The Federal Government of Nigeria has launched a formal assessment into the acquisition of IHS Towers by MTN Group, citing the need to protect consumer interests and maintain market stability.
In a statement released by the Ministry of Communications, Innovation and Digital Economy, the government confirmed it is collaborating with regulatory authorities to review the structural impact of the deal on the nation’s telecommunications landscape.
The Minister of Communications, Innovation and Digital Economy, Dr. ’Bosun Tijani, emphasised that while the administration remains committed to a pro-investment environment, the strategic importance of digital infrastructure necessitates strict oversight. He noted that the ministry would undertake a thorough assessment to ensure that private sector actions align with the "Renewed Hope" agenda of President Bola Ahmed Tinubu.
"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," Tijani stated. He further remarked that the telecommunications industry serves as a critical pillar of Nigeria’s digital economy, influencing national security, financial services, and social inclusion.
The acquisition comes at a pivotal time for the Nigerian telecom sector, which has recently seen a return to improved profitability and increased infrastructure investment.
MTN Group had previously moved to increase its control over its infrastructure through various lease renewals and shareholding adjustments.