According to court filings, severance obligations owed to Amida under a Mutual Separation Agreement reached after his exit from the company in November 2024 remain unsettled nearly 18 months later.

Despite the fact that the matter commenced before the National Industrial Court since June 2025, Pan African Towers has reportedly not filed a substantive defence to indicate its refusal to fulfil the obligations in dispute.

Instead, the company has pursued a preliminary objection on ground that Hamida did not comply with mandatory provision for mediation and alternatively pursue his remedy through arbitration rather than litigation.

The matter came before Honourable Justice Essien of the National Industrial Court, Lagos Division, on Tuesday, where counsel for Pan African Towers, Mr. Mofesomo Tayo-Oyetibo with Chukwudi Nwudike and Amira Omodu urged the Court to decline jurisdiction pursuant to Clause 13A and or refere the matter to arbitration vide 13B of the Mutual Separation Agreement.

Counsel representing Amida from Pinheiro LP, Bolu Agbaje Akadri, leading Emeka Ekweozor and Ukamaka Ali opposed the application, arguing that multiple attempts had previously been made to resolve the matter, including formal demands for performance under the agreement, before the suit was filed.

During proceedings, the Court reportedly queried the absence of a substantive defence alongside the preliminary objection, describing the approach as procedurally improper before electing to hear the application.

It is Amida’s position that attempt was made in line with the Mutual Separation Agreement to have the matter resolved amicably with no success whilst reliance on arbitration which is optional under the agreement at this stage appears inconsistent with prior conduct, noting that no meaningful steps had allegedly been taken to initiate arbitration proceedings before the matter was brought before the Court.

“The substance of the dispute remains unanswered,” Amida’s states. “The concern is whether procedural manoeuvres are being deployed to postpone accountability rather than resolve the issues in contention.”

The Court has now adjourned the matter to 6 July 2026 for ruling on the preliminary objection.

The dispute is attracting increasing attention within legal, business, and corporate governance circles due to its potential implications for executive separation agreements, contractual enforcement, and dispute resolution mechanisms within Nigeria’s corporate environment.

Observers note that the eventual outcome could influence how arbitration clauses, executive transition obligations, and post transaction disputes are approached in future corporate matters.

The matter remains before the Court.

In a reflective LinkedIn post that has sparked conversations around executive wellbeing and career transitions, Amida spoke candidly about rebuilding his life after exiting the telecom infrastructure company amid ongoing discussions and legal processes involving investment firms Development Partners International and Verod Capital.

The former CEO said that while disputes over his unpaid severance continue, the bigger challenge has been adjusting to life outside corporate leadership.

According to him, leaving a top executive role is often more than a career change, describing it as an experience that can trigger an identity crisis when personal worth becomes closely tied to professional titles.

Amida noted that organizations often move on quickly after leadership exits, while affected individuals are left to quietly rebuild their finances, routines, and sense of purpose.

His comments come at a time when Pan African Towers has remained in the spotlight following corporate restructuring and shareholder disputes linked to the company’s acquisition process.

Techeconomy had earlier reported on a shareholder rights battle surrounding the acquisition of the telecom tower company, with Development Partners International and Verod Capital named in a legal suit over the transaction.

The company also recently announced the appointment of Jyoti Desai and Vivek Gupta as non-executive directors as part of efforts to strengthen governance and leadership oversight.

Beyond the corporate issues, Amida’s reflection focused heavily on resilience and mental wellbeing during difficult transitions.

Sharing lessons from the past 16 months, he advised professionals facing similar situations to prioritize emotional recovery before reacting impulsively, maintain transparency with family members about financial realities, and avoid making desperate decisions during vulnerable periods.

He also emphasized the importance of maintaining healthy routines, resetting lifestyle expectations, and separating personal survival from ongoing legal or corporate disputes.

One of the strongest themes from his reflection was society’s tendency to attach value and relevance to positions rather than individual character.

According to him, many people experience a sudden shift in perception once they no longer hold influential titles, a reality he described as both humbling and revealing.

Despite the unresolved severance dispute, Amida’s message remained largely hopeful.

He encouraged professionals experiencing setbacks to remember that their value does not disappear with a job title, stressing that the same ability that once created success can be rebuilt and applied again.

His reflections have since resonated with many professionals online, opening wider conversations around unemployment, executive mental health, resilience, and the pressures associated with leadership exits in corporate Africa.

The dispute centers on an alleged breach of a pre-agreed equity arrangement tied to a management buy-out (MBO) transaction.

The matter, listed as Suit No. FHC/L/MISC/608/2025, was recently heard before Justice Aluko, of the Federal High Court, who directed all parties to maintain the order and respect all pending application before the court, including an injunction to prevent any potential sale or DPI and Verod stake in Pan African Towers.

Court Proceedings and Pending Applications

Prof. ‘Kemi Pinheiro, OFR, SAN, LLD., FCIArb,  Bolu Agbaje Akadri and Emeka Ekweozor instituted the suit on behalf of Mr Amida, who is the Plaintiff. At the most recent sitting, the plaintiff was represented by counsel Emeka Ekweozor and Ukamaka Ali.

The defendants, Development Partners International (DPI), Verod Capital Management Limited, Verod Capital Growth Fund III LP, African Development Partners III LP, and PAT Holding Limited, were absent and unrepresented.

Counsel to the plaintiff informed the court that the plaintiff had filed a motion for interlocutory injunction on 19 July 2025, while the defendants had filed a preliminary objection on 8 August 2025. The plaintiff has since responded with a counter-affidavit and sought a consolidated hearing for both applications.

Raising additional concerns, counsel to the plaintiff alleged that the defendants were planning to sell or transfer equity in PAT Holding Limited, the entity through which the acquisition was completed. He argued that such a move could undermine the plaintiff’s claim and requested the court to order a status quo and preserve the current shareholding structure until the matter is determined by the honourable court.

