Bosun Tijani: FG to Review MTN’s $2.2bn IHS Towers Acquisition Deal

Bosun Tijani, minister of communications, innovation and digital economy, says the government is assessing MTN Group’s acquisition of IHS Towers to ensure the deal aligns with Nigeria’s telecommunications development goals.

Earlier today, MTN Group said it has agreed to acquire the remaining 75.3 percent stake in IHS Holding Limited in an all-cash deal valued at $2.2 billion.

Tijani, in a statement on Tuesday, said the administration of President Bola Tinubu has spent the past two years strengthening the telecom sector through policy clarity, regulatory support, and engagement with industry stakeholders, boosting investor confidence and sector performance.

“Recent financial results from key operators show improved profitability, increased investment in telecoms infrastructure, and operational stability across the sector,” he said.

“These gains reflect the resilience of the industry and the impact of government reforms.”

The minister added that telecommunications infrastructure is critical for national security, economic growth, financial services, innovation, and social inclusion.

“We will undertake a thorough assessment of this development with relevant regulatory authorities to review its impact on the sector,” Tijani said.

He added that the review aims to ensure market consolidation or structural changes, protect consumers, safeguard investments, and preserve the long-term sustainability of the telecom industry.

Tijani also said the government remains committed to maintaining a stable and forward-looking policy environment to keep Nigeria’s telecommunications sector strong and sustainable, in line with the administration’s broader digital economy vision.