The Federal Government has stated that MTN Group’s proposed $6.2 billion acquisition of IHS Holding Limited will undergo a thorough regulatory review, highlighting the strategic importance of telecom infrastructure to Nigeria’s economy and national security.
Minister of Communications, Innovation and Digital Economy, Bosun Tijani, made this disclosure in a press statement on Tuesday.
The all-cash transaction would give MTN Group full ownership of IHS Holding Limited, leading to the delisting of the tower company and its conversion into a wholly owned subsidiary.
MTN currently holds a minority stake in IHS, one of Africa’s largest independent tower operators, with tens of thousands of sites across key markets, including Nigeria.
In the statement, Tijani noted that the government is closely monitoring developments surrounding the deal.
“The Federal Ministry of Communications, Innovation & Digital Economy notes recent developments in the Nigerian telecommunications sector regarding the acquisition of IHS Towers by MTN Group,” the minister stated.
He emphasized that, in the last two years, President Bola Tinubu’s administration has carried out reforms to strengthen and reposition the telecoms sector as a vital component of Nigeria’s digital economy..
“Through policy clarity, regulatory support, and sustained engagement with industry stakeholders, government has prioritised long-term sustainability, investor confidence, and improved sector performance,” Tijani stated.
The minister stated that, because of the strategic importance of telecoms infrastructure, the proposed acquisition would receive careful scrutiny and would not be handled as a standard corporate transaction.
“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,” he stated.
Nigeria’s telecoms infrastructure supports banking systems, fintech platforms, e-commerce, public services, and emerging digital technologies. As a result, ownership of tower assets has implications that go far beyond mere commercial returns.
Tijani noted that the sector is showing signs of recovery, highlighting improved financial results among telecom operators.
“Recent financial results announced by key operators indicate a return to improved profitability, increased investment in telecoms infrastructure and operational stability across the sector,” he said.
“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.”
He emphasized that the government’s goal is to ensure that any consolidation safeguards consumers and promotes the long-term health of the telecoms 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,” Tijani added.
It was earlier reported that MTN Group had agreed to acquire IHS, one of the world’s largest independent owners and operators of shared telecom infrastructure, in an all-cash deal valued at around $6.2 billion.
The transaction comes after weeks of negotiations between the two companies, which were publicly reported earlier this month.
