MTN invests N31.9bn on social investment initiatives
MTN Nigeria Communications Plc yesterday disclosed that it invested N3.5bn in the Corporate Social Investment initiatives in 2024, bringing its total CSI spending since inception to N31.9bn. The company’s Chief Corporate Services and Sustainability Officer, Tobe Okigbo, disclosed this during the “Facts About the Sustainability Report” presentation at the Nigerian Exchange Limited in Lagos on […]
MTN Nigeria Communications Plc yesterday disclosed that it invested N3.5bn in the Corporate Social Investment initiatives in 2024, bringing its total CSI spending since inception to N31.9bn.
The company’s Chief Corporate Services and Sustainability Officer, Tobe Okigbo, disclosed this during the “Facts About the Sustainability Report” presentation at the Nigerian Exchange Limited in Lagos on Thursday.
Okigbo said the 2024 Sustainability Report highlights the company’s commitment to creating long-term value for stakeholders by embedding environmental, social, and governance practices across its operations.
According to him, MTN Nigeria’s interventions impacted over 663,300 individuals in 2024, supported 628 small businesses, and improved educational outcomes in 62 schools across the country.
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“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,” he stated.
The company said it also deployed 194 new solar-powered rural telephony sites and launched West Africa’s first eco-friendly SIM cards to cut down on plastic waste.
The General Manager, Risk Management at MTN Nigeria Communications Plc, Esosa Balogun, said the company paid N764.2bn in taxes, levies, and duties to the Nigerian government in the reporting year.
“We paid N764.2 billion in income taxes, duties and levies paid to the government, up 39.1 per cent,” Balogun said.
Balogun stated that MTN Nigeria’s commitment to sustainability extends beyond business operations and includes active engagement with local communities through different programmes.
“Through stakeholder forums, grievance mechanisms, and independent impact assessments, we maintain transparency, measure effectiveness, and ensure long-term sustainability,” he said.
In his remarks, the Chief Executive Officer of the Nigerian Exchange Limited, Jude Chiemeka, emphasized that sustainability has now evolved from a corporate responsibility add-on to a core business imperative.
He stressed that sustainability challenges continue to reshape global priorities, making Environmental, Social, and Governance factors essential to investment decisions.
“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,” the CEO stated.