MTN Nigeria Communication Plc paid the sum of N543.9 billion in taxes and levies to the Nigerian government in 2023.
This was revealed in the company’s recently released 2023 sustainability report.
The report highlights its Environmental, Social, and Governance (ESG) practices.
MTN said within the same period, the company posted N2.46 trillion as revenue for the full year and recorded a loss after tax of N137 billion, driven by net forex losses.
It also increased its investment in capital expenditure by 13.2 per cent to N571 billion in 2023, and expanded its network coverage to cover 92.9 per cent of the country’s landscape and connectivity to 79.7 million people.
In a filing with the Nigeria Exchange Ltd (NGX), MTN’s CEO, Karl Toriola, said the company’s Sustainability Report, highlights the company’s commitment to creating shared value for all its stakeholders.
He said the firm also invested N2.6 billion in corporate social investment programmes that have impacted over 58,000 lives through the MTN Foundation, contributing N549.3 billion in taxes and levies to the government and investing N571.0 billion in capex, up 13.2% in 2023.
Toriola noted that MTN’s sustainability strategy revolves around four principles of eco-responsibility, sustainable societies, sound governance, and economic value-added.
According to him, MTN’s 4G coverage grew by 2.4 percentage point from 79.1% in 2022 to 81.5% in 2023, while 5G coverage grew by 8.1 percentage points from 3.2% in 2022 to 11.3% in 2023. With this, Toriola said the company has increased its percentage of the market share to 52.1% in 2023 from 50.8% in 2022.
“Our efforts on financial inclusion in Nigeria have also been successful. Through our fintech business, we serve over 14.5 million customers in all the local governments across the country,” he added.
