Legend Internet, Spectranet Merge in Nigeria
Analysis based on 7 articles · First reported Mar 23, 2026 · Last updated Mar 24, 2026
The merger of Legend Internet PLC and Spectranet Limited is expected to create Nigeria's largest internet service provider, leading to increased competition and improved broadband infrastructure. This consolidation could enhance profitability for the combined entity and potentially attract more investment into Nigeria's telecommunications sector.
Legend Internet PLC and Spectranet Limited have announced plans to merge, creating Nigeria's largest internet service provider with an estimated market capitalization of N80 billion. The transaction, which has received board and shareholder approvals from both companies, is expected to be completed in the second quarter of 2026, pending regulatory clearances from the Nigeria — Federal Competition and Consumer Protection Commission and the Nigeria — Nigerian Communications Commission. The combined entity aims to leverage optimized network infrastructure, operational efficiencies, and strategic technology investments to enhance profitability and sustainable growth. Customers in Nigeria are expected to benefit from expanded service offerings, broader coverage, and improved service quality, while shareholders of Legend Internet PLC will see an enlarged scale and stronger market presence, positioning the company for potential future initiatives, including a public offering later in 2026. Executives Oladimeji Bashorun and Aisha Abdulaziz of Legend Internet PLC highlighted the merger's role in driving Nigeria's economic and technological advancement.
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