Justice Aluko acknowledged the court’s inherent power to grant such relief but declined to issue the order at this stage, citing the pending injunction motion. Nevertheless, the court instructed all parties to respect the pending processes before it and maintain the order.

Background: Equity Commitment in Management Buy-Out

According to court filings, the core of the dispute concerns an alleged failure to allocate a previously agreed equity stake to the plaintiff following the successful management-led acquisition of PAT.

Amida, who was appointed CEO in 2022, was tasked with turning around the company’s performance. At the time, PAT was experiencing significant financial strain, with ₦38 billion in debt and ₦7 billion in overdue payables.

By the end of his first year, Amida had overseen a marked recovery: revenue rose from ₦10 billion to ₦15 billion, EBITDA increased from ₦4 billion to ₦6.5 billion, and the company reduced its liabilities and renewed key long-term contracts with major telcos.

As former shareholders of PAT considered exiting via a sale to an international buyer, the plaintiff proposed and led a local management buy-out initiative to retain the company’s Nigerian identity. Following preliminary discussions with other funds, the plaintiff introduced DPI and Verod Capital as potential backers.

The three parties then pursued and successfully closed a full acquisition of PAT through an investment vehicle.

The transaction was structured as a management buy-out, and the term sheet documenting this agreement was filed with the court as part of the ongoing proceedings.

The plaintiff contends that the investors’ participation was contingent on this agreement and that the transaction terms were not discretionary or informal.

Amida’s legal team argues that the defendants benefited significantly from the value created under his leadership and should be held to the agreement which formed the basis of their entry into the deal.

Allegations of Non-Compliance

Post-closing, Amida alleges that multiple meetings were held with representatives of DPI and Verod to finalize the share allocation, but the agreed equity was never transferred to him. In November 2024, he was exited from his role as CEO, and subsequent demands for his equity entitlement were declined by the investors.

However, as of the time of his exit, PAT revenue and EBITDA has more than quadrupled compared to when Amida took over the company.

Amida is now seeking the court’s intervention on the allocation of his 5% equity stake or its equivalent along with relevant damages.

The case is listed to resume on 15 January 2026, where the court is expected to consider the consolidated applications and possibly begin substantive hearings.

The most recent NCC statistics revealed that Nigeria had 219 million active mobile subscribers as of mid-2024, with teledensity hitting 101.4%.

It’s no surprise that mobile data usage is rising meteorically, led by 4G and 5G rollouts. But then, even with these statistics, the leadership of CEOs is what will truly determine whether companies thrive or stumble.

As Africa’s telecom market is projected to reach $66.61 billion by 2025, these CEOs face a common threat: tariff review.

The need to review telecoms tariffs has been trending for quite a long time but became more pronounced since President Bola Tinubu moved to Aso Rock in May 2023. 

The reasons are obvious. As Nigeria moves to deepen its digital economy, the need for telecom operators to upgrade their network infrastructure to deliver more data capacity, cannot be over-emphasized. This is key to a sustainable future. 

For close to 12 years, telecom tariffs have remained static despite the dramatic increase in operating expenses, which have surged by over 300% in the last 18 to 24 months alone. 

We suspect that NCC’s hands might be tied in the sense that President Tinubu’s government might not want an ‘immediate upward review of telecom tariffs due to the backlashes from the famous fuel subsidy removal and the electricity tariff increase – including the ‘Band A-D’ discriminatory service provisioning arrangement. 2025 is also crucial for Nigeria’s economy in terms of development and growth. 2026 is a political year preceding the election year – 2027.

But truth be told, Nigeria’s economy will even sink further if telcos pull the plug. 

The President must summon the courage to surmount the pressure to suffocate the telecommunications industry.

It has become essential to realign telecom service pricing structure with economic realities!

Nigeria has ushered in the high-speed 5G era for AI, Cloud computing, Data science applications, and Blockchain era. Nevertheless, more investments are required towards building a more resilient network such that the operators can meet the regulator’s KPIs.

All of these require significant investments which are sourced from the international markets at costs denominated in US Dollars.

In the past three to four years, for instance, the dollar has gone from exchanging for about N500 to over N1,600.

The challenges continue: The Nigerian Communications Commission (NCC) has just authorised the telcos to disconnect nine banks from their USSD platform. Why? These banks have been accused of not paying for services rendered to them by the telcos to the tune of over N200 billion naira.

For the tower companies; a very crucial segment of the market, they are daily faced with issues around fibre cuts, vandalism, inflation and others.

All eyes are on these CEOs. How will the operators continue providing high-quality services and meeting the growing demand for digital connectivity, should the government play down the issue of upward reviews of the tariffs? Tough question, right?

So, Techeconomy presents top 10 telecom CEOs to watch in 2025:

1. Karl Toriola – MTN Nigeria

Under Dr. Karl Toriola’s leadership, MTN has been at the fore of big projects, including the construction of the largest data centre in West Africa and the rollout of 5G services. These initiatives are set to boost the company’s work further in 2025.

The move of MTN into a technology company (Techco) highlights Toriola’s vision for the future, where digital infrastructure and financial inclusion are central to the nation’s economic development. 

His leadership has also led to a focus on affordability, addressing the challenges faced by Nigerians in accessing digital services due to the high cost of connectivity. 

Added to these, Toriola’s recognition as a Fellow of the Nigerian Academy of Engineering in March 2024 speaks volumes about his standing in the industry. This accolade, alongside the launch of a $50 million education initiative aimed at bolstering Nigeria’s STEM education, further shows his focus on societal advancement. 

