Abuja, Nigeria – The Federal Government says it will conduct a comprehensive review of MTN Group’s proposed $6.2 billion acquisition of IHS Holding Limited, citing the strategic importance of telecommunications infrastructure to Nigeria’s economy and national security.
Okay News reports that Minister of Communications Bosun Tijani announced the review in a statement on Tuesday, following MTN’s earlier announcement to acquire the tower company in an all-cash transaction. The deal would see IHS delisted and become a wholly owned subsidiary of the mobile network operator. Tijani said the government is closely monitoring these developments.
Over the past two years, the administration has taken deliberate steps to stabilise and strengthen the telecommunications sector through policy clarity and regulatory support. The minister noted recent financial results indicate a return to improved profitability and increased investment in infrastructure. However, he stressed that the government will not treat this acquisition as routine, given the sensitivity of telecoms assets.
“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,” Tijani stated. The review will involve relevant regulators, including the Nigerian Communications Commission and competition authorities, as part of standard merger control processes.
MTN already holds a significant minority stake in IHS, one of Africa’s largest independent tower operators with tens of thousands of towers across key markets, including Nigeria. The proposed transaction would consolidate ownership of critical passive infrastructure under the continent’s largest mobile operator by subscribers. Industry analysts say the acquisition could alter competitive dynamics of infrastructure sharing and lease pricing, particularly for smaller operators relying on IHS towers for network expansion.
The minister made the government’s position clear: protecting consumers, safeguarding investments, and preserving long-term sector sustainability remain the objectives. Nigeria’s telecoms industry underpins banking, fintech, e-commerce, public services, and emerging technologies, making tower ownership a matter beyond commercial considerations.
What happens next depends on the outcome of the regulatory review. If approved, the deal would mark one of the largest telecom infrastructure transactions in Africa in recent years, signalling a shift in MTN’s strategy from asset-light tower outsourcing to direct infrastructure ownership.
