Legend, Spectranet Merge To Create Largest Internet Service Provider

Legend Internet Plc has said that the Company and Spectranet are set to merge, creating Nigeria’s largest internet service provider with an estimated market capitalisation of N80 billion.

The combined entity will have a stronger capital base and improved infrastructure.

The transaction is expected to be completed in the second quarter (Q2) of 2026.

In a corporate disclosure statement signed by the Company secretary of Legend Internet, Erinma Onuoma said that the proposed merger is subject to approval from relevant regulatory bodies, including the Federal Competition and Consumer Protection Commission and the Nigerian Communications Commission (NCC).

The combined company will have an estimated market capitalisation of N80 billion, making it Nigeria’s largest Internet Service Provider. Upon completion, the merger will create a stronger national platform with the scale and infrastructure required to meet the country’s growing demand for high-speed connectivity.

The merger is expected to generate substantial synergies, including optimised network infrastructure, operational efficiencies, and more strategic investment in technology. These synergies will enhance profitability and position the company for sustainable growth.

Customers will benefit from expanded service offerings, including fixed broadband, mobile connectivity, and integrated digital solutions for both individuals and businesses. By combining resources and expertise, the merged entity will deliver improved service quality, broader coverage, and innovative solutions.

Shareholders will benefit from the enlarged scale, stronger market presence, and increased ability to capture growth opportunities in Nigeria’s rapidly evolving broadband market.

The transaction will strengthen Legend Internet’s positioning ahead of potential future initiatives, including a public offering later in 2026.

The chairman of Legend Internet, Dr Oladimeji Bada, stated that “with a stronger capital base and improved infrastructure, we are now well positioned to invest in next-generation technologies, expand into new markets, and deliver a full range of digital services.

“This moves us closer to our ambition of building a nationwide, future-ready digital infrastructure platform that will drive Nigeria’s economic and technological advancement.”

Also, the CEO of Legend Internet, Aisha Abdulaziz, said, “This marks a pivotal moment for Nigeria’s broadband industry. Our merger with Spectranet positions us to build a future-ready digital platform that delivers world-class connectivity to Nigerians while creating sustained value for our shareholders.”

Legend Internet Plc is a Nigerian broadband operator listed on the NGX in 2025. The company is focused on expanding high-speed internet access, building integrated digital infrastructure, and driving long-term growth for investors and stakeholders nationwide.

Spectranet is a leading Nigerian internet service provider with a track record of delivering reliable broadband solutions to residential and business customers. The company is recognised for its robust infrastructure, innovative offerings, and commitment to digital inclusion.