The Federal Government has confirmed it is reviewing the proposed acquisition of IHS Towers by MTN Group, citing the strategic importance of telecommunications infrastructure to Nigeria’s economy and long-term development.
In a statement issued on Tuesday, the Federal Ministry of Communications, Innovation and Digital Economy said the assessment will be carried out in collaboration with relevant regulatory agencies to evaluate the potential impact of the transaction on the telecoms sector.
The Ministry noted that under the administration of Bola Ahmed Tinubu, the government has, over the past two years, taken deliberate steps to stabilise and strengthen the telecommunications industry as a key pillar of Nigeria’s digital economy. These efforts, it said, have focused on clearer policies, regulatory support, and sustained engagement with industry stakeholders to improve sustainability and boost investor confidence.
According to the Ministry, recent financial results from major operators indicate a return to improved profitability, increased infrastructure investment, and greater operational stability across the sector. It added that these gains reflect both the resilience of the industry and the impact of ongoing reforms aimed at ensuring reliable connectivity for Nigerians.
Given the critical role of telecoms infrastructure in national security, economic growth, financial services, innovation, and social inclusion, the Ministry said it would closely examine whether the proposed transaction aligns with the government’s market development objectives under the Renewed Hope agenda.
The review, it said, will focus on ensuring that any market consolidation protects consumers, safeguards investments, and preserves the long-term sustainability of the sector.
The statement was signed by Bosun Tijani, who reaffirmed the government’s commitment to maintaining a stable, transparent, and forward-looking policy environment for Nigeria’s telecommunications industry.
The proposed deal would see MTN Group move to acquire full ownership of IHS Towers, one of Africa’s largest independent telecom tower operators, subject to regulatory approvals.
