Telecom
IHS’ Impact on Nigeria’s Digital Transformation, Foreign Direct Investments Drive
By Blessed Omonose.
Proudly Nigerian Campaign, a private sector initiative promoted by media entrepreneur, Olorogun Elkanah Mowarin, in 2017, was one of the popular efforts to elicit pride in resourceful Nigerians and made-in-Nigeria products and services. The central theme of the campaign was to project Nigeria and Nigerians as a Brand by generating positive narratives about Nigeria and her people.
Today, IHS Nigeria is one notable corporate brand that wears the Proudly Nigerian emblem with gait and a commitment to promote Nigeria as a good brand, despite some challenges the country faces.
Last October, President Bola Tinubu played host to a team of senior management of IHS Nigeria in New York, United States on the sideline of the United Nations General Assembly. During the meeting, the Executive Vice President (EVP) and Chief Human Resources Officer, Ayotade Oyinlola, listed the company’s giant strides, including its consistent investments in state-of-the-art communication infrastructure and world-class services that have put Nigeria on a very strong footing in the global telecommunication market.
Oyinlola said at the time, that in an era where connectivity serves as the lifeblood of societies and economies, IHS Towers stands as a beacon of success, demonstrating how a company that was established in Nigeria, in a little over two decades (2001), has grown to become a reckonable multinational telecom infrastructure powerhouse, with footprints in 11 countries across three continents and impacting the lives of over 800 million people.
The team asserted that the company, despite having an expansive global footprint, including a remarkable global tower count of over 40,000 towers across Nigeria, Brazil, Cameroon, Colombia, Côte d’Ivoire, Egypt, Kuwait, Peru, Rwanda, South Africa and Zambia, proudly maintains its Nigerian identity.
In May 2024, IHS Nigeria again proudly carried the Nigerian green-white-green flag to the 2024 Corporate Council on Africa’s 16th U.S.-Africa Business Summit, held at the prestigious Kay Bailey Hutchison Convention, Dallas, Texas, USA. The telecoms infrastructure company, both as co-sponsor and participant at the strategic international summit leveraged the platform to market Nigeria’s limitless opportunities.
The summit – a pivotal moment in the convergence of global leaders, industry titans, and visionary entrepreneurs seeking to unlock Africa’s digital potential and foster sustainable economic growth, was attended by prominent leaders from the Corporate Council on Africa (CCA), including Florie Liser, President, and John Olajide, Chairman, representing CCA, as well as members of a strong leadership team from IHS Nigeria including IHS Nigeria’s Chief Operating Officer, Kazeem Oladepo, Dapo Otunla, Chief Corporate Services Officer, and Seye Dosunmu, Chief Financial Officer, respectively. Mohamad Darwish, Co-Founder & Executive Vice President of IHS Towers and CEO IHS Nigeria, serves as a notable Board member on the Planning and Programs Committee in CCA.
With the increasing influence and power of technology, a high-level dialogue titled, “Unlocking Africa’s Digital Potential – Addressing Challenges and Expanding Opportunities,” opened the discourse where IHS Nigeria showcased its pivotal role in charting a course for Africa’s digital transformation.
In highlighting the company’s commitment to bridging the digital divide and empowering communities across Africa, IHS Nigeria’s COO, Kazeem Oladepo, reeled out the company’s numerous interventions, including investments in school connectivity. He said IHS has unveiled ICT and digital infrastructures aimed at promoting Nigeria’s digital economy, which include the innovation hub at Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, in collaboration with the Oyo state government. It also implemented a three-year partnership with the Federal Ministry of Communications, Innovation, and Digital Economy in support of the government’s Three Million Technical Talent (3MTT) Initiative.
Through its partnership with the Limitless Space Institute, a non-profit education and research organisation based in Houston, Texas, IHS Nigeria is broadening access to space education for science, technology, engineering, and mathematics (STEM) educators in Nigeria. It also supports UNICEF Nigeria’s School-to-School Connectivity Project and has established notable partnerships with the END Fund, Save the Children, and USAID.
Through its subsidiary company, Global Independent Connect Limited (GICL), IHS has deployed over 13,000km of fiber optics across Nigeria’s 36 states and the Federal Capital Territory to deepen nationwide digital connectivity and broadband penetration. Today, over 3,000 towers have been connected on metro fiberacross Nigeria to further increase connectivity and support Nigeria’s growing digital ecosystem. In its resolute commitment to increasing connectivity, especially across rural communities, the company launched a rural telephony solution in 2020. The exclusively solar-powered solution connects the most remote communities in Nigeria to essential 2G and 3G services. To date, 586 rural telephony sites have been established across 25 states, serving over two million Nigerians living in rural and underserved areas.
