MTN made 65 billion naira profit last financial year!

That is a lot of money and it is even tax free for now, (not until 2006 before they start paying taxes). Yet these people have refused to give back to the people of Nigeria. To partake in their promotion, you need to buy a new started pack, nothing for their existing customers at all. They even made more profit than MTN south Africa. Shouldn't they give back to the people of Nigeria, they just keep taking, that is so not fair.

I know a lot of people that has contributed to this N65bn profit, they spend nothing less than N15,000 monthly on MTN recharge cards, that is so unreasonable and wasteful especially when it is for pleasure.

Could you please give us a link to where you got this information from? I mean, the N65bn profit claim.

[I]"MTN Nigeria Communi-cations Limited (MTN) has announced a pre-tax earning of 65 billion naira on revenue of 199 billion naira for the period April 1, 2004 to March 31, 2005.

"Over the same period, the mobile telecommunication company said its subscriber base also increased by 123 per cent while a capital investment of over 118 billion naira was completed."[/i]
http://thisdayonline.com/nview.php?id=19681 (username nairaland, password nairaland)

whizkid:

MTN made 65 billion naira profit last financial year!
I know a lot of people that has contributed to this N65bn profit, they spend nothing less than N15,000 monthly on MTN recharge cards, that is so unreasonable and wasteful especially when it is for pleasure.

it is a free world my dear, if someone chooses to spend N100k per month on frivolous phone calls, that is that person;s business. Saying that they dont contribute to the society is not correct either, what about the thousands of jobs created directly by MTN, indirectly by sales of fone cards?

whizkid: That is a lot of money and it is even tax free for now

"Although it continued to enjoy tax holiday in Nigeria, MTN Nigeria said in the period under review, it made payments in excess of 34.8 billion naira in the form of taxes, duties, license fees and similar statutory payments to government at different levels. It also paid 14.2 billion naira in import duties and 9.8 billion naira in VAT."
http://thisdayonline.com/nview.php?id=19681

So the 65 billion naira was not entirely free of government taxes and levies.

For MTN to have made this much and continue to give us poor services, l think their licence should be revoked. They have the right to make profit and they owe us good service. I wonder what NCC is doing about their continue poor service to customers? Given that they have the coverage but they also now have the worst service.

Other importing companies also pay the import duties and VAT and are as well taxed so tax holidays should be over for these GSM companies, imagine how much Nigeria has lost by granting tax exemption to the likes of MTN.

To contrl the economy of africa, you have to control the economy of nigeria. MTN of course will make more in nigeria than MTN south africa. We just need to support our own companies, like Glo. or buy out MTN nigeria

Why are we losing sight of the fact that MTN has brought about a lot of business opportunities that were not there before the advent of GSM. Ask the call centers how much money they are making and what they do with all that money they made. Again, MTN had become either directly or indirectly one of the largest employers of labour. Ask all those people who hawk recharge cards on the streets.

Yes, MTN is smiling to the bank, but would we prefer to go back to the era of NITEL monopoly and forestall such colosal profit? I will prefer to allow MTN make money and connect me to my old parents in my village than go back to the era of NITEL and wired lines that cost so much to buy and work for a few days because it had been tossed!

It is true that they have created a lot of job opportunities but they still need to give back to the community in form of scholarships for students, social amenities and things like that. It's like saying oil companies have created jobs. Yes, they did but what have they done for the community? 65 billion is a whole lot, they should not take all of it to South Africa like that!

jogego:

whizkid link=topic=480.msg5686#msg5686 date=1118828825:

MTN made 65 billion naira profit last financial year!
I know a lot of people that has contributed to this N65bn profit, they spend nothing less than N15,000 monthly on MTN recharge cards, that is so unreasonable and wasteful especially when it is for pleasure.

it is a free world my dear, if someone chooses to spend N100k per month on frivolous phone calls, that is that person;s business. Saying that they dont contribute to the society is not correct either, what about the thousands of jobs created directly by MTN, indirectly by sales of fone cards?

