Legend Internet Plc has announced plans to merge with Spectranet in a strategic deal that signals a growing wave of consolidation in Nigeria’s broadband sector. The proposed transaction, disclosed in a filing to the Nigerian Exchange, will see both firms combine operations under a unified structure, subject to regulatory approvals and expected to be finalised by the second quarter of 2026.
The merger brings together two long standing competitors targeting urban broadband users, at a time when rising infrastructure costs, limited spectrum, and increasing competition from telecom giants like MTN and Airtel are putting pressure on mid tier internet service providers. Industry watchers say the move reflects a broader shift as smaller players seek scale to remain competitive in an evolving market.
According to Legend, the deal is designed to boost network capacity and improve operational efficiency through the integration of fibre and wireless infrastructure. The combined entity is also expected to leverage Spectranet’s strong brand presence among home and small business users, alongside Legend’s public listing and infrastructure base, to expand coverage across key urban centres.
While financial details of the transaction were not disclosed, the merger comes at a critical time for Spectranet, which has seen a decline in its subscriber base amid rising competition from newer technologies and providers such as Starlink and fibre focused operators like FibreOne. For Legend, the acquisition offers a faster path to scale and market strength, as both companies position themselves to navigate a more competitive and capital intensive broadband landscape.