Read More: https://punchng.com/ogun-family-seeks-justice-over-alleged-police-killing-of-breadwinner/
“On the question of subsidy, my position has not changed and will not change: I will restore it!”
The post 2027: I will bring back petrol subsidy, Atiku insists appeared first on Premium Times Nigeria.
The APC and President Tinubu know that the Atiku solution to subsidise production as a way of lowering the pump price and bringing down the cost of living is a bold idea and they know it resonates with the people. This is why they have been quite busy of late. They have dismissed the idea […]
The post Atiku’s fuel subsidy and Tinubu’s church rat, By Bolaji Abdullahi appeared first on Premium Times Nigeria.
In this interview, the NCF Director General discussed NCF’s Green Recovery Nigeria initiative and Nigeria’s prospects of accessing the $1.3 billion financing announced at COP17 in Ulaanbaatar, Mongolia.
The post INTERVIEW: Nigeria must invest more in environment to tackle land degradation, farmer-herder conflicts — Expert appeared first on Premium Times Nigeria.
The court ordered Mr Gadzama to file the substantive application challenging the LPDC’s decision within seven days of its order.
The post Gadzama obtains court’s leave to challenge three-year suspension by LPDC appeared first on Premium Times Nigeria.
Afrilition offers a critical and creative discipline for the incredible future that is unfolding. Building this and other systemic frameworks makes the foundation of tomorrow robust and adaptive, not in competition but in offering an authentic alternative for humanity. Afrilition as a path of evolution outlines key areas, chapter by chapter. It starts by setting […]
The post Afrilition: Engineering an operating system for the future, By Adéwálé Àjàdí appeared first on Premium Times Nigeria.
MTN Group’s proposed $2.2 billion acquisition of IHS Towers has received regulatory approval in Nigeria, clearing a major hurdle for the telecoms giant’s plan to take control of the tower infrastructure company.
MTN disclosed the development in its half-year 2026 results, saying the transaction had received approvals from relevant Nigerian regulators, including the Nigerian Communications Commission (NCC) and the Federal Competition and Consumer Protection Commission (FCCPC).
However, the approval comes with a major condition aimed at increasing Nigerian participation in the ownership of the critical telecoms infrastructure.
Under the condition, MTN will be required to sell a 30 per cent stake in IHS Nigeria to Nigerian investors at a fair market price and on an arm’s-length commercial basis.
The requirement is significant because IHS provides tower infrastructure used by several telecommunications operators, including MTN and its competitors.
The acquisition had therefore raised questions about competition in Nigeria’s telecoms industry, particularly the implications of one of the country’s biggest operators gaining greater control over infrastructure that other operators rely on.
The 30 per cent local ownership requirement is expected to address some of those concerns by ensuring that Nigerian investors retain a significant stake in the infrastructure business.
MTN announced in February 2026 that it had agreed to acquire the approximately 75 per cent of IHS Holdings it did not already own. The transaction is focused on IHS’ African operations and is part of MTN’s strategy to strengthen its digital infrastructure business.
MTN said the acquisition would give it greater control over critical infrastructure, generate operational efficiencies and support its Ambition 2030 strategy, which is built around connectivity, fintech and digital infrastructure.
The company has previously described the IHS transaction as a strategic move to regain greater ownership of infrastructure while maintaining an open-access model for other customers.
MTN has maintained a long-standing relationship with IHS. Its interest in the tower company dates back several years, and the group has previously identified IHS as an important infrastructure investment.
The latest transaction will effectively move MTN from being a significant shareholder in IHS to taking control of the business, subject to the completion of the remaining conditions.
The Nigerian regulatory requirement also comes against the background of MTN’s wider localisation strategy across its African operations, with the group having previously pursued measures to increase local ownership in markets such as Ghana and Uganda.
For Nigeria’s telecoms industry, the completion of the deal will be closely watched because IHS remains a major provider of tower infrastructure. MTN Nigeria also has existing infrastructure-sharing and lease arrangements with IHS, which were renegotiated in 2024 and extended to December 2032.
The acquisition is expected to further strengthen MTN’s position in digital infrastructure as demand for connectivity, data centres and other technology infrastructure continues to grow across Africa.
The 30 per cent sell-down, however, means MTN’s control of IHS Nigeria will not translate into complete ownership, leaving room for Nigerian investors to participate in the business.
The transaction is therefore expected to remain a significant development for both Nigeria’s telecommunications sector and its capital market as MTN moves towards completing the acquisition.
The post MTN’s $2.2bn IHS deal gets regulatory nod, 30% stake reserved for Nigerians appeared first on The Sun Nigeria.
Nigeria and Ghana are increasingly becoming major sources of cash for MTN Group, contributing R9.3 billion to the South African telecommunications giant in the first half of 2026.
The two West African markets accounted for about 67 per cent of the R13.9 billion in cash transferred by MTN’s operating companies to the group during the six months ended June 2026.
According to the group’s financial results released on August 24, Ghana contributed R6.6 billion, while Nigeria accounted for R2.7 billion during the period.
The combined contribution from the two countries was significantly higher than the R2.1 billion generated by MTN’s South African operation, highlighting the growing importance of its West African businesses to the group’s financial performance.
The development came as MTN Group reported stronger earnings and cash generation in the first half of the year, with improved performance across several of its markets helping to offset slower growth in South Africa.
MTN’s service revenue rose 17.5 per cent in constant-currency terms to R115 billion, while earnings before interest, tax, depreciation and amortisation (EBITDA), excluding one-off items, increased 24.4 per cent to R56 billion.
The stronger earnings lifted the group’s EBITDA margin to a record level of about 47 per cent.
Commenting on the performance, MTN Group President and Chief Executive Officer, Ralph Mupita, said the company had successfully converted commercial momentum across its markets into stronger earnings, cash flow and returns.
“The Group’s overall performance in the period reflects strong conversion of the commercial momentum we see across our markets into growth in earnings, cashflow and returns,” Mupita said.
Nigeria’s contribution was supported by higher demand for mobile data and digital services, as consumers and businesses increasingly depend on connectivity.
The Nigerian operation has also benefited from the tariff adjustment approved by the Nigerian Communications Commission (NCC), which has helped improve the financial outlook for telecommunications operators.
For MTN Group, Nigeria remains strategically important because of its large customer base and growth potential in data consumption and digital services.
The company ended June with 317.7 million subscribers across its markets, including more than 179 million active data users.
While Ghana generated more than twice Nigeria’s upstream cash during the period, the Nigerian market remains one of MTN Group’s key businesses and a major source of growth.
The strong performance in West Africa contrasts with MTN South Africa, where service revenue grew by only 1.5 per cent in the first half, although growth accelerated to 2.3 per cent in the second quarter.
MTN said its South African business was prioritising customer quality and profitability rather than subscriber numbers at the expense of returns.
The group said the strategy was aimed at improving the underlying economics of the business, even though it could weigh on short-term subscriber growth.
Mupita said MTN delivered a strong consolidated first-half performance in 2026, with subscriber growth accelerating in the second quarter.
“We combined double-digit service revenue growth with record EBITDA margins, robust free cash flow generation and a resilient balance sheet,” he said.
The results indicate an increasingly important role for MTN’s West African operations in funding the group’s investments and strengthening returns to shareholders.
The post Nigeria, Ghana drive MTN Group cash flow with R9.3bn appeared first on The Sun Nigeria.