The Federal Ministry of Communications, Innovation & Digital Economy has released a statement regarding the recent changes in the Nigerian telecommunications industry, specifically the acquisition of IHS Towers by MTN Group.
The Ministry noted that in the past two years, with the leadership of President Bola Ahmed Tinubu has made careful efforts to make the telecommunications sector more stable and stronger, as it is a key part of Nigeria’s digital economy.
It said the government has focused on long-term sustainability, boosting investor confidence, and enhancing sector performance by providing clear policies, supporting regulations, and staying actively involved with industry stakeholders.
A statement signed by Dr.
Bosun Tijani, the Minister of Communications, Innovation & Digital Economy said that recent financial results from major companies show that profits are getting better again and there is more money being spent on improving telecom networks, and the whole industry is becoming more stable and reliable.
“This progress shows how strong the industry is and how the changes made have helped it stay going and keep providing useful internet access to Nigerians,” the statement added.
“Because telecommunications infrastructure is very important for national security, economic growth, financial services, innovation, and social inclusion, the Ministry will carefully study this development along with the right regulatory agencies.
“This is to make sure that actions by private companies support the market goals set by the President’s Renewed Hope policy.
“The goal is to review how this development affects the sector. Our goal is simple: to make sure that any changes or mergers in the market keep consumers safe, protect the money people have invested, and help the industry stay strong for the future.
“We are dedicated to keeping a stable, clear, and positive policy environment for Nigeria’s telecommunications sector, ensuring it grows strongly and lasts long-term, which supports our bigger goal of creating a solid digital economy.”