The session was moderated by Michelle Chivunga, Founder & CEO of Global Policy House, the dialogue brought together luminaries such as H.E. Mogweetsi E.K. Masisi, President of Botswana, and Hon. Nthomeng Majara, Deputy Prime Minister of Lesotho, alongside Hon. Enoh T. Ebong, Director of the U.S. Trade and Development Agency (USTDA), and Dr. Thierry Wandji, President & CEO of Cybastion.
During the session on “Invest in Nigeria: Showcasing Investment Opportunities,’’ co-sponsored by IHS Nigeria and moderated by Ekenem Isichei, Program Director at the Corporate Council on Africa (CCA), the Ekiti State Governor, Biodun Oyebanji led the voices that showcased Nigeria’s burgeoning investment opportunities. He was supported by Aisha Rimi, Executive Secretary, Nigerian Investment Promotion Commission (NIPC), and industry stalwarts including John Olajide, Chairman of CCA and Founder/CEO, Axxess and Cavista Holdings. The Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, who led the Federal Government delegation, affirmed Nigeria’s commitment to strengthening bilateral relations and strategic partnerships aimed at stimulating foreign direct investments inflow to Nigeria.
Oladepo, who represented IHS Nigeria at the session, underscored the company’s pivotal role in lowering barriers to entry for mobile network and internet service providers, catalysing infrastructure development, and fostering innovation hubs across Nigeria. He further shared IHS Towers’ illustrious journey from its inception in Lagos, in 2001, to its becoming a global powerhouse with footprints in 11 markets across three continents. He also stated that the IHS was the first Nigerian-rooted company to be publicly traded on the New York Stock Exchange (NYSE), in 2021, showcasing the company’s role as a beacon of Nigerian achievement and a magnet for international investment.
At the closing plenary titled, “Partnering to Accelerate Africa’s Industrialisation,’’ IHS Nigeria reaffirmed its unwavering commitment to propelling sustainable industrial growth across the continent. Represented by Dapo Otunla, Chief Corporate Services Officer, IHS Nigeria, the company reiterated that it was dedicated to infrastructure investment, technology adoption, and collaborative partnerships as key drivers of Africa’s industrial revolution.
The plenary, moderated by Andrew Herscowitz, Executive Director of the Overseas Development Institute North America, convened a diverse array of leaders from government, finance, and industry to explore viable pathways for Africa’s green industrialisation. Also present in this discussion was Prof. Yemi Osinbajo, former Vice President of Nigeria and Guardian of Timbuktoo African Innovation Foundation, who highlighted the importance of innovation and technology in driving industrial growth.
Overall, IHS Nigeria’s good ambassadorial role at the summit underscored its belief in Nigeria, affirming its proactive role in shaping the future of African industrialisation, and aligning with its vision of fostering inclusive, sustainable development through technological innovation and strategic partnerships.
Blessed Omonose, a Developmental Journalist writes from Lagos.
Legend Internet Plc has reported a loss for the six months ended January 31, 2026, as rising operating costs and finance charges weighed on earnings, according to its latest management financial statements filed on the NGX platform.
The company posted revenue of N505.36 million for the period, down from N622.64 million recorded in the corresponding period of 2025, reflecting a contraction in topline performance.
Despite generating a gross profit of N322.99 million, Legend Internet’s profitability was eroded by elevated administrative expenses, which surged significantly to N457.62 million from N166.78 million in the prior year.
This drove the company to an operating loss of N134.63 million, compared to an operating profit of N244.55 million a year earlier.
Finance costs further pressured the bottom line, rising to N64.71 million, while interest income provided only a limited offset.
Consequently, the company recorded a loss after tax of N99.34 million, a sharp reversal from the N239.85 million profit posted in the same period of 2025.
Earnings per share also declined into negative territory, closing at a loss of 11 kobo compared with earnings of 12 kobo in the prior period.
A review of the company’s financial position showed total assets increased to N3.45 billion as of January 2026, up from N3.21 billion in July 2025, driven largely by growth in cash and cash equivalents and receivables.
However, shareholders’ funds weakened to N2.55 billion from N2.80 billion, reflecting the impact of the reported loss and dividend payments.
Cash flow analysis indicates that net cash used in operating activities stood at N237.48 million, highlighting liquidity pressure in the core business.
This was partially offset by financing inflows, including loans, which helped lift cash balances during the period.
Further breakdown showed personnel costs rose markedly to N153.50 million, underscoring increased staff-related expenses, while depreciation and amortisation charges remained significant due to ongoing investments in network infrastructure.
The results underlined the pressure on smaller telecom and internet service providers navigating high operating costs, currency volatility, and infrastructure demands within Nigeria’s competitive digital services market.
Airtel Africa has emerged as the standout large-cap performer on the Nigerian Exchange (NGX), recording a 10 per cent gain in a single trading week and reinforcing its position as one of Africa’s most resilient and valuable telecommunications companies.
The telecoms giant closed the week at ₦3,655.70 per share, up from ₦3,323.40, making it one of the strongest contributors to market performance during a period characterised by selective investor activity and sector rotation.
