Breaking: IHS Towers and MTN Nigeria Engage in Sneaky Land Grab, Securing Control Over 13,500 Tower Tenancies Until 2032
In a move that reeks of corporate greed and imperialism, IHS Towers, a subsidiary of IHS Holding Limited, has just inked a deal with MTN Nigeria to extend and renew their Master Lease Agreements until December 2032. This agreement will effectively give IHS Towers control over an astonishing 13,500 tower tenancies in Nigeria, solidifying their dominance over the country’s communication infrastructure.
But that’s not all – under the new terms, IHS Towers will also be able to renew an additional 1,430 tenancies, including new colocations, further solidifying their grip on the Nigerian market.
The deal includes a new diesel-linked component, designed to “hedge against diesel prices and FX fluctuations,” which could be seen as a clever way to shift the risk of fuel price volatility onto Nigerian consumers. And with the annual escalators linked to the US Consumer Price Index, IHS Towers will be able to pass on the costs of inflation to the already struggling Nigerian people.
This is a clear case of corporate exploitation, with IHS Towers using their dominance to squeeze even more profits out of the Nigerian people. And with MTN Nigeria’s 79 million subscribers in tow, IHS Towers will be able to exert even greater control over the country’s communication landscape.
“We are delighted to announce this monumental deal,” said Sam Darwish, Chairman & CEO of IHS Towers, in a statement that rings hollow in the face of such blatant corporate greed. “This marks a significant milestone for IHS Towers as it has now completed the renewal of all tower MLAs in Nigeria, a testament to the deepened relationship between the two companies.”