Karl Toriola, the CEO of MTN Nigeria, was recognized last year when Obafemi Awolowo University (OAU) awarded him an honorary doctorate during the university’s 48th Convocation Ceremony. 

This honor, conferred on Toriola alongside other distinguished individuals, reiterated his huge impact on Nigeria’s telecommunications and technological sector. 

Toriola’s efforts to create a more inclusive digital economy, combined with his long-standing career in telecoms, have placed him among the top telecom CEOs to watch in 2025.

2. Dinesh Balsingh – Airtel Nigeria

Dinesh Balsingh was appointed CEO of Airtel Nigeria, has already made a huge impact in his short tenure since taking the reins in November 2024. Having previously served as the CEO of Airtel Tanzania, Balsingh brought a wealth of experience and strategic insight to Airtel Nigeria. 

His leadership has already garnered recognition, with the company winning two awards at the Lagos Public Relations Industry Gala and Awards (LaPRIGA) for its environmental initiatives and internal communication excellence. These early successes tell us about Balsingh’s goal of corporate social responsibility and building a strong internal culture within Airtel Nigeria.

Balsingh’s vision for Airtel Nigeria focuses on expanding digital inclusivity and ensuring sustainable growth. He has emphasized the importance of delivering quality services while overcoming the challenges of high costs of operations. His leadership is seen in his approach to tariff adjustments, where he has advocated for necessary price increases to maintain the long-term sustainability of the telecom sector. 

Even with a prospective impact on consumers, Balsingh has promised that these adjustments will be implemented gradually, ensuring that the burden on customers remains manageable while the company continues to invest in infrastructure and service quality.

With a career spanning over two decades, Balsingh’s experience in telecoms and his knowledge of the Nigerian market placed him as a strong leader for Airtel Nigeria in 2025. His past roles, including Chief Commercial Officer and Marketing Director at Airtel Nigeria, provide him with the operational expertise needed to scale through the complexities of the Nigerian telecom market. 

Balsingh’s leadership is expected to drive growth, particularly as Airtel Nigeria focuses on expanding its network and enhancing digital services for underserved areas.

He has also been a vocal advocate for Nigeria’s digital transformation, and his strategic vision aligns with the government’s agenda to ensure economic growth through digital services. He recognizes the increasing demand for digital connectivity across various sectors, such as education, banking, and healthcare, and has committed to strengthening Airtel’s network to meet these needs. 

His leadership style, focused on long-term growth and customer-centric initiatives, will likely position Airtel Nigeria as one of the leading telecom operators in the country in 2025.

3. Ahmad Farroukh – Globacom

Ahmad Farroukh, recently appointed as the CEO of Globacom, has over three decades of experience in the telecommunications industry, Farroukh’s leadership aims to lead Globacom through a critical phase of restructuring and growth. 

His career began in 1995 with Investcom Group, which was later acquired by MTN. Since then, he has held numerous senior leadership roles, including managing director of MTN Ghana, CEO of MTN Nigeria, CEO of MTN South Africa, and Group CEO at Smile Communications Nigeria Limited.

Farroukh has a great record across various telecom markets in Africa and the Middle East, emphasizing his capability to handle high-pressure environments. In 2024, his appointment came as Globacom faced some challenges, including a 69.2% reduction in its subscriber base, attributed to discrepancies uncovered in a regulatory audit. Farroukh is tasked with restoring subscriber confidence and also implementing strategic reforms to improve governance and operational efficiency.

Globacom has faced high competition in the Nigerian telecom sector, and Farroukh’s experience in turning around struggling telecom companies will help in overcoming these challenges. His tenure at Mobily in Saudi Arabia saw him successfully resolve a nearly $1 billion revenue overstatement issue and renegotiate a $4 billion debt. 

His expertise in operational efficiency and restructuring will be needed to revitalize Globacom’s place in the market. 

Furthermore, his discipline in transparency and governance aligns well with the Nigerian Communications Commission’s push for more solid industry standards, making Farroukh’s leadership an essential factor in Globacom’s recovery and growth in the new year. 

He is expected to entrench the culture of corporate governance at Globacom. Can he?

4. Obafemi Banigbe – 9mobile

Obafemi Banigbe’s appointment as CEO of 9mobile in July 2024 has generated anticipation within the Nigerian telecom industry. Banigbe brings with him an extensive background in telecom operations and business strategy across Africa and the United States. 

His career spans influential roles at companies like Celtel (now Airtel), Ericsson, and Millicom, where he shaped operational strategies in Ghana, Tanzania, and several other markets.

In 2024, Banigbe’s leadership is focused on leading 9mobile through its business transformation phase. He is expected to leverage his experience in the telecom, media, and technology sectors to enhance 9mobile’s competitive edge in Nigeria’s highly competitive telecom landscape. 

Banigbe’s appointment aims to enhance customer experience, network quality, and long-term strategic planning to meet the evolving needs of Nigerian telecom consumers.

Banigbe’s vision for 9mobile involves solidifying the company’s presence in Nigeria by building on its existing foundation while exploring new opportunities for growth. He emphasized in his statement that he aims to create value that would transform the Nigerian telecom sector. 

Banigbe’s expertise, particularly his advisory roles with Telecel Group and Nsano Group, places him well to guide 9mobile through its transformation, ensuring it remains a top player in the market. 

His academic credentials, including an MBA from Manchester Business School, complement his professional experience, making him one of the most capable leaders to watch in 2025.

9mobile seeks to enhance itself under Banigbe’s leadership, and the company is expected to introduce innovative solutions and strengthen its place within the competitive telecom market in Nigeria. 

Banigbe’s experience in network support, operations, and strategic planning will be required as he drives the company toward delivering superior customer satisfaction and operational excellence.