The strong performance reflects growing investor confidence in Airtel Africa’s business fundamentals, diversified revenue streams, and long-term growth strategy. Analysts note that the company continues to attract attention from investors seeking stable, high-quality stocks capable of delivering sustainable value despite ongoing macroeconomic uncertainties.
Unlike many of the week’s gainers, whose performance was largely driven by speculative trading and short-term market positioning, Airtel Africa’s rise was underpinned by confidence in its operational strength and strategic importance within the telecommunications sector.
Market watchers have identified Airtel Africa as a preferred investment destination due to its strong earnings profile, extensive regional footprint, and exposure to foreign currency-linked revenue streams. These factors have helped position the company as a key stabiliser within the NGX, particularly at a time when investors are increasingly selective in deploying capital.
The company’s performance also highlights the growing importance of telecommunications firms in driving economic growth and digital transformation across Africa. Through continued investments in network expansion, digital services, enterprise solutions, and financial inclusion initiatives, Airtel Africa remains at the forefront of enabling connectivity and economic opportunity for millions of people across the continent.
Beyond its stock market performance, Airtel Africa continues to strengthen its position through investments in digital infrastructure, mobile financial services, and technology-driven solutions that support businesses, governments, and communities. These initiatives have become increasingly important as demand for connectivity and digital services continues to accelerate across Africa.
Airtel Africa’s latest performance underscores confidence in the company’s long-term prospects and its ability to create sustainable value for shareholders. The milestone also reflects the market’s recognition of Airtel Africa’s role in shaping Africa’s digital future through innovation, connectivity, and inclusive growth.
With telecommunications remaining a critical enabler of economic development, Airtel Africa’s strong showing on the NGX serves as another indicator of the company’s continued momentum and leadership within the sector.
AVEVA, a global leader in industrial software, will host the first edition of AVEVA Day Nigeria, on 11 June 2026 at the EKO Hotel, Victoria Island, Lagos.
AVEVA
Built around the theme, “Driving the Transformation: Leveraging Digital Technologies and AI to Achieve Operational Excellence, Increase Efficiency and Reduce Emissions,” the one-day event will bring together industry leaders to discuss how AI, Digital Twin, and cloud-native industrial platforms are transforming the design, construction, and operation of assets.
The event will host AVEVA leadership, technical experts, customers, ecosystem partners, EPCs, and decision-makers from across Nigeria’s energy and process industries.
Nigeria’s industrial sector is entering a new phase with operators under pressure to improve operational reliability, cut emissions, and unlock gas monetisation opportunities cost-effectively. Digital technologies have emerged as a key enabler of this balancing act.
The International Energy Agency’s Africa Energy Outlook highlights the growing role of AI and digital tools in balancing Africa’s energy ambitions with its sustainability goals. At the same time, initiatives such as the African Union’s Digital Transformation Strategy for Africa (2020–2030) and Nigeria’s National Digital Economy Policy and Strategy are helping create the foundation for wider adoption.
Khaled Salah, Vice President – Africa, AVEVA, said: “Nigeria’s industrial economy is one of the most dynamic industrial markets in the EMEA region. As industries navigate growing demands around efficiency, sustainability, and resilience, technologies such as digital twin, industrial AI, and connected ecosystems are becoming central to transformation strategies. Through AVEVA Day Nigeria, we want to bring our global expertise closer to local industry leaders and demonstrate how the convergence of AI and industrial software can help local enterprises compete, and lead, on the world stage.”
Hanno Van Niekerk, Market Leader – Sub Saharan Africa, AVEVA said: “Nigeria has the scale, resources, and industrial ambition to become one of the leading energy and industrial hubs in the region. With continued investments in power infrastructure, and industrial development, the country is well positioned to drive long-term economic growth and strengthen energy access across Africa. At AVEVA, we are proud to support this journey by helping organisations leverage digital innovation to enhance operational performance, accelerate transformation, and advance sustainability goals.”
The event will begin with a welcome note from Khaled Salah, followed by a keynote from Gaurav Panpaliya, Enterprise Architect, AVEVA, on how AI-enabled Digital Twins are guiding industries towards autonomous, sustainable operations, supported by examples from global energy companies.
It will also feature interactive round table discussions hosted by Gururaj Purohit, structured around three focus tracks – Design & Build track, that will engage EPCs, capital project teams, and engineering companies, the Operate & Optimise track covering enterprise visualisation, process optimisation, asset reliability, AI/ML-based predictive analytics, and Predictive Asset Optimisation (PAO) and the IT/OT and Data Management track, focusing on the CONNECT industrial intelligence platform and how it underpins next-generation industrial operations.
Attendees will get a chance to explore the full scope of AVEVA’s industrial intelligence capabilities through a series of focused technical and industry sessions along with dedicated customer and partner presentation slots throughout the day.
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