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NGO criticises MultiChoice’s price hike in Nigeria, discounts in South Africa

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3 days ago

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A group, known as Save the Consumers, has criticised MultiChoice Nigeria over the recent price hike on DStv and GOtv services, describing it as discriminatory and exploitative.

On February 24, MultiChoice announced an increase in the price of subscriptions for its DStv and GOtv packages.

The development, which came nearly one year after the firm increased its subscription rates, took effect on March 1.

On February 27, the Federal Competition and Consumer Protection Commission (FCCPC) directed MultiChoice to maintain its current subscription prices until an ongoing investigation into the price hike was concluded — but the firm ignored the directive.

In a statement on Sunday, the group’s executive director, Aliyu Ilias, criticised the 21 percent increase in subscription fees.

The group highlighted the contradiction in MultiChoice’s pricing policies, pointing out that while Nigerian consumers are being charged more, South African subscribers are enjoying price reductions of up to 38 percent along with additional channels and improved services.

The NGO also accused MultiChoice of defying the FCCPC’s directive to suspend all price adjustments pending an ongoing investigation.

“This action is not only insensitive and exploitative, but also blatantly discriminatory,“ Ilias said.

“Even more troubling is the company’s simultaneous enhancement of service offerings and reduction of prices for South African customers.

“In South Africa, MultiChoice has lowered fees on various products, added new channels, and introduced features that improve the user experience, all while acknowledging the financial pressures faced by South African households.

“This double standard, lowering prices at home while increasing them in Nigeria, amounts to economic discrimination and reinforces long-standing concerns about MultiChoice’s exploitative approach toward the Nigerian market.

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“It is indefensible for MultiChoice to cite inflation in Nigeria as justification for the hike while offering consumer-friendly pricing in South Africa.

“This reflects a disturbing double standard, with Nigerian consumers continuing to suffer under a near-monopolistic market structure that MultiChoice exploits with impunity.

“While MultiChoice claims the price hike is necessary to deliver “world-class content,” Nigerian subscribers still face persistent challenges that remain unaddressed despite repeated complaints.

“These include repetitive content, frequent service disruptions, and poor value for money.

“Rather than resolving these issues, MultiChoice has chosen to penalise its loyal Nigerian customers with higher prices, once again proving that profit, not service or fairness, is its primary motivation.

“Meanwhile, South African subscribers benefit from reduced pricing, such as the “Add Movies” bolt-on slashed by 38% to R49, alongside additional channels and enhanced streaming features.

Ilias also said the justification by Byron Du Plessis, MultiChoice chief executive officer (CEO), that the changes are due to “financial pressures faced by households further demonstrates the company’s hypocritical and disingenuous treatment of Nigerian consumers, who are themselves grappling with a severe cost-of-living crisis”.

“This double standard—lowering prices at home while increasing them in Nigeria—amounts to economic discrimination,” he added.’

The organisation also called on the National Broadcasting Commission (NBC) to foster competition in the pay-TV sector and end MultiChoice’s “monopoly”.

In addition, the group urged the FCCPC to take legal action against the company for ignoring regulatory directives.

Save the Consumers further demanded the immediate reversal of the latest price hike, compensation for affected customers, and a transparent review of MultiChoice’s pricing model and service quality.

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“We urge the FCCPC to initiate legal proceedings against MultiChoice for its defiance of regulatory orders and its disregard for consumer welfare,” the group said.

“A transparent investigation into its pricing model, service quality, and compliance with Nigerian competition and consumer protection laws is essential.

“We call on Nigerian consumers to explore alternative platforms and consider boycotting DStv and GOtv until MultiChoice demonstrates genuine respect for their rights.”

Save the Consumers also said MultiChoice’s discriminatory pricing, rewarding South African subscribers with lower costs and better services while exploiting Nigerians, “is a glaring example of unchecked corporate greed”.

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Business

UBA dividend payment lifts market with N369bn gain

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2 days ago

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March 25, 2025

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The stock market opened the week on a positive note, with investors gaining N369 billion and performance indices rising by 0.56 per cent on Monday.

Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation increased by 0.56 per cent to N66.188 trillion from an opening of N65.819 trillion recorded on Friday.

The All-Share Index also rose by 0.56 per cent, or 588.43 points, to close at 105,551.39, up from 104,962.96 posted on Friday.

The surge in market capitalisation was due to the United Bank for Africa’s announcement of three Naira as dividend payment to shareholders, thereby boosting investor confidence in the banking sector of the market.

The market breadth closed positive, with 25 gainers and 22 losers.

On the gainers’ chart, Royal Exchange soared by 10 per cent to close at 88k, while Livestock Feeds gained by 9.87 per cent to close at N9.24 per share.

Abbey Mortgage Bank increased by 9.72 per cent, to close at N3.95, and Universal Insurance soared by 9.62 per cent to close at 57k per share.

Similarly, Sunu Assurance gained by 9.22 per cent to close at N5.45 per share.

On the losers’ chart, Nem Insurance lost by 9.63 per cent to close at N12.20, while United Capital declined by 9.29 per cent to close at N16.60 per share.

Computer Warehouse Group fell by 6.67 per cent to close at N8.40, and DAAR Communications lost by 6.06 per cent to close at 62k per share.

