Business
DStv Subscription: Court dismisses MultiChoice suit against FCCPC
The Federal High Court in Abuja has dismissed a suit filed by MultiChoice Nigeria, the parent company of DStv and GOtv, challenging the Federal Competition and Consumer Protection Commission’s (FCCPC) intervention following a recent hike in subscription cost.
In the judgment, Justice James Omotoso ruled that the suit constituted an abuse of court process as similar proceedings were already pending elsewhere.
The judge stressed that MultiChoice should have pursued its arguments in that court. He said if that was done it would have rendered the suit at the Federal High Court procedurally inappropriate.
Justice Omotoso noted that while the Commission has investigative powers under its establishing Act, it, however, lacks the authority to fix or suspend prices unless as delegated by the President through a gazetted instrument. No such delegation was presented to the court.
“The power to fix prices is exclusively that of the President. Any decision taken without such delegation is a nullity,” the judge stated.
He added that because Nigeria operates a free market system, service providers like MultiChoice have the right to set their prices, with consumers free to accept or reject them.
The judge further ruled that FCCPC’s actions, including directing MultiChoice to suspend its price increase, is in breach of the company’s right to fair hearing and appeared selectively targeted.
He dismissed the FCCPC’s claim that MultiChoice held a dominant market position, calling the argument untenable.
“The use of services like those provided by the plaintiff is discretionary and not essential. Nigeria can do without it,” Justice Omotosho added.
The judge thereby warned that attempts to fix prices by regulatory bodies could scare off potential investors and harm the economy.
The court held that while the FCCPC may investigate market practices, it cannot impose price controls without proper legal backing.
MultiChoice had increased subscription rates by up to 25% on March 1, 2025, citing inflation and the attendant rose in operational cost.
Following public outcry, the FCCPC opposed the move, calling for regulatory review and threatening sanctions, prompting the lawsuit.
Fuel prices in the Federal Capital Territory have surged sharply, with petrol now selling for as high as N1,371 per litre at some stations, sparking frustration among consumers.
Reports showed NIPCO selling at N1,371 per litre and AYM Shafa at N1,370 per litre. NNPC Retail has also raised its pump price to N1,361 per litre, up from N1,261 per litre last week, while MRS, a Dangote partner station, now charges N1,367 per litre, up from N1,270.
The increases come after Dangote Refinery’s recent gantry price adjustments, marking roughly a 55 per cent rise in petrol prices over the past three weeks.
Earlier hikes included:
March 3: NNPC at N975/litre, AYM Shafa at N960/litre
March 6: NNPC at N1,068/litre, AYM Shafa at N1,098/litre
March 9: NNPC climbed from N1,161 to N1,267/litre; AYM Shafa rose from N1,230 to N1,300/litre
Minor dips two days later were short-lived, as prices surged again in subsequent days.
Business
Dangote Refinery Ship 456,000 tonnes of PMS to African countries in February
The exports arrive at a moment of acute disruption in global energy markets, with several African countries that have historically depended on large refineries in the Persian Gulf now looking to Dangote as an alternative source.
The Dangote Petroleum Refinery has completed the sale of 12 cargoes of refined petroleum products totalling 456,000 tonnes to neighbouring African countries in February.
In a statement, the Refinery said that the shipments, sold on a free-on-board basis to international traders, have been delivered to Côte d’Ivoire, Cameroon, Tanzania, Ghana, and Togo — a spread that signals the refinery’s ambitions extend well beyond its West African neighbourhood.
“This accomplishment underscores the Dangote Refinery’s capability to not only meet but exceed Nigeria’s domestic fuel demands.”
The exports arrive at a moment of acute disruption in global energy markets, with several African countries that have historically depended on large refineries in the Persian Gulf now looking to Dangote as an alternative source.
The refinery has framed its regional role in pointed terms, describing West Africa as a market long regarded as “a dumping ground for lower-quality fuels” and positioning its Euro 5-standard gasoline and diesel as a corrective to that history.
Business
Moniepoint buys Orda to capture Africa’s $50bn restaurant economy
Founded in 2020, Orda built software designed for small and independent restaurants that previously operated without digital systems.
Photo: Tosin Eniolorunda, Moniepoint co-founder and group CEO
Nigerian fintech company Moniepoint Inc. has acquired restaurant management startup Orda Africa in a move aimed at expanding its reach into Africa’s fast-growing food service industry, a sector estimated to be worth about $50 billion across the continent.
BusinessDay reports that the deal integrates Orda’s cloud-based restaurant software into Moniepoint’s business management platform, Moniebook, allowing food vendors and restaurants to manage orders, payments, inventory and accounting from a single system.
The acquisition highlights a wider shift among African fintech firms that are moving beyond payments to offer operational tools and credit to small businesses, especially those in the informal economy.
Tosin Eniolorunda, Moniepoint co-founder and group CEO, said that the food sector represents one of the most active but underserved parts of Africa’s economy.
“The food industry is a major source of jobs and daily survival for many Africans,” Eniolorunda said, adding that many businesses still rely on manual processes and disconnected tools.
The move reflects a growing competition among financial technology firms to control the digital infrastructure behind small businesses, particularly restaurants, which generate frequent transactions and require working capital.
Africa’s food service market is expanding quickly as urban populations grow and more consumers eat outside the home.
Nigeria alone is projected to see its restaurant market reach about $19.3 billion by 2030, growing at an annual rate of more than 11 percent.
Founded in 2020, Orda built software designed for small and independent restaurants that previously operated without digital systems.
The company’s tools help businesses track orders, manage kitchen workflows and monitor stock levels.
Guy Futi, Orda CEO, said joining Moniepoint would allow the company to connect operational data from restaurants with financial services such as payments and credit.
“To truly transform the industry, we needed to connect that expertise with comprehensive financial infrastructure,” Futi said, adding that customers would continue to use the platform while gaining access to new services.
Two Pilots Killed, Dozens Injured After Air Canada Jet Collides with Fire Truck
Bill Cosby Ordered to Pay $19.25 Million After Jury Finds Him Liable for 1972 Sexual Assault
Petrol hits N1,371 per litre in Abuja, consumers decry soaring prices
Tech Expert, Zuckerberg trains with UFC champions, Adesanya, Alexander
Organ Trafficking: Ekweremadu bags 10 years in UK prison
SAINT OBI: Between his marriage and his death
-
News1 day agoBUK expels 171 students for admission frauds
-
Sports2 days agoFIFA orders representation of female coaches across all women’s tournaments
-
Sports2 days agoOdegbami: Why CAF should return AFCON 2025 trophy back to Senegal
-
News2 days agoWhy I returned to school – Emir Sanusi
-
Entertainment1 day agoPapa Ajasco rebrands as Bondu Alaska
-
Entertainment1 day agoAGN President Jetting to London for UK–Nigeria Creative Roundtable and Awards
-
Business1 day agoMoniepoint buys Orda to capture Africa’s $50bn restaurant economy
-
Politics1 day agoPeter Obi: I can govern from Kaduna if elected