MTN Nigeria has reaffirmed its position as one of the nation’s most critical economic anchors, announcing that its cumulative tax, levies, and duties contributions have surpassed N6.9 trillion.
The disclosure underscores the telecom giant’s outsized role in supporting government revenues at a time when fiscal pressure remains elevated amid ongoing economic reforms.
The company’s tax contribution, spanning corporate taxes, spectrum fees, regulatory charges, and statutory levies, places MTN among Nigeria’s foremost corporate taxpayers.
Analysts say the figure demonstrates the structural importance of the telecom sector to national revenue mobilization and highlights MTN’s role as a long-term fiscal partner to both federal and state governments.
This financial muscle is backed by robust operational performance. MTN Nigeria’s latest results show service revenue rising by 57.5 per cent to N3.7 trillion, buoyed by strong growth across data, voice, and digital services.
After reversing a loss position recorded in the prior year, the company posted a Profit After Tax (PAT) of N750.2 billion, signaling a sharp turnaround and reinforcing its position as one of Nigeria’s most profitable non-oil corporations.
The Board and Management attributes the earnings rebound to improved operational efficiencies, sustained demand for telecom services, and strategic cost discipline amid inflationary pressures and currency volatility.
According to a statement by the company, its ability to consistently generate strong earnings has not only supported its tax remittances but also enabled continued capital investments across network expansion and national infrastructure.
Among its ongoing infrastructure commitments is the rehabilitation of the Enugu–Onitsha Expressway under the federal government’s Road Infrastructure Tax Credit (RITC) scheme.
MTN confirms the project has reached 50 per cent completion, an indicator of the company’s growing participation in public-private infrastructure development.
The initiative aligns with a broader trend of corporates leveraging tax credit schemes to accelerate national infrastructure delivery.
Shareholders are also benefiting from the company’s financial momentum. Following the strong half-year performance, MTN’s board approved an interim dividend of N5.00 per share.
Significantly, Nigerian Pension Funds, representing more than 10 million contributors, are among its largest shareholder blocs, meaning improved returns have a direct multiplier effect on retirement savings across the country.
(TheSun)
