Business
MultiChoice faces FCCPC tomorrow to defend price adjustments for DSTV, GOtv viewers
Multichoice had in a statement to customers on Monday February 24, titled, “Price adjustment on DStv and GOtv packages,” and signed by the CEO John Ugbe, attributed the price increase to the rising cost of doing business in Nigeria.
The Federal Competition and Consumer Protection Commission (FCCPC) has invited MultiChoice’s Chief Executive Officer for an investigative hearing on February 27, 2025, at its headquarters in Abuja.
The summon is inconnection with Multichoice’s recently announced increase in the prices of its DStv and GOtv packages, set to take effect from March 1, 2025.
In a statement by Ondaje Ijagwu, FCCPC’s Director of Corporate Affairs, the Commission warns: “If MultiChoice fails to provide a satisfactory justification for its pricing strategy or is found in violation of fair competition principles, the commission will take necessary enforcement actions, including sanctions and corrective measures.”
Ijagwu, said that the FCCPC remains committed to ensuring that businesses operate fairly and in line with Nigeria’s consumer protection laws.
Multichoice had in a statement to customers on Monday February 24, titled, “Price adjustment on DStv and GOtv packages,” and signed by the CEO John Ugbe, attributed the price increase to the rising cost of doing business in Nigeria.
The company cited factors such as currency depreciation and high inflation, which have significantly increased its operational expenses.
The new prices are as follows:
DStv Packages: • Compact: From N15,700 to N19,000 • Compact Plus: From N24,500 to N30,000 • Premium: From N29,500 to N44,500 GOtv Packages: • GOtv Value: From N3,600 to N3,900 • GOtv Plus: From N4,850 to N5,800 • GOtv Max: From N6,200 to N8,500 • GOtv Supa: From N9,600 to N11,400 • GOtv Supa Plus: From N13,500 to N16,800
Business
TIME Names Moniepoint CTO Felix Ike Among 50 Global Executives of the Year
In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.
TIME magazine has named Felix Ike, co-founder and Chief Technology Officer of Nigerian fintech Moniepoint, to its inaugural Executives of the Year: Tech and Data list.
Ike is the only executive representing an African company among the 50 leaders selected for the 2026 list.
The list, unveiled on Tuesday, September 22, recognises chief information officers, chief technology officers, chief data officers and chief product officers whose decisions are shaping how major organisations deploy technology and use data.
Moniepoint is also the only African company represented on the inaugural list.
Ike was named alongside executives from Netflix, CrowdStrike, Dell, Duolingo, AT&T, OpenAI, Anthropic, Shopify and Reddit, among others.
In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.
“The recognition follows Moniepoint’s inclusion in TIME’s 2025 list of the 100 Most Influential Companies, giving the Lagos-founded fintech another global distinction.
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Business
Djibouti, Ethiopia and Dangote to build $660 million petroleum pipeline
In Kenya, Dangote and the government are due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.
Ethiopia, Djibouti and Nigerian billionaire Aliko Dangote plan to build a $660 million refined petroleum pipeline that will connect Ethiopia and Djibouti, a spokesperson in Ethiopian Prime Minister Abiy Ahmed’s office said on Thursday.
The project will include a 120-km (75-mile) pipeline, as well as approximately 375,000 cubic metres of storage capacity at Damerjog in Djibouti and 800,000 cubic metres at Dewele in Ethiopia, the spokesperson told Reuters, adding it should become operational within 18 months.
Abiy said on his X account the project will be developed through a partnership between Ethiopian Investment Holdings and the Dangote Group, which separately is already building a $4 billion fertiliser pipeline and power plant, and a polypropylene packaging facility, in Ethiopia.
The project aims to reduce logistics costs and delays along the Ethiopia-Djibouti transport corridor, Abiy said.
Developers say the infrastructure will strengthen energy security and improve supply chain resilience for the two countries, he said.
Abiy is on a visit to Djibouti and made the announcement alongside its president, Ismail Omar Guelleh, and Dangote.
In Kenya, Dangote and the government are due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.
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