From Techeconomy’s estimation, 9mobile requires trillions of naira investment to revitalize its operations and rejig the infrastructure. Can Mr. Banigbe convince the investors? Is 2025 the year of 9mobile? Time shall tell.

5. Adrian Wood – ntel

Adrian Wood’s return to the Nigerian telecoms sector as the CEO of ntel aims to help the company rebrand and compete at a higher level within the market. Having previously served as the CEO of MTN Nigeria, Wood’s wealth of experience positions him to drive significant changes at ntel. 

After taking the role in January 2024, Wood set out with a mission to raise between $500 million and $550 million to restructure the company and expand its network.

In 2024, Wood immediately set to work by engaging with stakeholders, including the Nigerian Communications Commission (NCC) and the Asset Management Corporation of Nigeria (AMCON), which took over ntel’s management. His strategy involved introducing new products and services that had not yet existed in Nigeria’s telecom space. Through meetings with potential investors such as African Capital Alliance, Wood demonstrated his commitment to attracting the capital needed for a major network overhaul. 

His vision includes rolling out a 4G/5G network across Nigeria, a move that will reposition ntel in a competitive market and also provide much-needed infrastructure to enhance the country’s digital sector.

In a letter to ntel staff, Wood outlined his long-term plans, including the launch of a new, innovative brand and service combinations that are fresh to the Nigerian market. 

In focusing on high-impact initiatives and establishing partnerships with top companies, Wood is laying the foundation for ntel’s scale-up into a top telecoms player, making him one of the most closely watched CEOs in the industry as he works to secure funding and overcome the challenges of the telecom market.

Can Mr. Wood pull ntel out of the woods?

6. Kendall Ananyi – Tizeti

Kendall Ananyi’s leadership of Tizeti pushed the company to new achievements in 2024, placing him as a top-tier telecom CEO to watch in 2025. Tizeti, known for its solar-powered, unlimited internet services, did great when with the launch of its FreeFiber broadband service across Nigeria and Ghana. 

This new service aims to continuously bolster internet speed and accessibility, with speeds of over 1Gbps—far surpassing the regional average of 28Mbps.

Tizeti’s expansion into new markets, particularly in Francophone West Africa, shows how focused Ananyi is on growth. In addition to enhancing service delivery in Nigeria, the company extended its reach into Côte d’Ivoire and other regions, addressing digital disparities across the continent. 

Under his guidance, Tizeti celebrated its fifth consecutive year of profitability in 2024, making a strong financial performance that allowed the company to distribute its third annual dividend to shareholders.

Ananyi’s vision for Tizeti isn’t just offering high-speed internet; he aims to bridge the digital divide by providing affordable and reliable internet to millions of Africans. The introduction of hyper-mega speeds of up to 1Gbps, combined with the company’s focus on solar-powered infrastructure, makes Tizeti a top company promoting digital inclusion. 

Ananyi’s leadership also includes advocacy for regional expansion, where he emphasized the importance of operating across multiple African countries to reduce currency risks and ensure financial stability. 

His support for education, particularly his scholarship awards to engineering students in 2023, reveals his desire to build future talent in the tech and telecom sectors. 

Is this the year Tizeti will challenge the big four, especially in the data space?

7. Abhulime Ehiagwina – Smile Communications

In 2024, Abhulime Ehiagwina, appointed as the Acting Chief Executive Officer of Smile Communications Nigeria, came in with a wealth of experience and strategic leadership. A seasoned financial expert, Ehiagwina has led finance teams in various industries, including telecommunications, infrastructure, oil and gas, and conglomerates. 

One of his achievements in 2024 was his leadership in financial management. His ability to implement effective working capital management strategies for telecommunications companies placed Smile Communications for enhanced financial performance and operational efficiency. Ehiagwina’s record also includes overseeing the issuance of a $250 million Eurobond for Helios Towers Nigeria, which was the first non-bank/Oil & Gas Eurobond issuance in Nigeria. 

Ehiagwina’s work in corporate governance was acknowledged when he was named IT & Telecom CFO of the Year at the Nigeria CFO Awards, revealing his place as one of the most influential leaders in the telecommunications sector.

Under his guidance, Smile Communications focused on repositioning its operations to improve service delivery, enhancing its reputation and strengthening its operations in the Nigerian market. Ehiagwina’s leadership, along with the appointment of Mann El Amine as the Group Managing Director, aims to help Smile Communications expand its footprint and improve its service offerings.

Before his current role, he held senior positions at NATCOM (NTEL), Helios Towers Nigeria, Etisalat Nigeria, and other telecom companies. His expertise in corporate restructuring, operational improvement, and organizational renewal makes him one of the top telecom CEOs to watch in 2025.

8. Sam Darwish – IHS

Sam Darwish, the Chairman and Chief Executive Officer of IHS, continued to drive IHS’s growth and positioned the company as a top player in the global telecom infrastructure market. 

In December 2024, IHS raised $1.2 billion through a bond offering to expand its telecom network across Africa, Latin America, and the Middle East. This funding, which included a $100 million commitment from the International Finance Corporation (IFC), will refinance existing debt and also boost IHS’s growth initiatives.

IHS’s focus on sustainability was well obvious in its 2024 achievements, particularly through its focus on digital inclusion and economic development. Darwish led the company to secure strategic partnerships, including a notable deal with IFC, which emphasizes digital inclusion, innovation, and job creation in underserved regions. This partnership will further boost IHS’s work to address connectivity gaps, especially in remote areas across its operational regions.

In July 2024, the company held its Annual General Meeting, where several governance reforms were approved, including changes to its board structure and shareholder engagement policies. These measures aim to enhance corporate governance and align the company’s interests with those of its shareholders. 

