Legend Internet and Spectranet Merge to Boost Broadband

Legend Internet Plc and Spectranet Internet Services have announced an advanced stage merger aimed at transforming Nigeria's broadband market. The transaction is expected to be completed by Q2 2026, subject to approval from relevant regulatory bodies, including the Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Communications Commission (NCC).

Upon completion, the combined companies will have an estimated market capitalization of ₦80 billion, making them Nigeria's largest internet service provider. The merger is anticipated to generate substantial synergies, including optimized network infrastructure and operational efficiencies, which will enhance profitability and sustain growth.

Shareholders are expected to benefit from a larger scale and stronger market presence, increasing the ability to capture growth opportunities in Nigeria's rapidly evolving broadband market. The transaction will also strengthen Legend Internet's position ahead of potential future initiatives, including a public offer later in 2026.

Dr. Ladi Bada, Chairman of Legend Internet, emphasized the importance of a stronger capital base and improved infrastructure for investing in next-generation technology, while Aisha Abdulaziz, CEO of Legend Internet Plc, described the merger as a pivotal moment for Nigeria's broadband industry.