Telecom
Senate Mulls Probe of Etisalat Nigeria Loans

The senate plans to vote on a motion to investigate the use of $1.2 billion in loans taken out by telecoms firm Etisalat Nigeria, now called 9mobile.
The motion if passed would mandate a Senate committee on banking and national security to handle the investigation, which it says would seek to forestall the impact of the debt crisis on foreign investment and hold defaulting parties liable.
According to the lawmakers, the investigation would seek to forestall the impact of the debt crisis on foreign investment and hold defaulting parties liable.
The resolutions of the senate followed a motion entitled ‘The need for senate’s intervention in recent Etisalat Nigeria $1.2 billion debt crisis’ sponsored by Adeola Olamilekan, senator representing Lagos west.
While moving the motion on the floor of the senate on Wednesday, Olamilekan noted that loan was acquired in 2013 as medium-term with a seven-year facility to fund expansion of the network from a consortium of 13 banks.
The senator said in 2016, the company started defaulting on its $1.2 billion loan obligations to which bailouts were given to it from its parent company in Abu Dhabi.
“Only about 42 percent of the loan has been repaid, remaining an outstanding debt of $696 million representing 58 percent of its capital, which Etisalat has failed to service since 2016,” he said.
“Since this year, the banks have been moving to take over the telecommunications company in order to recover their funds.
“The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have intervened and raised issues of regulatory compliances in trying to prevent a takeover by the banks, but the intervention has failed to produce an agreement on the debt restructuring
“All UAE shareholders of Etisalat Nigeria, including state-owned investment fund Mubadala had exited the company coupled with the resignation of top key management officers of the company the chief executive officer Mr. Matthew Willsher, chief financial officer Mr. Wole Obasunloye, director and the third Shareholder/Partner Mr. Hakeem Belo Osagie.”
The legislator said if the situation is not handled, it would have negative on foreign investments in the country.
“Although it should ordinarily not be the duty of the senate of the federal republic of Nigeria to wade into individual debt crisis of private sector businesses but the senate is convinced that if this situation is not properly handled, it will have negative implications for the Nigerian business environment and on foreign investments in Nigeria,” Olamilekan said.
While about 4000 jobs are at stake as a result of “these suspicious dealings,” the senator said the loan of this magnitude has the capacity of setting off another banking crisis in the country.
“The decision of the core investors to pull out of Nigeria raises issues of suspicion,” he said.
“Allegations that the loans have been diverted to other uses not related to the business for which the huge loan was obtained, as there was no evidence of what the company did with the loans.”
The upper legislative chamber adopted the motion when it was put to a voice vote by Senate President Bukola Saraki.
There are reports that some 16 firms have submitted their expressions of interest to take over the company including Africa’s largest telco MTN, Ntel and privately held BUA group.a Senate order paper seen by Reuters showed on Tuesday.
Telecom
New Investment Fund Targets Acceleration of Emerging Technology in Nigeria

The International Rescue Committee (IRC) has announced the formation of Airbel Ventures, a new humanitarian impact investing fund aimed at accelerating the introduction and scaling of breakthrough technologies in crisis-affected communities.

The fund will invest in companies whose ideas have the potential to change humanitarian response, including digital infrastructure for frontline health systems and climate-resilient agriculture.
The launch of Airbel Ventures follows a period of rapid innovation at the IRC, despite the humanitarian sector facing record funding cuts.
In the past year, the IRC’s Airbel Impact Lab has advanced more than twenty Artificial Intelligence (AI) and technology initiatives—from anticipatory action tools powered by climate and vulnerability data, to frontline service delivery using safe, orchestrated AI systems, to breakthrough diagnostic tools for emerging diseases.
Airbel Ventures’ first impact investment is in Signalytic, a company delivering solar-powered computing devices that ensure reliable electricity and connectivity for remote health facilities.
Following the investment, the IRC will pilot Signalytic’s technology with its Nigeria Health team, demonstrating the viability of next-generation digital infrastructure in humanitarian settings.
“We know breakthrough solutions already exist—what’s missing is the path to scale in humanitarian contexts,” said Dr. Jeannie Annan, Senior Vice President for Research & Innovation at the IRC and head of the Airbel Impact Lab.
Telecom
MTN Nigeria Suffers 9,218 Fibre Cuts in 2025 as Vandalism, Theft Cripple Network

MTN Nigeria, the country’s largest telecommunications operator, recorded a historic surge in network disruptions in 2025, suffering 9,218 fibre cuts as of December 31, alongside 211 base station sites affected by theft and vandalism, incidents that disrupted mobile and data services relied upon daily by millions of Nigerians.

