World Bank Approves $1.08 Billion Loan for Nigeria The World Bank has sanctioned a $1.08 billion loan to Nigeria aimed at enhancing education quality, bolstering household and community resilience, and improving nutrition for underserved groups. This funding responds to economic challenges intensified by the COVID-19 pandemic and supports Nigeria’s economic reforms initiated in 2023. Reuters
Nigeria Appoints Former Shell Executive to Lead State-Owned Oil Group President Bola Tinubu has appointed Bayo Ojulari, a former Shell executive, as the new head of the Nigerian National Petroleum Company (NNPC). This move aims to rejuvenate the nation’s oil sector amid challenges like large-scale theft and declining production. Reuters
DSTV Nigeria, the popular satellite TV service owned by MultiChoice, offering different subscription packages with various channels for sports, entertainment, news, and many more, is in the news again. DSTV Nigeria has increased the prices of DSTV and GOTV packages for the second year in a row, sparking backlash from subscribers, regulators, and most importantly, the Government.
(R) US’ Simone Biles the Silver medallist and (L) US’ Jordan Chiles the bronze medallist celebrate at the end of the artistic gymnastics women’s floor exercise final in Paris 2024 Olympic Games at the Bercy Arena. Source-AFP or licensors
The International Olympic Committee (IOC) has confirmed that the US gymnastic Jordan Chiles will be deposed of her bronze medal to the Romania’s Ana Barbosu. This comes after the Court of Arbitration for Sport (CAS) ruled out an appeal lunched during the match on Monday by Chiles coach which saw her overtake and lead Barbosu on the podium.
Ikeja Electric has announced propose upgrade called THE TID ROLLOVER which will impact STS prepaid meters by November 23, 2024. This suggests that on November 24, 2024, the software that powers all prepaid energy meters worldwide, including those in Nigeria, will expire. To enable continuous energy token loading throughout this changeover, all STS Pre-paid meters—meters that get a 20-digit token upon purchasing energy—must undergo an update. Energy token loading will be impossible for any meter that has not been updated before November 24, 2024.
Futhermore, the upgrade will take place when customers receive two sets of 20-digit tokens at the point of vending, effective November 1, 2023 (which is IE’s TID rollover Kick off for the TID rollover upgrade). This is alongside the regular 20 digits energy token. The first set of 20 digits will reset the old meter settings while the second set of 20-digit tokens will upgrade the meter to the new STS platform and as such enabling successful token loading.
How to Link NIN with Prepaid Metre Number
NIN validation is a prerequisite to TID rollover project. As a result, before providing any customers with the 40-digit token for TID rollover, IE will need to authenticate their NIN.
This means that it is only customers that have validated their NIN will be allowed to vend after November 1st, 2023. The customers are expected to visit https://smartkyc.ikejaelectric.com/nin to validate his or her NIN and link it to his or her meter number. Subsequently, customers can recharge their Ikeja Electric prepaid meter on servpay.ng without any additonal fee to generate 40-digits token for upgrade and 20-digit token for electric recharge.
Ensuring sustainability and comfortability of his customers, Ikeja Electric has again lunched a new product which would enable her customers remotely load their energy tokens. The following STEPS are require to complete the operation succefully:
Purchase credit token via any authorised paltform e.g servpay.ng
Ensure public power supply is available in the premises during the time of loading operation.
Click the link http://www.ikejaelectric.com/remote-token-loading/ , input meter number, click next and then enter the credit token and click to load.
Please not that this innovation is only available on MOJEC meters for now.
Multichoice the direct broadcast satellite service provider and owners of Dstv and Gotv is currently present in 50 nations in Sub-Saharan Africa. There have been several debates on fair pricing of Dstv bouquets across the continent of Africa. We have taken a look at costs of Dstv subscriptions in 2023 across 7 countries: South Africa, Nigeria, Cameron, Togo, Benin, Ghana and Gambia.
2023 Price List of Dstv Packages in Seven Countries
Dstv subscribers in Nigeria pay the least for the Pay Tv service in the Sub Saharan Africa. This is followed by the South Africans and Ghana respectively. There is a uniform rate of prices for all Dstv packages in four countries: Benin, Togo Cameron and Gambia. Although, these prices are fixed based on economic and industry conditions which are peculiar to each country. There are two key factors that determines the subscription rate; number of subscriber base and operating environment.
Subscriber Base
Nigeria having highest numbers of Dstv subscriber base in Africa could have contributed to having the lowest monthly subscription of Dstv packages. Nigeria is the most populous county in Africa. She boast of about 230million population and definitely a positive for any emerging market. It has been difficult to estimate or access actual total numbers of Dstv and Gotv subscribers in Nigeria. According to the Multichoice in its 2022 financial report, it stated that it has only 12.8 million subscribers at the end of the company year with an estimated revenue of about N292 Billion. However, according to reports, it is believed that this figures could be more as almost every household or businesses in Nigeria have access to Dstv or Gotv. Another source estimated total numbers of Dstv subscribers to be around 25million (around 10.5% of the population) in Nigeria and even growing. However, the numbers of active subscribers are also critical monthly revenue drive. The Dstv subscribers base in Benin, Togo, Gambia, Ghana and Cameron are far less than 1million hence the stable high price.
Operating Environment
Dstv bouquet prices in South Africa are the second least in Africa. Although, the subscriber base of about 8million is far lower than that of Nigeria even when it houses the Head office of Multichoice, however according to Multichoice’s most recent annual results, its Pay-TV service DStv lost South African subscribers between March 31, 2022, and March 31, 2023. Between these two dates, its subscriber base decreased by approximately 144,000, or 1 point 8 percent, from 8.016 million to 8.16 million. The decline between 2021 and 2022, from 8.177 million to 8.16 million, was significantly less, representing a loss of about 17,000 year-end subscribers.
Strength of country’s currency would affect cost of operation, recently Naira devaluation in Nigeria has lead to weakening of the country’s currency against the Dollar. Meanwhile, Multichoice Nigeria announced tarif increase in April 2023 but this was done before the floating of Naira. Further weakening of Naira could result to higher tariff increase.
Overall, high cost electricity and lack of stable power supply in Africa contribute to decline of active Dstv subscribers and shunning on the Pay Tv services. Multichoice as pioneer in the Pay-TV sector, continuously develop technology that facilitates access to information and entertainment. DStv and GOtv provide access to both local and foreign channels. These channels offer first-run movies, documentaries, kid’s programming, news, and ever demanding live sports.
MultiChoice Nigeria has lunched a brand new GOtv product to affirm their dominance in provision of digital entertainment services in the country. The use of Digital Terrestrial Television (DTT) technology in Nigeria has made available and affordable access to digital TV entertainment.
The Nigerian Communications Commission (NCC) has concluded on uniform USSD short codes and has directed all mobile network operators (MNOs) to commence implementation of the harmonised short codes (HSC) for providing services to telecom consumers in the Country.
Multichoice or StarTimes, people say the GAP is too wide but we feel its worth comparing as the later has been improving her customer base on daily bases.
Background
MultiChoice the service provider of Dstv commenced operation in Nigeria on the 6th October 1995 (28 years old)
Multichoice announced the adjustment for Gotv and Dstv subscription prices on 25th of April 2023 citing economic challenges impacting their business operations in Nigeria as the reasons for the price changes.