You call that contribution to the society? What percentage of Nigerians have benefited from this contribution? Globacom and Vmobile have also contributed by providing jobs but they both have also gone the extra mile to defray cost of calling in one form or the other. My point is MTN can do better, they should do better period.

We have to cool down. First and foremost, MTN is not a social service. They dont give a hoot about you. They don't respect you, as was noticed in the way they dealt with the highest ranking Nigerian there. You are just a 'cash cow', that's all.

MTN is a part of the economic arm of South Africa, and we either to the fact that all business areas in Nigeria are being taken up by the South Africans. For some related info, go to The African Report. Should be available at Airport and hotel book and news stands. We need to read, grow up, and act, or we might become extinct business wise, worldwide

One other thing: have you noticed the short-sighted greed of the Nigerian investor in Vmobile? They probably need money to save their bank, that's why they are making such concerted efforts to sell off their stakes in the telecom company. Shameful!!! The best busness is that which has the potential to last almost forever.

Read that magazine; it's great. Take care all.

IAN, I understand that MTN had set up a foundation to identify areas where they can give back to the communities. For instance they had indentified 5 states or there about with not less than 5 schools in each state where they can set up a complete Computer lab with several computers all networked and connected to the internet thru satellite!! They have even gone further to pay consultants in each state to manage the project after the the official handover..About 5 teachers from each school are being trained by a consultant from America on Oracle database, basic computer porgramming, internet usage etc. These teachers are suppose to pass on what they gleaned from their training to the students. what do u call all these if its not responsiblity

I think our problem is that we just cant forgive MTN for making so much money and we dont care how much money they helped us to make on the side. We are offended that a foreign company can take the risk to invest in our moribound economy and succeed. Companies like Vodacom who called Nigeria a "High Risk" investment are now waking up and falling all over themselves to come to invest here, thanx to the success story of MTN.

My G. Could you have been able to afford one always out of order Nitel line previously? These GSM companies have brought about the creation of millions of jobs, ranging from direct employment with the companies to other jobs created by companies dealing in GSM product. However if someone prefers wasting his or her hard earned money on making calls. That is his/her problem. That does not mean he is contributing a farthing to the companies. Do you contribute money to the tomato seller in Ketu or Mile 12 markets?

On profits: Every company is established with the notion of making profits. If a company does not make profits, it will fold.

Tax Free: The dream of the Federal Government is for millions of Nigerian to be able to afford telecommunications. That is gradually happening. So the Gov. understands better.
GSM companies pay Vat and their staffs also pay their taxes, which come in millions of Naira every month.
How many Nigerian own companies and their staff pay correct taxes.

If you don’t have any intention of making profits then don’t ever be encouraged to establish a company, be it a roadside call center or a big time company.

The tax holiday given to the companies, was as a result of prevailing circumstances in the country, we all know the state of our power systems this and oter reasons means that more money will be invested in bringing in extra equipment ( as compared to other countries) and alot will be spent on generating power, I don't think its a bad idea to give this tax holiday to a virgin business (which was what it was ) to encourage investment.
MTN made so much profit because they knew what it will take to make it here.

MTN is a FRAUD in Nigeria.

You should find a way of tapping into what they have provided and make your own part of the many billions instead of complaining. After all we have all the accountants and economists and business people in Nigeria before they came.
The best way to protest is to throw away your MTN line.

tellmemore i think you are not a user. You must understand that what is what doing must be done very well. Nigeria is the only where MTN calls are so high. We cannot say that because people are doing business and surviving thru that means therefore we ignore their mean activities, no. They should provide good service commensurable to the money people spend to use their network.

When NTA starts showing things you don't like, what you you do? You change channels.
Nigerian Govt knows calls are high yet they increase VAT by 5%. Besides we have institutions that are to look into this things, those are the people we are to attack. We need to understand how the world does business now adays, the ultimate goal is to make profit, no one gives a hoot about the user in actual sense. Until we learn how to read btw the lines when doing business the better service we get.

When NTA starts showing things you don't like, what you you do? You change channels.

Exactly! If you don't like MTN, use Glo or start your own GSM service for love, not money. Afterall it's a piece of cake!