The Nigerian Communications Commission has granted MTN Nigeria an Approval in Principle for its proposed acquisition of the Nigerian operations of IHS Towers, bringing the telecommunications giant closer to completing the major infrastructure transaction. The approval, however, is conditional and does not constitute final clearance for the deal. According to reports published on Wednesday, August 26, 2026, the transaction remains subject to the fulfilment of regulatory conditions imposed by the commission.
The proposed acquisition is part of MTN Group’s wider plan to take full ownership of IHS Towers, a transaction valued at about $6.2 billion globally. The Nigerian component is particularly significant because IHS operates a large portfolio of telecommunications infrastructure used by mobile network operators across the country. The acquisition could therefore give MTN greater control over critical infrastructure supporting telecommunications services while also reshaping competition within Nigeria’s tower industry.
The NCC’s conditional approval comes with safeguards intended to protect competition, existing commercial relationships and market access. Among the conditions is that MTN must not obtain exclusive rights over IHS infrastructure as a result of the transaction, while existing contracts must not be altered simply because of the acquisition. The commission is expected to issue final clearance after confirming that MTN has complied with the conditions attached to the Approval in Principle.
The development represents another major regulatory step toward the completion of the IHS transaction, which MTN has identified as a priority for the second half of 2026. The Federal Competition and Consumer Protection Commission has also granted conditional approval, requiring MTN to sell down up to 30 percent of the Nigerian component of the IHS business to investors at market prices over time. MTN has indicated that it is comfortable with the conditions and expects the acquisition to strengthen its revenue, earnings and cash flow prospects once completed.