Another key achievement in 2024 was IHS’s ongoing contract renewals with telecom companies, including MTN and Airtel. These renewals, particularly the multi-year contract extensions with MTN across several African countries, reinforced IHS’s role in Africa’s telecom infrastructure. Again, IHS signed a new 3,950 tenant multi-year roll-out agreement with Airtel in Nigeria, further enhancing its work in the telecom sector.

Even with challenges such as Nigeria’s naira devaluation, IHS continued to prioritize sustainability and growth. In 2024, the company installed solar-powered boreholes in Maiduguri to support flood-affected communities, ensuring environmental sustainability and corporate social responsibility.

Darwish’s strategic decisions, corporate governance enhancements, and focus on expanding digital infrastructure make him one of the most influential telecom CEOs to watch in 2025.

9. Soji Maurice-Diya – ATC Nigeria

Soji Maurice-Diya, who previously served as the Chief Operating Officer (COO) and Commercial Director, was appointed as the CEO of ATC Nigeria in August 2024. He has a deep understanding of the telecom infrastructure sector and has been indispensable in ensuring the company’s growth. 

Maurice-Diya’s experience, spanning various sectors including technology, media, real estate, and telecommunications, places him among the top telecom CEOs to watch in 2025.

Under Maurice-Diya’s guidance, ATC Nigeria has made commendable advancements in sustainability. He led a groundbreaking environmental initiative in collaboration with the Nigerian Conservation Foundation (NCF), with the goal of planting 6,000 trees across 11 states in Nigeria. 

This initiative reiterated his corporate social responsibility focus and his dedication to environmental conservation in the face of the climate change crisis. Maurice-Diya’s leadership philosophy emphasizes operational efficiency and long-term growth, ensuring that ATC Nigeria is well-positioned to expand its platform and resilience in the years to come.

His previous roles have seen him drive growth at Etisalat Nigeria and IBM, where he contributed to the development of strategic business models and market expansion. Maurice-Diya’s academic credentials, including an MBA in Finance and Strategy from the Yale School of Management, add to his profile as a dynamic and visionary leader. 

In the new year, Maurice-Diya is expected to further boost the company’s place in the Nigerian telecom sector, focusing on innovation, operational excellence, and environmental sustainability.

10. Oladipo Badru – Pan African Towers

Oladipo Badru became the acting CEO of Pan African Towers (PAT) in November 2024. With nearly two decades of experience in the telecom and finance sectors, Badru brings a wealth of knowledge and expertise to his new role. Prior to his promotion, Badru served as PAT’s Chief Financial Officer (CFO), where he helped drive the company’s financial strategies and operational efficiencies. His transition into the CEO role follows the resignation of Azeez Amida, who led the company for two and a half years.

Badru’s leadership comes at a time when the telecom tower infrastructure market in Nigeria is highly competitive. PAT, which currently operates 764 active towers across Nigeria and serves over 1,200 tenants, faces competition from industry giants such as IHS Towers, ATC, and Helios Towers. 

However, with Badru, PAT is strengthening its marketplace. The company’s recent funding from Development Partners International (DPI) and Verod Capital aims to enhance its expansion plans, including the goal of tripling its tower footprint and addressing Nigeria’s infrastructure gap through strategic acquisitions and partnerships.

Badru’s career spans several high-profile roles, including Director of Finance at Etisalat UAE and Director of Finance and Operations at 9mobile. His experience also includes leadership positions at Helios Towers Nigeria, where he led the company’s growth. 

Badru’s financial background, combined with his operational expertise, places him as a key driver of innovation in the telecom infrastructure space. Under his leadership, PAT is expected to continue its transformation, enhancing connectivity across Nigeria and contributing to the country’s digital economy.

Badru’s qualifications, including an MSc from the University of Cumbria and his fellowships with various professional accounting bodies, further highlight his credibility as a seasoned leader in the telecommunications industry. 

As he leads Pan African Towers into 2025, Badru seeks to expand the company’s footprint and enhance its work in Nigeria’s telecom infrastructure market.

Jyoti Desai, a former Group Chief Operating Officer of MTN, is a banking and telecoms professional with more than 35 years in the industry.

Her achievements in banking, including a stint at Standard Bank, include driving largescale transformation in the banking industry to streamline operational cost and shifting focus to customer centric, segment-based value propositions.

An experienced professional with a demonstrated history of working in the financial services industry as well as fixed and mobile telecoms, she has more than 15 years’ experience in Africa and the Middle East.

Desai is also skilled in startups in emerging markets, notably in the technical, commercial and operational aspects of the telecom business, and has more than 25 years’ experience in cost and operational transformation, including digital transformation, large scale project execution, Service Delivery, 3G, LTE, Mobile Communications, Universal Mobile Telecommunications System (UMTS), and more recently 5G.

Vivek Gupta is a first-generation entrepreneur, investor and telecoms veteran. As Founder and Director of iSON Group, he has built a dynamic ecosystem of businesses in IT & ITeS, BPO and Telecom Infrastructure and Services, employing 20,000+ resources, spanning 40 countries across Africa, Asia and Middle East. Gupta became an entrepreneur in 2008 as CEO of Zamil Infra, iSON’s first joint venture with the $8B Saudi conglomerate, Zamil, that specializes in build and managed services for telecom passive infrastructure.

Under Gupta’s leadership, iSON Group diversified in Renewable energy, Digital infrastructure, Digital Healthcare and Health insurance sector. iSON Group has grown both organically and inorganically in last few years. He spent two decades creating an illustrious career within the telecom sector, working for multinationals such as Ericsson and IBM.

In 2008, he was recognized by Fortune as “IBM’s All-Star Salesman” for contracting over $5 Billion worth of business and executing high value transformational and ‘out of box’ deals, particularly path-breaking strategic outsourcing deals with Bharti Airtel, Idea & Vodafone that have gone on to become one of the most successful business models for the company.