Also, Africa Prudential fell by 5.56 per cent to close at N15.30 per share.

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A total of 440.52 million shares, worth N10.470 billion, were exchanged across 13,314 transactions.

This is compared with 397.208 million shares, valued at N14.170 billion, exchanged across 10,099 transactions last Friday.

Transactions in Zenith Bank shares topped the activity chart with 55.062 million shares valued at N2.605 billion.

First City Monument Bank followed with 49.59 million shares worth N449.09 million, while United Bank for Africa sold 47.39 million shares valued at N1.835 billion.

Access Corporation traded 37.24 million shares worth N834.092 million, and Fidelity Bank transacted 31.298 million shares valued at N563.89 million.

Mr David Adonri, Vice President of Highcap Securities Ltd., said the surge in market capitalisation signified the return of investor confidence to the banking sector.

Adonri said, “Banks had earlier announced a delay in the submission of their financial year results.

“However, United Bank for Africa released its corporate disclosure, saying it is paying three Naira as final dividend, so that restored investor confidence in that sector.

“The sector is the arrowhead that drives the market. That was the development that propelled the market massively today.” (NAN)

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Explosion hits gas facility in Rivers

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3 days ago

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March 24, 2025

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An explosion has been reported at Soku gas pipeline along the Soku-Elok (Abua)-Rumuji-Bonny export terminal in Rivers state.

Confirming the development, Christian Otiasah, an environmental manager in Soku community, said the facility is “operated by Renaissance Group”, noting that the explosion triggered a fire that began late Saturday night.

Although the cause of the explosion remains unknown at the time of reporting, Otiasah said the incident occurred between 10 pm and 11 pm on March 22.

“There was an explosion and there was an attendant fire. The fire has been put off. It was put off because the Soku gas plant is automated such that depending on the impact, it can shut down itself,” he said.

“In other words, it can also isolate affected lines and starve off that line. If you starve the source of oxygen, the fire will naturally go off.

“The explosion actually occurred along the delivery gas line, not in the gas plant.”

The spokesperson of Renaissance did not respond when TheCable contacted him for comments.

The incident comes almost a week after an explosion ruptured a segment of the Trans-Niger Pipeline (TNP) in Bodo community, Gokana local government area (LGA) of the state.

The TNP, a critical federal oil transport line, feeds crude to the Bonny export terminal in Rivers.

Now under the control of Renaissance, the TNP was formerly operated by the Shell Petroleum Development Company of Nigeria Limited (SPDC).

The explosion had led to a temporary shutdown and raised concerns about potential environmental damage and oil supply disruption from the facility.

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On March 19, Tony Okonedo, Renaissance Group’s spokesperson, told TheCable that operations have resumed at the facility following a “third-party intervention”.

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Tony Elumelu Foundation grants $15m to 3,000 African entrepreneurs

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3 days ago

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March 23, 2025

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The Tony Elumelu Foundation (TEF) has announced a $15 million grant to support 3,000 budding entrepreneurs from 52 African countries.

TEF Founder, Mr Tony Elumelu, made this known on Sunday in Abuja during the unveiling of the 2025 cohort of the foundation’s Entrepreneurship Programme.

He stated that each beneficiary would receive a $5,000 seed grant to kick-start their businesses.

Elumelu, who is also the Chairman of Heirs Holdings, Transcorp, and United Bank for Africa (UBA), reaffirmed his commitment to empowering African entrepreneurs and transforming the continent’s economic landscape.

According to Elumelu, the foundation aims to democratise opportunity across the continent, fostering economic growth and providing young Africans with access to funding and mentorship.

“We had a vision that started in 2010; one that envisions a self-sustaining Africa, driven by the energy, vision, and resilience of young entrepreneurs.

“We understand the challenges they face in contributing to Africa’s economic transformation.

“If empowered and encouraged, these young Africans can drive meaningful change,” he said.

He noted that capital alone was not enough, highlighting the importance of business education, mentorship, and training in building successful entrepreneurs.

The entrepreneurship programme, which began in 2015, originally set out to economically empower 10,000 young Africans over 10 years, each receiving $5,000 in seed capital.

“This year marks the 15th anniversary of the foundation, and we have made a considerable impact across all 54 African countries.

“In the 21st century, Africa does not need aid; what it needs is investment in its youth,” Elumelu said.

TEF Chief Executive Officer (CEO), Somachi Chris-Asoluka, noted that since the programme’s launch in 2015, the foundation had.disbursed over $100 million to more than 21,000 young entrepreneurs across Africa.

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According to Chris-Asoluka, these businesses have collectively created 1.5 million enterprises, and generated $4.5 billion in revenue.

“Our entrepreneurs have demonstrated that ideas are the lifeblood of the African continent.

“For the 2025 cohort, we received over 200,000 applications, and from this pool, 3,000 entrepreneurs from 52 African countries will receive $15 million in funding.

“Each entrepreneur will receive a $5,000 non-refundable seed grant; this is neither a loan nor equity,” she stated.

She further assured that the foundation had a monitoring and evaluation platform in place to track progress after disbursement, ensuring that beneficiaries adhered to their approved business plans.(NAN)

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