MTN pays over N6.9tn in taxes

In a clear and powerful demonstration of its immense fiscal contribution to the nation, MTN Nigeria has announced that it has paid over ₦6.9 Trillion in taxes, levies, and duties contribution. This gargantuan figure solidifies the telecommunications giant’s position as one of the largest corporate taxpayers and fiscal partners to the Federal and State Governments, directly funding critical sectors of the economy.

This contribution is pivotal in maintaining national revenue streams, especially in a period marked by economic reform. The company’s role in nation-building extends beyond tax; it includes direct investments in public infrastructure, with the Enugu-Onitsha Expressway rehabilitation project under the RITC scheme progressing to 50% completion.

The company’s ability to consistently remit such a massive amount is underpinned by its profitability and scale. The recent financial results show service revenue grew by 57.5% to N3.7 trillion, culminating in a spectacular N750.2 billion Profit After Tax after reversing the prior year’s loss, proving its status as a consistently thriving and valuable corporate citizen.

The company’s commitment to Nigeria is also evident in its social investment. MTN has invested over ₦32.23 billion in national priorities through its Foundation. This integrated approach to value creation ensures that the company’s financial success translates into tangible benefits for the public, including support for youth empowerment and digital literacy.

MTN’s fiscal strength also allows it to deliver shareholder value. The Board’s approval of an interim dividend of N5.00 per share benefits its extensive shareholder base, which notably includes Nigerian Pension Funds representing over 10 million contributors.