“As can be seen from their profiles, both Desai and Gupta’s extensive global experience, and their contributions to the advancement of telecommunication, technology and infrastructural development in Africa and beyond make them invaluable assets for us at Pan African Towers, especially at this point in time where we are on a continuous improvement drive across our operations within Nigeria, and with a vision to grow our digital infrastructure base,” said Azeez Amida, managing director and Chief Executive Officer at Pan African Towers.

Pan African Towers was established in 2017 to capitalize on the growing demand for wireless communications across Africa and has since emerged as a prominent telecommunications and tower infrastructure provider.

It would be recalled that in November last year, Pan African Towers announced a strategic investment from Development Partners International (DPI), a premier investment firm focused on Africa, and Verod Capital (Verod), one of the continent’s leading investment management firms.

DPI and Verod are investing in PAT to fuel its continued growth and will work with management to build on the company’s recent achievements and reaffirm its position as Nigeria’s largest homegrown digital infrastructure provider.

With this appointment, Jyoti Desai and Vivek Gupta joins Adefolarin Ogunsanya, Daniel Adeoye, Marc Stoneham and Azeez Amida on the board of Pan African Towers.

• The investment will act as a launchpad for Pan African Towers (PAT) to embark on the next phase of its strategy and accelerate the Nigerian telecommunications market. 
• DPI and Verod Capital will work with PAT’s highly experienced management team to strengthen the business.

Pan African Towers (PAT), a leading digital infrastructure company based in Nigeria, has announced a strategic investment from Development Partners International (DPI), a premier investment firm focused on Africa, and Verod Capital (Verod), one of the continent’s leading investment management firms.

DPI and Verod are investing in PAT to fuel its continued growth and will work with management to build on the company’s recent achievements and reaffirm its position as Nigeria’s largest homegrown digital infrastructure provider.

Established in Nigeria in 2017 to capitalise on the growing demand for wireless communications across Africa, PAT has emerged as a prominent telecommunications and tower infrastructure provider in Nigeria, playing an indispensable role in the nationwide expansion of mobile communications.

Since founding, PAT has built a successful business model centred around establishing tailored, long-term contracts with blue-chip customers, including Nigeria’s leading mobile network operators (MNOs) and internet service providers (ISPs).

The success and strong performance of the company to date has further accelerated under the leadership of Azeez Amida, the chief executive officer, who has a strong track record of executing successful growth strategies in emerging market telecommunications.

Nigeria is an attractive market for digital infrastructure in Africa. Underpinned by its strong demographics, it is Africa’s leading telecommunications market by number of mobile subscribers (208m) and contributed c.13% of national GDP in 2021 compared to 8% in 2015.

As of December 2021, there were 41,120 towers in Nigeria mostly supporting third generation (3G) and fourth generation (4G) technology across the country. However, according to Nigeria’s Ministry of Communications, the country needs between 70,000 to 80,000 towers to enable proper quality and coverage for 4G and 5G technology, creating a supply gap of more than 30,000 towers. This investment will enable PAT to capitalise on this opportunity and help close this gap, providing world-class digital infrastructure to support Africa’s economic development. 

Azeez Amida, CEO of Pan African Towers, said: “As a proud Nigerian-founded and run business, Pan African Towers is on a mission to accelerate the Nigerian market and support the growth of the mobile telecommunications sector in the country. We also have a clear strategic vision to grow the business sustainably, including actively reducing the carbon footprint of our network to uphold best-in-class ESG practices. We are excited to partner with DPI and Verod and will leverage their sector experience and market expertise to help us achieve these goals. The evolution of Nigeria’s mobile and wireless industry presents significant opportunities for our business, and we look forward to being a part of this next chapter of growth.” 

PAT’s experienced management team will work closely with DPI and Verod to accelerate its strategic plan, leveraging their expertise in areas such as market entry, operational efficiency, and talent management.

With the support of both investors, PAT will deepen relationships with existing partners, expand its customer base, and grow its footprint of towers to reach new parts of the country where mobile and wireless penetration remains low.

PAT will also benefit from DPI’s experience in scaling towers companies, as the first institutional investor in Eaton Towers, another of Africa’s leading telecoms businesses it exited in 2019.

Adefolarin Ogunsanya, Partner at DPI, said: “Pan African Towers is an exciting homegrown business with significant potential and is uniquely positioned to benefit from the opportunity presented by Nigeria’s digital innovation boom. We are incredibly excited to partner with PAT’s management team to help crystallize the Company’s vision of becoming Nigeria’s digital infrastructure provider of choice and look forward to sharing our deep knowledge and experience of Africa’s towers industry and the Nigerian market to help achieve this.”

Daniel Adeoye, Principal and Head of Investments at Verod Capital, said: “The Nigerian demographic is currently experiencing a surge in data consumption and related services, driven by a generation of tech-savvy digital natives that are unparalleled. The ‘Verod Consumer Spend Index’ indicates that telecommunication expenses are increasing significantly, providing a tailwind for tower companies like PAT. Verod is delighted to support PAT’s management with ample capital and value-creation expertise to navigate this period of growth.” 

Since Independence in 1960, the telecoms sector has impacted on the Nigerian economy in several positive ways, creating jobs and contributing to the Gross Domestic Product (GDP) of the Nigerian economy.

Before Nigeria gained independence in 1960, communication was mainly through the telegraphic wire, initiated by the colonial masters, but after independence in 1960, the Nigeria Telecommunications Limited (NITEL), was established in 1985, following the separation of postal services from telecommunications services.

At that time, telecommunication was the exclusive right of the affluent in the society as only few people had access to telephony.

