The Federal Government has announced plans to subject MTN Group’s proposed $6.2 billion acquisition of IHS Holding Limited to a comprehensive regulatory review, citing the strategic importance of telecoms infrastructure to Nigeria’s economy and national security.
The acquisition, structured as an all-cash deal, would give MTN full ownership of IHS, one of Africa’s largest independent tower operators, and lead to the delisting of the company as a public entity. MTN already holds a significant minority stake in IHS, which operates tens of thousands of sites across Africa, including Nigeria.
Minister of Communications, Innovation, and Digital Economy Bosun Tijani said the deal will not be treated as a routine corporate transaction. “Given the strategic importance of telecommunications infrastructure to national security, economic growth, financial services, innovation, and social inclusion, the Ministry will undertake a thorough assessment in collaboration with relevant regulators,” he said.
Tijani highlighted that Nigeria’s telecoms sector has shown signs of recovery, with improved profitability and increased investment in infrastructure. “Our objective is to ensure that any market consolidation protects consumers, safeguards investments, and preserves long-term sector sustainability,” he added.
