In response to evolving economic conditions and market pressures, companies in Nigeria and globally are increasingly turning to Mergers and Acquisitions (M&A) as a strategic tool to stay competitive, increase revenue, expand their customer base, penetrate the market or meet regulatory thresholds. M&A transactions have become a key component of corporate growth and restructuring. In Nigeria, the M&A landscape has witnessed significant activity, with transactions totaling approximately USD 3.8 billion in the first nine months of 2024 which was 47.2 percent higher than $1.76 billion reported in Q1 2022. During this same period, forty (48) M&A transactions were recorded in Nigeria.
As this trend is expected to continue into 2025 and beyond, it is essential for businesses, especially those unfamiliar with Nigeria’s regulatory landscape, to understand the legal and procedural requirements governing mergers and acquisitions. M&A activity in Nigeria is primarily regulated by the Federal Competition and Consumer Protection Commission (FCCPC) and, in the case of public companies, the Securities and Exchange Commission (SEC). These regulators issue guidelines, notices, and regulations that, if not properly followed, can render a transaction invalid or expose the parties to sanctions.Consequently, this article seeks to identify and explain the different stages, preparatory steps and key requirements for a successful M&A in Nigeria.