sh0ws that MTN’s service revenue soared by 35 per cent in 2024 to N3.33 billion from N2.45 billion in 2023.
Its data revenue also rose from N1.07 billion in 2023 to N1.59 billion in 2024 with a 49.1 per cent growth.
The mobile subscribers increased by 1.6 per cent from 79.7 billion to 80.9 billion in 2024, while its data subscribers grew by seven per cent from 44.6 billion to 47.7 billion in 2024.
The company’s number of employers dropped by 0.4 per cent from 1,854 in 2023 to 1,847 in 2024.
