FG to Probe Proposed $6.2bn MTN Takeover of IHS

The Federal Government has indicated that the planned $6.2 billion acquisition of IHS Holding Limited by MTN Group will be subjected to a detailed regulatory review because of the sector’s importance to national security and economic stability.

Minister of Communications, Innovation and Digital Economy, Bosun Tijani, stated that authorities are monitoring the development closely and will work with regulators to assess its potential impact on competition, investment, and infrastructure ownership in the telecommunications space.

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The proposed transaction, structured as a cash purchase, would allow MTN to assume full control of the tower company and delist it, turning it into a wholly owned subsidiary. The telecom operator already holds a notable minority stake in the infrastructure provider, which operates thousands of network sites across multiple markets, including Nigeria.

Government officials stressed that telecom infrastructure underpins critical sectors such as banking, digital finance, commerce, and public service delivery, meaning any structural change in ownership must align with national development priorities.

The minister added that recent industry performance suggests a recovery in profitability and investment levels, attributing this to reforms introduced under the administration of Bola Tinubu. He emphasised that any consolidation must ultimately protect consumers, sustain investor confidence, and maintain the long-term health of the telecom ecosystem