A major survival and expansion strategy is currently being unearthed within Nigeria’s Internet Service Providers (ISP) ecosystem as Legend Internet Plc planned to merge with Spectranet, Nigeria’s largest ISP by subscribers.

The deal, when completed, is expected to deepen competition within the ISPs space and deepen Nigeria’s broadband penetration, currently over 53 per cent.

The proposed transaction, disclosed in a regulatory filing to the Nigerian Exchange (NGX) yesterday,, will see both companies combine their businesses under a unified corporate structure.

The deal is pending approval from the Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Communications Commission (NCC), with completion targeted for Q2 2026. Legend Internet Plc is Nigeria’s first publicly listed ISP.

In the statement, signed by Legend Company Secretary, Erinma Onuoma, said “Pursuant to resolutions of the Board of Directors of the Company dated October 3, 2025 and the shareholders dated November 7, 2025, the Company has entered into an agreement with Spectranet in respect of a proposed merger under which the businesses and operations of both entities will be combined under a unified corporate structure.

The Transaction remains subject to the receipt of applicable regulatory approvals.”

Legend further said that the proposed merger aligned with its long-term strategy to expand broadband infrastructure and strengthen its position within Nigeria’s telecommunications sector.

According to it, the Transaction is expected to deliver significant strategic and financial benefits, including enhanced network capacity through the integration of fibre and wireless infrastructure, improved operational efficiency, and expanded coverage across key urban markets.

The firm said the Board believes the Transaction will create sustainable long-term value for shareholders by strengthening the Company’s competitive position, supporting revenue growth, and improving earnings capacity through operational synergies and increased scale. The Transaction is expected to be value accretive to shareholders over the medium to long term.

Industry analysts believe that the merger brings together two players that have long competed for the same urban broadband customers and signals that Nigeria’s ISP market may be entering a consolidation phase.

According to them, with infrastructure costs rising, spectrum constraints tightening, and competition intensifying from MTN and Airtel home broadband arms, mid-tier ISPs face growing pressure to scale or get squeezed.

Earlier this year, the NCC licensed six new ISPs to operate in Nigeria, effective January 1, 2026, deepening competition in a market already under pressure from mobile network operators.

The new licences come at a time when traditional ISPs are grappling with cheaper retail data offerings from MTN, Airtel, Globacom, and 9mobile, as well as disruption from Elon Musk’s Starlink.

NCC licensing data showed that the addition of six companies pushed the total number of licensed ISPs in Nigeria to 231 from 225 in December 2025.

The data also highlighted a strong geographic concentration of ISP operations in a few urban centres, underscoring persistent gaps in broadband distribution across the country.