FG to assess MTN’s acquisition of IHS Towers

From Adanna Nnamani, Abuja

The Federal Government has said it will undertake a comprehensive assessment of the acquisition of IHS Towers by MTN Group, citing the strategic importance of telecommunications infrastructure to national security, economic growth and Nigeria’s broader digital economy agenda.

In a statement issued on Tuesday, the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, said the ministry was closely monitoring developments in the telecommunications sector following the reported acquisition.

The ministry noted that over the past two years, under the leadership of President Bola Tinubu, the administration has implemented deliberate reforms aimed at stabilising and strengthening the telecoms sector as a critical pillar of the country’s digital economy.

According to the statement, policy clarity, regulatory support and sustained engagement with industry stakeholders have been central to government’s efforts to ensure long-term sustainability, boost investor confidence and improve overall sector performance.

The ministry also pointed to recent financial results released by major operators, which indicate improved profitability, increased investment in telecommunications infrastructure and greater operational stability across the industry.

“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,” the statement said.

Given the strategic importance of telecommunications infrastructure to national security, financial services, innovation and social inclusion, the government said it would collaborate with relevant regulatory authorities to review the implications of the acquisition on the sector.

The assessment, it said, will examine the potential impact of the transaction on market structure, competition, consumer protection and long-term sustainability of the telecommunications industry.

The ministry stressed that its objective is to ensure that any market consolidation or structural adjustments arising from the deal protect consumers, safeguard investments and preserve the stability of the sector.

It further reaffirmed its commitment to maintaining a stable, transparent and forward-looking policy environment in alignment with the administration’s Renewed Hope agenda and its vision of building a robust digital economy.

The Federal Government assured stakeholders that it would continue to engage industry players to ensure that strategic actions by private sector operators remain consistent with Nigeria’s market development objectives and national interest.