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Legend Internet Merger Sparks Bold Broadband Growth
Legend Internet Spectranet merger advances as Nigerian ISP plans N80bn deal to become largest broadband provider by Q2 2026
Legend Internet Plc, a Nigerian broadband operator, has announced advanced plans to merge with internet service provider Spectranet in a major industry consolidation expected to be completed in the second quarter of 2026.
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The proposed transaction, which is subject to regulatory approval from the Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Communications Commission (NCC), is set to reshape the country’s broadband landscape.
The Legend Internet Spectranet merger will create a combined entity with an estimated market capitalisation of ₦80 billion, positioning it as Nigeria’s largest internet service provider upon completion.
In a corporate disclosure signed by Company Secretary Erinma Onuoma, the company said the deal would unlock significant operational synergies, including improved network efficiency, stronger infrastructure deployment and increased investment in technology.
The statement added that the consolidation is expected to enhance profitability and provide shareholders with greater exposure to Nigeria’s rapidly expanding digital economy.
“The merger is expected to generate substantial synergies, including optimised network infrastructure, operational efficiencies, and more strategic investment in technology,” the company said.
It further noted that the enlarged scale of operations would strengthen its market position and support potential future capital market activity, including a possible public offering in 2026.
Chairman of Legend Internet, Dr Ladi Bada, described the development as a strategic step towards building a nationwide digital infrastructure platform capable of supporting Nigeria’s growing connectivity needs.
He said the combined company would be better positioned to invest in next-generation technologies, expand into new markets and drive long-term economic growth.
“This moves us closer to our ambition of building a nationwide, future-ready digital infrastructure platform,” Dr Bada said.
Chief Executive Officer, Aisha Abdulaziz, also described the merger as a defining moment for Nigeria’s broadband sector, adding that the deal would enhance service delivery and create sustained shareholder value.
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The transaction highlights increasing consolidation within Nigeria’s telecommunications and internet services sector as operators seek scale, efficiency and improved competitiveness in a fast-evolving digital market.
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The Nigerian Air Force has confirmed that all 25 people aboard its ATR-42 aircraft, NAF 931, died after the aircraft crashed in the Igbokoda area of Ondo State.
The aircraft, which had five crew members and 20 passengers on board, was on a routine mission from Benin to Lagos when the NAF 931 aircraft crash occurred on Monday, October 5, 2026. Search-and-rescue operations were immediately activated following the accident.
The Chief of the Air Staff, Air Marshal Sunday Kelvin Aneke, described the incident as a deeply painful moment for the Nigerian Air Force and the country, while extending condolences to the families, colleagues and loved ones of those who died.
Aneke assured the bereaved families of the Nigerian Air Force’s full support as they come to terms with the loss.
The Air Force said no survivors had been found and released the names of the five crew members and 20 passengers on board the aircraft.
The crew members were identified as Squadron Leader M.I. Aburime, Flight Captain; Squadron Leader A.P. Man-Ugwueje, Co-pilot; Flight Lieutenant I.S. Bako, Co-pilot; Warrant Officer A. Abubakar, Aircraft Technician; and Corporal H.C. Uguru, Aircraft Technician.
The 20 passengers were Flight Lieutenant T.L. Lazarus; Flight Lieutenant M. Akinloye; Flying Officer I.M. Adeshina; Master Warrant Officer F. Onwuka; Master Warrant Officer B.A. Matini; Warrant Officer F.S. Nuhu; Flight Sergeant R.B. James; Flight Sergeant A.I. Mohammed; Sergeant A.E. Ani; Sergeant S.I. Izibenikien; Sergeant C. Alafuka; Sergeant A.N. Mbadugha; Lance Corporal F.C. Ugwuba; Lance Corporal G.E. Eledan; Mrs Ezeh Nneka; Godstmine Tarabina; Joy Micheal; Sunday Micheal; Ukeme David; and Gideon Omotola.
The latest figure released by the Air Force differs from the initial information provided after the crash. Aviation Minister Festus Keyamo had initially said 32 people, comprising 25 passengers and seven crew members, were aboard the aircraft. The Nigerian Air Force subsequently clarified that the manifest contained 25 people, made up of five crew members and 20 passengers.
The aircraft crashed in a swampy area around Igbokoda, close to a naval base, after air traffic controllers lost contact with it at about 9:13am while it was travelling from Benin to Lagos. The wreckage was later located and rescue teams were deployed to the area.
The cause of the crash has not been established. The Chief of the Air Staff has directed a comprehensive investigation to determine the circumstances surrounding the accident.
President Bola Tinubu had also directed the Nigerian Air Force to conduct a thorough investigation into the crash and declared three days of national mourning for the personnel who died. He ordered that national flags be flown at half-mast throughout the country in honour of the victims.
The Air Force said it would continue to provide timely and verified information as the investigation progresses. It also urged members of the public to avoid speculation and the circulation of unverified information, while respecting the privacy and dignity of the affected families.
A condolence register has been opened at the Headquarters of the Nigerian Air Force in Abuja for senior government officials, members of the diplomatic corps, heads of security agencies and other well-wishers who wish to pay their respects and convey messages of sympathy to the families of the deceased and the Nigerian Air Force.
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