FG to review MTN’s $2.2bn acquisition of IHS Towers — Bosun Tijani
The federal government will conduct a review of MTN Group’s proposed $2.2 billion acquisition of IHS Holding Limited to determine its implications for Nigeria’s telecommunications sector.
The Minister of Communications, Innovation and Digital Economy, Bosun Tijani, disclosed this in a statement on Tuesday, noting that the government would work with relevant regulatory agencies to assess the impact of the transaction on the industry.
Earlier in the day, MTN Group announced it had reached an agreement to purchase the remaining 75.3 per cent stake in IHS Holding Limited in an all-cash deal valued at $2.2 billion.
Tijani said the administration of President Bola Tinubu has, over the past two years, prioritised reforms aimed at strengthening the telecoms sector. According to him, these efforts have included improved policy direction, regulatory backing, and closer engagement with key stakeholders, which have collectively enhanced investor confidence and sectoral performance.
He pointed to recent financial results released by major operators as evidence of progress, citing increased profitability, expanded infrastructure investment, and greater operational stability within the industry.
Describing telecommunications infrastructure as vital to national security, economic expansion, financial inclusion, innovation, and social development, the minister emphasised the importance of ensuring that any major structural shift aligns with Nigeria’s long-term development objectives.
He added that the government’s review would focus on safeguarding consumer interests, protecting investments, and maintaining the sustainability and competitiveness of the telecom industry in the face of potential market consolidation.
