MTNN Commits To Sustainable Business Practices, Transparent ESG

MTN Nigeria Communications (MTNN) has restated its commitment to sustainable business practices and transparent Environmental, Social, and Governance (ESG) disclosures.

The company stated this at its ‘Facts Behind the Sustainability Report (FBSR) presentation’ held in Lagos.

MTNN’s 2024 Sustainability Report, marking its sixth consecutive year of transparent sustainability reporting. This report serves as a complementary disclosure to our 2024 Annual Report, offering our stakeholders a deeper understanding of our sustainability initiatives, impact, and progress towards our long-term goals.

Chief executive officer of MTNN, Dr. Karl Toriola stated that, “sustainability is at the core of our strategy, and our 2024 Sustainability Report demonstrates how we are strengthening our business resilience, mitigating risks, and unlocking opportunities for long-term value creation.

“From expanding our network footprint to achieve 93 per cent coverage to reducing our Scope 1 and 2 emissions by 11 per cent compared to the 2021 baseline, we are making tangible progress.

“We have increased female representation in our workforce to 41.4 per cent, empowered local businesses by directing 59.6 per cent of our spend to local suppliers in the year, contributed N764.2 billion in taxes and levies to support national development and invested N3.5 billion in Corporate Social Investment initiatives, positively impacting over 663,300 lives. These efforts reflect our unwavering dedication to long-term value creation and building a more connected, sustainable future.”

Presenting the report, the chief corporate services & sustainability officer (CCSSO), MTNN, Tobe Okigbo noted that, “at MTN Nigeria, our commitment to sustainability extends beyond business operations; we actively invest in initiatives that drive positive change in society.

“Through the MTN Foundation, we support impactful programmes nationwide, and see to it that they align with real community needs. By engaging stakeholders, collaborating with community leaders, and partnering with NGOs, we foster inclusive and sustainable development.”

The chairman of Social, Ethics and Sustainability Committee, MTN, Abubakar Mahmoud recognised Nigeria’s recent strides toward sustainability, particularly following the Climate Change Act and the establishment of the National Climate Council.

He highlighted MTN’s adoption of FRS standards S-1 and S-2 in 2023, emphasising the company’s commitment to integrating these standards into its operations and the development of a strong governance framework, led by the Social Ethics and Sustainability Committee.

He encouraged a collaborative spirit among corporate players in addressing climate-related challenges.

The CEO of Nigerian Exchange Limited, Jude Chiemeka commended MTN Nigeria for its leadership in sustainability reporting and stakeholder engagement, encouraging more listed companies to leverage the Facts Behind the Sustainability platform to showcase their ESG achievements through meaningful stakeholder dialogue.

The chief executive officer of NGX Regulation Limited, Olufemi Shobanjo said, “the fact that NTN is taking the initiative to present their sustainability report exemplifies their commitment to these principles and their leadership in the telecommunications industry.”

He noted that, the report highlight MTN’s efforts in environmental stewardship, social responsibility, and robust governance, saying this initiatives are essential for fostering trust among stakeholders and enhancing the long-term viability of business in Nigeria