FG to Scrutinize MTN's Acquisition of IHS Towers

The Nigerian Federal Government plans to conduct a comprehensive review of the MTN Group's acquisition of IHS towers. This was announced by the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani.

In a statement released on Wednesday, the Minister highlighted the critical role of the telecommunications sector in national security, emphasizing that strategic actions by private operators must align with the administration's market development agenda.

Dr. Tijani stated, "Given the strategic importance of telecommunications infrastructure to national security, economic growth, financial services, innovation, 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 further clarified the government's objectives: "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."

The government remains dedicated to fostering a stable, transparent, and forward-thinking policy environment to support the sustained growth of Nigeria's telecommunications industry and advance its digital economy aspirations.

The Ministry of Communications, Innovation and Digital Economy has taken note of the recent developments concerning MTN Group's acquisition of IHS towers within Nigeria's telecommunications landscape.

The Minister recalled that since President Bola Ahmed Tinubu took office, the administration has actively worked to stabilize and bolster the telecommunications sector, recognizing it as a cornerstone of Nigeria's digital economy.

Through clear policies, regulatory backing, and ongoing dialogue with industry stakeholders, the government has focused on promoting long-term viability, attracting investor confidence, and enhancing overall sector performance.

He pointed to recent financial reports from major telecommunications companies, which indicate a recovery in profitability, increased investment in infrastructure, and greater operational stability across the sector.

These positive outcomes, he noted, demonstrate the industry's resilience and the effectiveness of reforms designed to ensure its health and its continued capacity to provide essential connectivity services to Nigerians.