People had to queue for hours and days, just to make international calls and sometimes local calls with the 090 NITEL line.

During that period, the existing Telecom operators were NITEL and a few other Code Division Multiple Access (CDMA) operators. However, the advent of GSM in 2001 eventually demystified telecommunications, and gave every Nigerian the access and right to communicate.

The introduction of GSM in 2001, increased the number of registered lines from less than 400,000 in 41 years of independence, to over one million lines in less than one year after the introduction of GSM.

After 2001, more and more Nigerians could sit at the comfort of their homes and offices to make instant calls within and outside Nigeria, through their personal hand-held devices called the mobile phones.

Banking activities are now transacted on the mobile phones, without the bank customer visiting the banks.

The most eventful period was between 2001 and 2015, when the telecoms sector was deregulated.

The Structures

In preparation for the proper regulation of the telecoms sector, the Nigerian Communications Commission (NCC), the telecoms industry regulator was established by an Act of law in 2000, and in 2003, the Nigeria Telecommunications Act was enacted, which defined the structures of the Nigerian telecoms sector.

In 2001, the first set of GSM operators were licensed by NCC. They included Econet Wireless (now Airtel), MTN and NITEL.

In 2003, Globacom was licensed and in 2008, Etisalat, now 9mobile, was licensed, while NTEL, the mobile arm of NITEL was licensed in 2014, but rolled out services in 2016, after the successful privatisation process, through a guided liquidation exercise.

However, following the inability of NITEL to cope with competition from GSM operators, it folded up its operations and was eventually sold to NATCOM in 2014, and later re-sold to private investor after it was unbundled and it currently trades as Ntel, under a private ownership and with the Asset Management Corporation of Nigeria as a majority shareholder.

Core Telcos

The core telecom operators (Telcos), such as MTN, Airtel, Globacom and 9mobile were initially licensed by NCC to provide mobile voice services.

The NCC however licensed Globacom as a Second National Operator (SNO) to offer fixed (landline), in addition to wired and wireless (mobile) services that other core operators were offering.

NCC also licensed Internet Service Providers (ISPs) to offer internet data services, but in 2005, NCC deregulated the telecoms sector and granted a five year exclusivity period to GSM operators and also extended their license to cover data service offering.

The core telecoms operators had to roll out their own telecoms infrastructure to aid network expansion across the country.

Chairman, Association of Licensed Telecoms Operators of Nigeria (ALTON), Engineer Gbenga Adebayo, said the core telcos had to reinvest their profits into telecoms infrastructure rollout because the federal government could not deploy the $285 million licence fee paid by each core operators for telecoms infrastructure rollout as early promised.

“To achieve effective network coverage, the core telcos were in building Base Transceiver Station (BTS) and connecting radio links, while at the same time, laying fibre optic cables and connecting them to BTS for effective coverage, which come at a huge cost and burden to telecoms operators. Again, the cost of maintaining BTS was on the high side, because each BTS runs on two generating sets on a 24 hours basis and the cost of diesel has continued to increase, even more so with the recent removal of fuel subsidy by the federal government,” Adebayo said.

He however said at a point, the core telcos had to outsource the building of telecoms masts (BTS) and the maintenance and operations to core infrastructure companies like IHS, to enable the core telecoms operators to focus on their core area of telecoms service delivery to telecoms subscribers.

Infrastructure Companies (InfraCos)

Infrastructure Companies like IHS, MainOne, Pan African Towers, SWAP Technologies, Zinox Technologies, Broadbased Communications, Brinks Integrated Solutions, O’dua Infraco Resources among others, were initially licensed as InfraCos to provide telecoms infrastructure across the six geo-political zones in the country, but the arrangement failed years later because of the difficulties most of the licensed faced in deploying telecoms infrastructure across the various regions.

The InfraCos were supposed to provide BTS also known as Base Stations, as well as fibre optic cables and radio links for the transmission of voice and data services, but they were resisted by agencies of state governments and social miscreants who demanded and to a large extent continue to demand outrageous amounts of money from them as condition for rollout of telecoms infrastructure in the various regions.

Some agencies of state governments either refused to grant Right of way (RoW) permit for infrastructure rollout, or arbitrarily hiked the charges for RoW in their states, thus making it difficult for InfraCos to roll out telecoms infrastructure in most states.

The situation forced some InfraCos like IHS and MainOne to return their InfraCo licence to the NCC, after paying N2.5 million for a ten-year InfraCo licence.

Some operators were licensed to deploy telecoms masts across the country, maintain the operations of telecoms masts and allow telecoms operators to collocate by fixing their radio links and antennae on the installed telecoms masts.

Operators involved in providing telecoms masts include: IHS, American Towers Company (ATC), Pan African Towers, Coloplus Limited, among others.

Telecom mast providers are faced with a myriad of challenges in deploying telecoms masts across the country, a development that affects the quality of telecoms service delivery across networks.

Multiple taxation, foreign exchange rate volatility and availability, vandalism, insecurity, asset theft, intra-industry indebtedness, non-designation of telecommunications infrastructure as Critical National Infrastructure and power solutions are some of the problems facing the industry sub-sector.

All these issues culminate in having an adverse impact on communications because the quality of service is ultimately affected.

With a gap of approximately 40,000 towers needed (without 5G) to cover the country as has repeatedly been said by NCC, these issues need to be addressed not only to improve the quality of current service delivery but also to provide network coverage for the rest of the country.

The building of towers in close proximity to already existing towers must also be addressed if national coverage is to be achieved within a reasonable time. The network must expand to currently unserved parts of the country.

Mr. Mike Ofili, CEO of Coloplus Limited, admitted to the huge challenges faced in deploying telecom masts across the country.

