Legend Internet, Spectranet merger is a strategic accelerator for our long-term vision  – Bada

Legend Internet Plc, a Nigerian broadband operator listed on the Nigerian Exchange Limited (NGX) is in advanced stages of a merger with Spectranet, one of Nigeria’s most established internet service providers. Ahead of the consummation of the merger in the second quarter (Q2) of 2026, Ladi Bada, chairman, Legend Internet Plc in this exclusive interview provides insight into the ongoing merger,  post-merger valuation,  and how it will among others impact broadband services in Nigeria, writes Iheanyi Nwachukwu. Excerpts  

What strategic gap will the merger between Legend Internet and Spectranet fill, and why is this the right time for both companies to combine forces? 

We are still undergoing regulatory approvals. But this merger will address a strategic gap in delivering complete connectivity and digital experiences to Nigerian consumers. The impact of technology has fundamentally changed customer behaviour: data and connectivity are essential at all times, and in some ways, access to reliable internet is increasingly viewed as a basic human right. Today’s consumers want broadband that is always-on, cost-effective, and unlimited, both at home and on the move.

Providing only one aspect of this either home or mobile connectivity does not meet modern market expectations. By merging Legend Internet and Spectranet, we can deliver a comprehensive solution that covers both home and mobile broadband, integrated with responsive service and digital platforms.

The timing is ideal. Demand for reliable, ubiquitous connectivity is surging, and the market is entering a phase of consolidation. Customers increasingly expect providers to anticipate their needs and deliver complete, seamless experiences. This merger positions us to respond to those expectations, strengthen our infrastructure, and accelerate growth, creating the leading platform in Nigeria’s broadband and digital services market.

What would be the estimated valuation of the merged company, and how do you expect the deal to enhance shareholder value for both organisations? 

Market capitalisation is estimated at N80 billion. The merger will enhance the company’s performance, boost profitability and strengthen its capacity to deliver value to shareholders. This will encourage more investors to participate in the ownership of the company.

Where do you see the biggest synergies from the merger, in the area of infrastructure sharing, customer base expansion, spectrum assets, or operational efficiency?

There are strong potentials to benefit from infrastructure sharing. We shall also see a lot of synergies from the economies of scale of the combined infrastructure. Customer base expansion will accelerate optimum sale of products and service offerings. Synergies between the mobile and the fixed services will be expanded.

Once the merger is completed, how will the combined company position itself against major broadband and telecom competitors in Nigeria’s rapidly growing digital infrastructure market?

The combined entity will be uniquely positioned as a next-generation broadband leader in Nigeria, competing not only on scale but on quality, innovation, and customer experience. By integrating fibre and wireless capabilities, we will deliver a converged connectivity model that few competitors currently offer at scale.

Beyond being the largest ISP by reach and capacity, our ambition is to lead the market in service reliability, speed consistency, and digital innovation. This positions us strongly against traditional telecom operators by focusing on high-performance broadband, customer-centric solutions, and agile service delivery tailored to the evolving digital economy.

Legend Internet has been investing heavily in fibre technologies such as Fibre-to-the-Room. How will Spectranet’s existing wireless infrastructure complement this fibre-driven strategy?

The combination of fibre and wireless infrastructure creates a powerful hybrid network model. While fibre, especially Fibre-to-the-Room—delivers ultra-fast, high-capacity connectivity for homes and businesses, Spectranet’s wireless network adds a critical layer of flexibility and mobility.

This means customers will no longer be confined to fixed locations; they can enjoy a seamless digital experience across multiple environments. Additionally, wireless infrastructure enables faster deployment into underserved or hard-to-reach areas where fibre rollout may take longer, thereby accelerating market expansion and improving inclusivity.

What tangible improvements can customers expect after the merger, particularly in terms of speed and service quality?

Customers can expect a step-change in overall service experience. This includes faster and more consistent internet speeds, broader geographic coverage, and improved network reliability due to combined infrastructure and capacity.

In addition, the merger will enable more competitive pricing driven by operational efficiencies and economies of scale. Customers will also gain access to a wider portfolio of digital services, enhanced customer support, and a more integrated service experience that ensures continuity across devices and locations.

Will the merged company continue under the Legend brand, adopt a hybrid identity, or introduce a new corporate name?

Branding is a critical strategic decision and is currently under careful consideration. The goal is to adopt a brand identity that reflects the scale, ambition, and innovation of the combined business while maintaining strong customer recognition and trust. For now, we prefer to keep that under wrap so it’s very much a “watch this space” moment.

What are the biggest risks or integration challenges you anticipate, and how will you mitigate them?

As with any merger, key challenges include aligning organisational cultures, integrating network infrastructure, harmonising  customer experiences, and ensuring operational continuity. However, both companies have already engaged extensively at the strategic and technical levels, which significantly reduces integration risk.

Our systems are largely compatible, and there is a strong cultural alignment around innovation, customer focus, and operational excellence. Dedicated integration teams and clear governance structures will ensure a phased and well-coordinated process, minimising disruption and maximizing synergies.

Legend Internet has already signalled plans to raise significant capital for expansion and acquisitions. Will the merger accelerate Legend Internet’s broader ambition to build a nationwide digital infrastructure and services platform?

Yes, the merger is a strategic accelerator for our long-term vision. It enables us to scale more rapidly by combining assets, expertise, and market presence, while also reducing execution risk compared to organic expansion alone.

With a stronger capital base and enhanced infrastructure, we are better positioned to invest in next-generation technologies, expand into new markets, and deliver a comprehensive suite of digital services. Ultimately, this brings us closer to our goal of building a nationwide, future-ready digital infrastructure platform that supports Nigeria’s economic and technological growth.

Looking five years ahead, what does success look like for the merged company – in terms of market share, technology leadership, and contribution to Nigeria’s digital economy?

Looking five years ahead, success for the merged company means establishing a dominant market presence in Nigeria, capturing significant market share across key segments, and setting the standard for customer engagement and industry influence. Beyond scale, it involves becoming a recognized technology leader, delivering innovative digital solutions, adopting emerging technologies, and shaping the future of the Nigerian digital landscape.

Equally important is the company’s role in advancing Nigeria’s digital economy. Success entails creating measurable impact through increased digital access, enabling new business opportunities, and driving economic growth across sectors. By 2028, a truly successful merged entity will not only excel commercially but also be viewed as a transformative force in the nation’s digital evolution.