$6.2bn Deal: Federal Govt Assessing MTN’s Acquisition Of IHS Towers

The federal government through the Ministry of Communications, Innovation & Digital Economy has said it will assess the acquisition of IHS Towers by MTN Group in a $ 6.2 billion deal in order to ascertain its impacts on the Telecommunications sector especially on the consumers.
This was disclosed in a statement by the Minister Bosun Tijani on Tuesday, stressing that the administration of President Bola Tinubu has taken deliberate steps to stabilise and strengthen the telecommunications sector as a critical pillar of Nigeria’s digital economy.
The Minister noted that through policy clarity, regulatory support, and sustained engagement with industry stakeholders, government has prioritised long-term sustainability, investor confidence, and improved sector performance.
He said “recent financial results announced by key operators indicate a return to improved profitability, increased investment in telecoms infrastructure and operational stability across the sector. This progress reflects the resilience of the industry and the impact of reforms aimed at ensuring its viability and capacity to continue delivering meaningful connectivity to Nigerians.
“Given the strategic importance of telecommunications infrastructure to national security, economic growth, financial services, innovation, and social inclusion, and to ensure strategic actions by private sector operators are in line with the market development agenda under the
Renewed Hope policy directions of the President, the Ministry will undertake a thorough assessment of this development in collaboration with the relevant regulatory authorities to review its impact on the sector.
“Our objective is clear: to ensure that any market consolidation or structural changes protect
consumers, safeguard investments, and preserve the long-term sustainability of the sector, the Minister said.
He reaffirmed the commitment of the Ministry to maintaining a stable, transparent, and forward-looking policy environment that keeps Nigeria’s telecommunications industry on a strong and sustainable path, in alignment with our broader vision of building a robust digital economy.