According to Ofili, the telecoms mast providers must have the buying and consent of telecoms operators, before investing in a single telecoms mast (Tower), which he said, cost between N35 million to N40 million, depending on the location.

Speaking on some of the challenges in deploying telecoms masts, Ofili said:

“Nigeria imports virtually everything that has to do with telecoms’ tower equipment and installation. We import the towers, generating sets, batteries, rectifiers, including iron/rod used for reinforcement. The rising cost of dollar and the weak value of the naira against the dollar, coupled with the inability to access Forex, have affected importation of equipment, thus slowed down network expansion, leading to poor telecoms’ service delivery. The issue of multiple regulation and multiple taxes imposed on telecoms’ operators by agents of governments, are also affecting the deployment of telecoms masts, which telecoms operators rely on to provide quality service to subscribers,” Ofili said.

According to him, with multiple regulations from state agencies, telcos are forced to pay for Environmental Impact Assessment fee, Right of Way (RoW) charges, mast installation charges, radioactive emission charges, among other charges that amount to multiple taxes.

“Cost of maintaining BTS is also very expensive. Nigeria has about 30,000 BTS installed across the country, with some decommissioned while about 30,000 BTS are still active, with high cost of maintenance. The cost of diesel to power a BTS is on the increase and the financial demand from non-state actors who parade themselves as social miscreants, is becoming rampant and impacting negatively on the running cost of a BTS. Network operators had tried severally to increase cost of telecoms services delivery in line with the rising cost of providing telecoms services, but the regulator, the NCC, will not agree, and the situation is adversely affecting telecoms operations across networks,” Ofili said.

Other sources online put the number of installed towers in Nigeria at over 40,000 as at 2021.

The development slowed down network expansion of telecoms operators and invariably, quality of telecoms service delivery has been adversely affected.

Following the collapse of the InfraCo arrangement, telecoms infrastructure providers started making personal negotiations to roll out telecoms infrastructure, but at a very slow pace that is negatively affecting telecoms service delivery, because the telecoms operators largely depend on the telecoms infrastructure companies to deliver telecoms services to the subscribers.

Speaking on some other challenges faced by telecoms operators, Engr. Gbenga Adebayo, the Chairman of the Association of Licensed Telecoms Operators of Nigeria (ALTON),  said maintenance of BTS was becoming a major challenge as cost of diesel continued to rise since the removal of fuel subsidy by the federal government.

According to Adebayo, the operators have called for an increase in telecoms tariff, but the move has always been resisted by the NCC and the telecoms subscribers.

Adebayo added that all other sectors of the Nigerian economy have had reasons to increase cost of service delivery to the people because of the prevailing circumstances in the country occasioned by fuel subsidy removal, but there had always been resistance each time the telcos talk about price increase.

Value Added Service (VAS) Operators

VAS operators are another set of operators that the telecoms operators rely on in providing quality telecoms services to telecoms subscribers.

VAS operators are licensed by the NCC to provide value added services that will enable telecom operators to serve telecom subscribers in a most effective way. Although they do not have telecoms infrastructure, they ride on existing telecoms infrastructure to offer telecom services that are regarded as value added services to telecom operators.

Their services are essential because they determine the quality of service that telcos offer to their subscribers.

Some of the services include: Call waiting, Call forwarding, multi-party conferencing, Short Message Service (SMS), and special ringtones.

The major challenge faced by VAS operators is in the area of pricing of the solutions developed and offered by VAS operators.

Mr. Chijioke Ezeh, National Chairman of VAS operators, who confirmed the issue of pricing, said the issue still persists, because the sharing ratio between VAS operators and telecoms operators are never favorable to VAS operators. According to him, the telecoms operators will want to take the lion share from the proceeds of any VAS solution offered by telecoms operators, just because the telecoms operators own the telecoms infrastructure on which the VAS solution rides on.

Mobile Virtual Network Operators (MVNO)

In addition to the services that Value Added Service (VAS) operators are offering in the telecoms sector, the Nigerian Communications Commission (NCC), recently licensed 25 Mobile Virtual Network Operators (MVNO) that will also ride on the existing telecoms infrastructure to provide telecoms services that will enhance telecoms subscribers’ experience.

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Although many industry analysts have blamed the licensing of 25 MVNOs, insisting it would lead to duplication of solutions and harsh competition between VAS operators and MVNOs. National Chairman of VAS operators, Mr. Chijioke Eze, however said both VAS and MVNOs could collaborate and offer quality services without any form of friction.

Internet Service Providers (ISPs)

The Internet Service Providers (ISPs) are another set of operators licensed by NCC to provide internet connectivity for data services.

Their role is interwoven with telecom operators that also offer data services, alongside voice services.

The interwoven nature of the role of both operators is causing great concern to ISPs that are smaller in size and capacity. Because the telcos have the numbers, with a subscriber base of over 220 million across networks, they appear to run out the smaller ISPs that have less subscriber base.

Commenting on the situation, Mr. Charles Anudo, the CEO of Swift Networks, who is an ISP, said most ISPs are being suffocated by Telecom operators that provide the same data service with ISP.

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According to him, ISPs were originally licensed to provide data services, while telcos were originally licensed to provide voice services.

He however said the deregulation of the telecoms sector, provided opportunity for telcos to offer data services, a development, he said, was already affecting ISPs. He called on the regulator to ensure protection of ISPs, especially the smaller ISPs, in order to save them from going into extinction.

From the analysis above, it is evident that the challenges in the telecoms sector is not only embedded with telecoms operators, as it cuts across several sub-sectors like VAS, InfraCos, MVNOs, and ISPs, making it a web of challenges that has to be addressed by all the players in the industry, including the regulator, the NCC.

Olajide Adisa, is a Telecoms/ICT Analysts & Commentator writes from Abuja