The Federal Government has stated that it will conduct a thorough evaluation of MTN Group's acquisition of IHS Towers, emphasizing the strategic importance of telecommunications infrastructure for economic growth, national security, and Nigeria's broader digital economy objectives. Following the reported acquisition, Dr. Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, stated in a press release on Tuesday that the ministry was closely monitoring developments in the telecommunications industry.
The ministry stated that the administration, led by President Bola Tinubu, has carried out intentional reforms over the last two years with the goal of stabilizing and bolstering the telecom industry as a vital pillar of the nation's digital economy.
The statement claims that the government's efforts to guarantee long-term sustainability, increase investor confidence, and enhance sector performance have been mostly focused on policy clarity, regulatory assistance, and consistent interaction with industry stakeholders.
The ministry also cited recent financial reports from major operators that show increased investment in telecommunications infrastructure, better profitability, and improved operational stability throughout the sector.
“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.
In light of the strategic significance of telecommunications infrastructure for financial services, innovation, social inclusion, and national security, the government announced that it would work with the appropriate regulatory bodies to examine the acquisition's effects on the industry.
According to the statement, the evaluation will look at how the deal would affect consumer protection, market structure, competition, and the long-term viability of the telecom sector.
The ministry emphasized that its goal is to protect customers, defend investments, and maintain the sector's stability through any market consolidation or structural changes brought about by the agreement. In keeping with the administration's Renewed Hope program and its goal of creating a strong digital economy, it further emphasized its dedication to upholding a stable, open, and forward-looking policy environment.
The Federal Government assured stakeholders that it would keep interacting with industry participants to make sure private sector operators' strategic moves remained in line with Nigeria's goals for market development and the interests of the country.