The data was revealed by Dr Karl Toriola, chief executive officer/managing director, MTN Nigeria via a social media post titled ‘MTN Nigeria 2025 Wrapped’.
The scale of the damage highlights the growing vulnerability of Nigeria’s telecommunications infrastructure, which has come under increasing pressure from road construction activities, cable theft and deliberate acts of vandalism.
MTN said 5,478 fibre cuts occurred within just the first seven months of 2025, with 760 incidents recorded in July alone, underscoring the intensity of the challenge.
Some of the incidents had wide-ranging consequences, knocking out connectivity across multiple states simultaneously and affecting voice calls, data services, digital payments and enterprise operations.
The company described the situation as a national infrastructure problem, rather than an isolated corporate issue, given the economy’s deep dependence on mobile networks.
“These gaps were shaped by real operational challenges such as fibre cuts, theft, and vandalism. Their impact is felt directly by customers and reflected in what they tell us,” Toriola,
The disruptions were reflected in customer feedback volumes, as MTN handled an unprecedented number of complaints during the year. The operator said it resolved 1,624,263 customer complaints in 2025, spanning call centres, social media platforms, emails and physical service centres nationwide.
Despite the setbacks, MTN pointed to signs of operational resilience. The company retained its ranking as Nigeria’s best network by Ookla, returned to profitability after a challenging period, declared an interim dividend, and expanded its subscriber base to over 85 million users by September 2025.
The figures show that while Nigeria’s telecom operators continue to invest heavily in network expansion and customer service, infrastructure sabotage remains a major drag on service quality and operating costs.
MTN acknowledged that performance improvements remain a work in progress. “We are not where we want to be yet. We see you. We hear you. We exist because of you. And we will get better,” Toriola said.
As the company enters its 25th year of operations in Nigeria, Toriola said MTN is doubling down on customer-centricity, treating every piece of feedback as a guide for improvement, while also stepping up engagement with government agencies.
The CEO renewed calls for stronger regulatory and legal protections for telecommunications infrastructure, urging policymakers to classify fibre cables, base stations and other critical assets as national infrastructure and criminalise vandalism to deter repeat attacks.
Telecom
NCC Licences Six New ISPs to Challenge Telcos, Satellite Giants

Nigerian Communications Commission (NCC) has granted operating licences to six new Internet Service Providers (ISPs), effective January 1, 2026, raising the total number of authorised ISPs in the country to 231 from 225 recorded in December 2025.

NCC
The newly licensed firms are Intellvision Technologies Limited, Granet Technologies Limited, Fiber Sonic Limited, Dasol Solution Services Ltd, Boost ISP Limited, and Amazon Kuiper Nigeria Limited.
Five of these companies are headquartered in Lagos, while Granet Technologies Limited operates from Owerri in Imo State, highlighting the persistent concentration of broadband infrastructure in major commercial hubs like Lagos, Abuja, and Port Harcourt.
This development intensifies competition in Nigeria’s broadband market, which faces pressure from dominant mobile network operators such as MTN and Airtel, alongside rapid expansion by satellite providers like Starlink.
Traditional ISPs continue to grapple with shrinking customer bases, aggressive data pricing from telcos, and satellite disruptions, even as NCC data from Q2 2025 showed Spectranet, Starlink, and FibreOne controlling about 65 per cent of the 313,713 active ISP subscribers.
The inclusion of Amazon Kuiper Nigeria Limited marks a significant entry of global satellite broadband competition, building on Nigeria’s recent approvals for other low Earth orbit providers to enhance connectivity in underserved areas.
Industry analysts view the licences as a strategic push to improve internet quality amid rising demand for digital services, though geographic clustering underscores ongoing infrastructure challenges outside urban centres.
NCC’s move aligns with broader efforts to foster a competitive telecoms sector critical to Nigeria’s digital economy ambitions.
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