The Federal Ministry of Communications, Innovation and Digital Economy has said it is reviewing recent developments in the telecommunications sector following the acquisition of IHS Towers by MTN Group.
In a statement signed by the Minister, Dr. Bosun Tijani, the ministry noted that the move comes at a time when the Federal Government has been implementing reforms aimed at stabilising and strengthening the telecoms sector.
According to the statement, the administration of President Bola Ahmed Tinubu has, over the past two years, introduced measures designed to improve policy clarity, provide regulatory support and sustain engagement with industry stakeholders. The ministry said these efforts were focused on boosting investor confidence, ensuring long-term sustainability and improving overall sector performance.
The statement added that recent financial results released by major operators show a return to improved profitability, increased investment in infrastructure and greater operational stability across the industry. It described the development as a reflection of both the resilience of the sector and the impact of ongoing reforms.
Given the strategic role of telecommunications infrastructure in national security, economic growth, financial services and digital innovation, the ministry said it would carry out a thorough assessment of the acquisition in collaboration with relevant regulatory authorities.
The review, it explained, is intended to determine the potential impact of the transaction on market competition, consumer protection, investment security and the long-term sustainability of 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,” the statement read.
The ministry reaffirmed its commitment to maintaining a stable and transparent policy environment that supports the continued growth of Nigeria’s telecommunications industry and aligns with the broader vision of building a strong digital economy.
Dr. Tijani assured stakeholders that the government would continue to monitor developments in the sector to ensure they are consistent with national economic and digital priorities.