Legend, Spectranet Merge to Transform Nigeria’s Broadband Market
Kayode Tokede
Legend Internet Plc, a Nigerian broadband operator has announced that it is in the advanced stages of a merger with Spectranet, an internet service provider. The transaction, it said in a statement, is expected to be completed in Q2 2026.
In a corporate disclosure statement signed by it’s Company Secretary, Erinma Onuoma, the proposed merger is subject to approval from relevant regulatory bodies, including the Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Communications Commission (NCC).
The combined company will have an estimated market capitalization of N80 billion, making it Nigeria’s largest Internet Service Provider. Upon completion, the merger will create a stronger national platform with the scale and infrastructure required to meet the country’s growing demand for high-speed connectivity.
“The merger is expected to generate substantial synergies, including optimized network infrastructure, operational efficiencies, and more strategic investment in technology. These synergies will enhance profitability and position the company for sustainable growth.
“Shareholders will benefit from the enlarged scale, stronger market presence, and increased ability to capture growth opportunities in Nigeria’s rapidly evolving broadband market. The transaction will strengthen Legend Internet’s positioning ahead of potential future initiatives, including a public offering later in 2026,” the statement reads in part.
Chairman, Legend Internet, Dr Ladi Bada, said: “With a stronger capital base and improved infrastructure, we are now well positioned to invest in next-generation technologies, expand into new markets, and deliver a full range of digital services. This moves us closer to our ambition of building a nationwide, future-ready digital infrastructure platform that will drive Nigeria’s economic and technological advancement.
Echoing his remarks, Aisha Abdulaziz, CEO of Legend Internet Plc, said: “This marks a pivotal moment for Nigeria’s broadband industry. Our merger with Spectranetpositions us to build a future-ready digital platform that delivers world-class connectivity to Nigerians while creating sustained value for our shareholders.”
