Two of Nigeria’s foremost internet providers, Legend Internet Plc and Spectranet Limited, have proposed a merger that would further solidify their grip on the sector.
Both companies have agreed in respect of a proposed merger under which the businesses and operations of both entities will be combined under a unified corporate structure.
The transaction, however, remains subject to the receipt of applicable regulatory approvals from regulatory agencies including the Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Communications Commission (NCC).
Strategic Significance
The proposed merger aligns with Legend’s long-term strategy to expand broadband infrastructure and strengthen its position within Nigeria’s telecommunications sector.
The Transaction is expected to deliver significant strategic and financial benefits, including enhanced network capacity through the integration of fibre and wireless infrastructure, improved operational efficiency, and expanded coverage across key urban markets.
There is a belief that the transaction will create sustainable long-term value for shareholders by strengthening the new entity’s competitive position, supporting revenue growth, and improving earnings capacity through operational synergies and increased scale. The completion of the merger is anticipated in Q2 2026.
