MTN Nigeria Releases 2023 Sustainability Report, Reiterates Commitment to Shared Value

MTN Nigeria, leading ICT Company, announced the release of its 2023 Sustainability Report. The report showcases MTN Nigeria’s unwavering dedication to sustainable development, emphasizing the company’s strategic initiatives, achievements, and commitment to creating shared value for all stakeholders through responsible and innovative business practices.

This report also marks a significant milestone as MTN Nigeria becomes a pioneer company in Nigeria to early adopt the International Financial Reporting Standards S1 and S2 issued by the International Sustainability Standards Board (ISSB).

The ISSB is an independent, nonprofit organisation established by the International Financial Reporting Standards (IFRS) Foundation to develop and maintain a comprehensive global framework for sustainability-related disclosures.

By providing a unified global approach to sustainability reporting, the ISSB’s standards offer investors and other stakeholders consistent, comparable, and decision-useful information on a company’s sustainability performance.

The report highlights MTN’s commitment to creating shared value for all stakeholders, aligning with its strategy to drive digital solutions for Africa’s progress. “We’re proud of the progress we’ve made so far – expanding connectivity to 79.7 million people, achieving 92.9% nationwide coverage, investing N2.6 billion in Corporate Social Investment programmes that have impacted over 58,000 live through the MTN Foundation, contributing N549.3 billion in taxes and levies to the government, and investing over N571.0 billion in capex, up 13.2% in 2023.

However, we recognise that this is only the beginning. We remain steadfast in our pursuit of excellence and committed to continuously improving our sustainability practices while striving for an even greater impact in the communities we serve. Our goal is to set the benchmark for responsible business practices in Nigeria, and we will continue to ensure our operations positively impact the environment, society, and governance,” said Karl Toriola, Chief Executive Officer, MTN Nigeria.

Also commenting on the report, Tobe Okigbo, Chief Corporate Services and Sustainability Officer, MTN Nigeria, explained the ICT’s company commitment to ESG. “We have embedded sustainability and ESG considerations at the core of our governance structure, recognising their critical role in driving long-term value creation for our stakeholders.

“Our commitment to sustainability is reflected in our actions, from establishing a dedicated Sustainability and Shared Value function to adopting the IFRS Sustainability Reporting Standards.

“We are pleased with our progress so far, including achieving a reputation index score of 84, up 3.0pp from 2022 and achieving a 10.3% reduction in Scope 1 and 2 emissions from the 2021 baseline as part of the Project Zero initiative, progressing towards net zero emissions by 2040”.

MTN Nigeria continues to push boundaries and set new standards, contributing to a better future for Nigeria and Africa as a whole.