The federal government has revealed its plan to review MTN’s acquisition of IHS Towers to ensure the alignment of the deal with Nigeria’s telecommunications development goals.
The MTN Group disclosed on Tuesday that it has agreed to acquire the remaining 75.3 per cent stake in IHS Towers for $6.2 billion.
|
|
In a statement Tuesday, the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, stated that the government will review the MTN–IHS Towers deal in collaboration with the relevant regulatory authorities to assess its impact on the sector.
Mr Tijani noted that the government has taken deliberate steps to stabilise and strengthen the telecommunications sector as a critical pillar of Nigeria’s digital economy in the last two years.
|
|
|
|---|
The minister said the government has prioritised long-term sustainability, investor confidence, and improved sector performance through policy clarity, regulatory support, and sustained engagement with industry stakeholders.
“The Federal Ministry of Communications, Innovation and Digital Economy notes recent developments in the Nigerian telecommunications sector regarding the acquisition of IHS Towers by MTN Group.
“This administration has taken deliberate steps to stabilise and strengthen the telecommunications sector as a critical pillar of Nigeria’s digital economy.
Stay Ahead with Premium Times
Follow us on Google News and never miss breaking stories, investigations, and in-depth reporting.
Add as a preferred source on Google
“Through policy clarity, regulatory support, and sustained engagement with industry stakeholders, the government has prioritised long-term sustainability, investor confidence, and improved sector performance,” he said.
The communications minister explained that the deal between MTN Group and IHS Towers indicates a return to improved profitability, increased investment in telecoms infrastructure, and operational stability across the sector.
He added that the deal reflected the resilience of the industry and the impact of government reforms aimed at ensuring its viability and capacity to continue delivering meaningful connectivity to Nigerians.
READ ALSO: MTN strikes deal to acquire IHS Towers for $6.2 billion
Mr Tijani emphasised the importance of telecommunications infrastructure to national security, economic growth, financial services, innovation, and social inclusion, insisting that the Ministry will undertake a thorough assessment of the deal between MTN Group and IHS Towers.
“The Ministry will undertake a thorough assessment of this development in collaboration with the relevant regulatory authorities to review its impact on the 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.
“We remain committed to maintaining a stable, transparent, and forward-looking policy environment that keeps Nigeria’s telecommunications industry on a strong and sustainable path, in alignment with our broader vision of building a robust digital economy,” the minister said.
Discover more from Premium Times Nigeria
Subscribe to get the latest posts sent to your email.
More News
