MTN changes lease contract with IHS, awards new contract to ATC Nigeria

MTN Nigeria Communications Plc has notified the Nigeria Exchange and the investing public that the lease of approximately 2.5k network sites, for which IHS Nigeria Limited currently provides tower services, is due to expire in 2024 and 2025.

In a statement signed by the Company Secretary, Uto Ukpanah, MTN Nigeria stated thus:

In line with MTN Nigeria’s procurement policy, which seeks to ensure transparent and competitive bidding process, the Company called for tender for these tower contracts.

Following a review of the bids received for tower services for the affected sites, ATC Nigeria Wireless Infrastructure Solutions Limited was selected has the preferred tower company for those sites based on its superior bid submission. Additionally, this will further diversify our site portfolio and align with our proactive initiative to renegotiate tower agreement, focusing on ensuring terms that will help cushion the business form the volatility in our trading environment.

ATC will take over provision of tower services for the affected sites from 2025.

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