MTN Nigeria Remits N6.9 Trillion in Taxes, Reinforcing Role as Key Economic Driver
MTN Nigeria has reaffirmed its position as a cornerstone of the nation’s economy, revealing that its cumulative tax, levies, and duties contributions have now exceeded N6.9 trillion. The announcement highlights the telecom giant’s vital role in supporting government revenues, especially during a period of heightened fiscal pressures and ongoing economic reforms.
The company’s tax payments span corporate taxes, spectrum fees, regulatory charges, and statutory levies, placing MTN among Nigeria’s top corporate taxpayers. Analysts note that the figure reflects not only MTN’s fiscal significance but also the structural importance of the telecom sector in driving national revenue mobilization, marking the company as a long-term fiscal partner to both federal and state governments.
MTN Nigeria’s robust tax contributions are backed by strong operational performance. The company reported a 57.5% rise in service revenue to N3.7 trillion, driven by growth across data, voice, and digital services. After reversing last year’s losses, MTN posted a Profit After Tax (PAT) of N750.2 billion, reaffirming its status as one of the country’s most profitable non-oil corporations.
The Board and Management attribute this financial turnaround to operational efficiencies, sustained telecom demand, and strategic cost management amid inflation and currency fluctuations. These earnings have enabled MTN not only to support substantial tax remittances but also to continue investing in national infrastructure, including network expansion and strategic public-private projects.
Among MTN’s ongoing infrastructure projects is the rehabilitation of the Enugu–Onitsha Expressway under the federal Road Infrastructure Tax Credit (RITC) scheme, now 50% complete. Shareholders, including Nigerian Pension Funds representing over 10 million contributors, are benefiting from the company’s strong performance, with an interim dividend of N5.00 per share, creating a multiplier effect on retirement savings nationwide.
source: The sun