The Federal Government stated that it would conduct a thorough assessment and review of MTN Group’s acquisition of IHS Towers to determine its impact on the national economy.

The government also stated that the review was necessary given the strategic importance of telecommunications infrastructure to national security, economic growth, financial services, and innovation.

Dr. Bosun Tijani, Minister of Communications, Innovations, and Digital Economy, announced the review in a statement, saying it would be carried out in collaboration with relevant regulatory authorities.

The statement read, “The Federal Ministry of Communications, Innovation & Digital Economy notes recent developments in the Nigerian telecommunications sector regarding the acquisition of IHS Towers by MTN Group.

“Over the past two years, under the leadership of His Excellency, President Bola Ahmed Tinubu, GCFR, this administration has taken deliberate steps to stabilise and strengthen the telecommunications sector as a critical pillar of Nigeria’s digital economy.

“Through policy clarity, regulatory support, and sustained engagement with industry stakeholders, the government has prioritised long-term sustainability, investor confidence, and improved sector performance.

“Recent financial results announced by key operators show a return to improved profitability, increased investment in telecom infrastructure, and operational stability across the industry. This progress reflects the industry’s resilience as well as the impact of reforms aimed at ensuring its viability and capacity to continue providing meaningful connectivity to Nigeria’s citizens.

“Given the strategic importance of telecommunications infrastructure to national security, economic growth, financial services, innovation, and social inclusion, and to ensure strategic actions by private sector operators are in line with the market development agenda under the President’s Renewed Hope policy directions, the Ministry will conduct a thorough assessment of this development in collaboration with the relevant regulatory authorities to review its impact.

“Our goal is straightforward: any market consolidation or structural changes must protect consumers, safeguard investments, and ensure the sector’s long-term viability.

“We remain committed to maintaining a stable, transparent, and forward-thinking policy environment that keeps Nigeria’s telecommunications industry on a strong and sustainable path, in line with our overarching vision of developing a robust digital economy.”