The Federal High Court in Abuja has restrained the Federal Competition and Consumer Protection Commission (FCCPC) from taking any administrative action against MultiChoice Nigeria Limited following its recent price hikes on DStv and GOtv packages. Ju… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader Court halts FCCPC action against MultiChoice over DStv, GOtv price hike By sbinsights on March 12, 2025 The Federal High Court in Abuja has restrained the Federal Competition and Consumer Protection Commission (FCCPC) from taking any administrative action against MultiChoice Nigeria Limited following its recent price hikes on DStv and GOtv packages. Justice James Omotosho issued the order on Wednesday in an ex parte motion filed by MultiChoice's lawyer, Moyosore Onibanjo (SAN), in a suit marked FHC/ABJ/CS/379/2025 against the FCCPC. FCCPC's Concerns Over Price Hike The FCCPC had summoned MultiChoice Nigeria's CEO for an investigative hearing on February 27, 2025, citing concerns over: Frequent price increases by the pay-TV operator Possible abuse of market dominance Anti-competitive practices in the industry The regulatory body warned that failure to justify the price adjustment or comply with fair market principles could result in sanctions against MultiChoice. Read also MultiChoice Challenges FCCPC's Authority In its court filing, MultiChoice argued that Nigeria operates a free-market economy, where businesses have the right to set prices without government approval. MultiChoice, through its lawyer Onibanjo, sought a court order restraining the FCCPC from: Sanctioning or penalizing the company over its price increase Issuing directives or taking actions that could disrupt its business operations Pursuing prosecution over the matter Onibanjo contended that the FCCPC Act does not empower the Commission to regulate prices, adding that MultiChoice had notified customers about the price adjustment through a letter dated February 21, 2025. However, the FCCPC, in its February 27 directive, ordered MultiChoice to suspend the planned price increase. Court Ruling and Next Steps After reviewing the application, Justice Omotosho ruled that the FCCPC must halt any administrative actions against MultiChoice pending the determination of the case. The judge also ordered an accelerated hearing and fixed March 27, 2025, for further proceedings. Details of MultiChoice's Price Adjustments Despite the legal battle, MultiChoice proceeded with its price hike, which took effect on March 1, 2025. The new pricing structure includes: DStv Compact: ₦15,700 → ₦19,000 (25% increase) DStv Compact Plus: ₦25,000 → ₦30,000 (20% increase) DStv Premium: ₦37,000 → ₦44,500 (20% increase) GOtv Supa Plus: ₦15,700 → ₦16,800 (7% increase) FCCPC's Legal Action Against MultiChoice In response to the price hikes, the FCCPC filed a lawsuit against MultiChoice Nigeria at the Lagos High Court, alleging violations of regulatory directives and obstruction of an ongoing inquiry. The outcome of the legal battle could set a significant precedent for pricing regulations in Nigeria's pay-TV industry and consumer protection measures in a free-market economy.

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Lagos State has solidified its status as one of Africa's leading economic hubs, with its Gross Domestic Product (GDP) reaching an impressive $259.75 billion based on purchasing power parity (PPP). This milestone places Lagos as the second-largest … Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader Lagos emerges as Africa's second-largest economy with $259 billion GDP By sbinsights on March 12, 2025 Lagos State has solidified its status as one of Africa's leading economic hubs, with its Gross Domestic Product (GDP) reaching an impressive $259.75 billion based on purchasing power parity (PPP). This milestone places Lagos as the second-largest city economy on the continent, trailing only Cairo, Egypt. The announcement was made during the official launch of the Lagos Economic Development Update (LEDU) 2025 on Wednesday, which highlighted the state's economic growth trajectory and future projections. Economic Growth and Resilience Lagos recorded substantial economic growth in the first half of 2024, expanding to N27.38 trillion, a significant jump from N19.65 trillion in 2023. This surge underscores the resilience of Nigeria's commercial nerve center despite economic headwinds and ongoing structural reforms. However, the report noted that Lagos' tax-to-GDP ratio remains low at 2.3%, indicating the need for improved revenue generation strategies. Key 2025 Economic Projections Looking ahead, the Lagos State Government has set ambitious targets for the 2025 fiscal year, forecasting sustained economic expansion. Key projections include: GDP Growth: Expected to rise from N54.77 trillion in 2024 to N66.47 trillion in 2025, with real GDP growth estimated between 5.02% and 6.49%. Sectoral Expansion: The service sector will maintain its dominance, with anticipated improvements in agriculture and industrial production. Economic stability is expected to benefit from lower petrol prices and a more stable naira-dollar exchange rate. Inflation Outlook: Headline inflation is projected at 34.2%, while food inflation is forecasted to reach 34.9%. Revenue Generation: The government aims to generate N2.79 trillion in revenue, emphasizing fiscal discipline and diversification of income sources. Investment Opportunities and Challenges With its expanding economy and strategic reforms, Lagos remains a prime destination for investors in infrastructure, technology, real estate, and manufacturing. However, experts caution that challenges such as high inflation, forex volatility, and infrastructure gaps must be addressed to sustain long-term growth. As Lagos continues to evolve into a global economic powerhouse, the state's leadership remains committed to driving policies that enhance business growth, attract investment, and improve the quality of life for residents.

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The Minister of Livestock Development, Idi Maiha, has unveiled plans to boost Nigeria's leather industry by promoting local production of shoes, belts, and bags—an industry with the potential to generate N23 billion and create 700,000 jobs.Speaking … Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader Nigeria's leather industry can generate N23bn, employ 700,000 people – Minister By sbinsights on March 12, 2025 The Minister of Livestock Development, Idi Maiha, has unveiled plans to boost Nigeria's leather industry by promoting local production of shoes, belts, and bags—an industry with the potential to generate N23 billion and create 700,000 jobs. Speaking on Channels Television on Wednesday, Maiha emphasized the need for centralized abattoirs and skin collection centers to optimize leather production. He noted that Nigeria loses billions annually due to the consumption of hides and skins as food, which could otherwise be processed into high-value leather products. "If I tell you now, we are eating shoes, bags, and belts, someone might wonder why. But that's because we consume hides and skins that should be used for leather," he explained. The minister also warned against the harmful practice of using kerosene to burn animal skins, stressing that unsafe processing methods pose serious health risks while also damaging the industry's raw materials. Read also Nigeria's leather industry can generate N23bn, employ 700,000 people – Minister Global markets face volatility amid US tariff hikes, economic uncertainty Governor Zulum approves N1 billion grants for MSMEs in Borno Nigeria secures $950 million for renewable energy expansion under DARES FG approves establishment of renewable asset management company Boosting Local Manufacturing Maiha highlighted the success of Nigeria's emerging footwear industry, particularly in Maiduguri and Aba, where local factories now produce quality shoes—including jungle boots for the military. "Most of the shoes we import today can be manufactured here," he stated, urging Nigerians to patronize local brands instead of favoring international labels. He further assured that the government is committed to engaging with business chambers and investing in livestock infrastructure to strengthen the sector. With increased investment and policy reforms, Nigeria's leather industry could become a major driver of economic growth, reducing imports and creating a globally competitive market for locally made products.

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