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FEATURES

FEATURES

The South African pay-TV operator MultiChoice Group has lost 243,000 subscribers in Nigeria.
 
The loss happened on its Digital Satellite Television (DStv) and General Entertainment on Television (GOtv) services from April to September this year.
 
 
The company revealed these figures in its Interim Financial Results for the period ending 30 September 2024, which were released on Tuesday.
 
MultiChoice attributed this decline to Nigeria’s high inflation rate, which exceeds 30%, driven by the rising costs of food, electricity, and fuel, causing many customers to disconnect.
 
In its financial report for March 2024, MultiChoice had earlier reported an 18% subscriber loss in Nigeria.
 
The company further reported a 566,000-subscriber loss in the Rest of Africa operations over the past six months, with Zambia and Nigeria contributing the largest shares to this decline.
 
“With the Rest of Africa business having seen a decline of 803k subscribers in 2H FY24, this rate of decline slowed to 566k in 1H FY25,” stated MultiChoice.
 
The loss included 298,000 in Zambia and 243,000 in Nigeria, while other markets experienced a minor decline.
 
Extreme inflation and currency instability have negatively impacted the group’s profits, with MultiChoice Group CEO Calvo Mawela commenting, “We are making good progress in addressing the technical insolvency that resulted from non-cash accounting entries at the end of the last financial year.”
 
Mawela noted that the group’s net equity position is expected to recover by November.
 
With regard to Zambia’s losses, the company attributed them to extensive power outages caused by drought, leaving some regions with up to 23 hours of daily outages.
 
The company also cited competition from streaming services and changes in viewer preferences as pressures on its traditional pay-TV model.
 
To adapt, MultiChoice invested an additional ZAR1.6 billion in its streaming service Showmax, which reported 50% year-over-year growth.
 
Mawela added, “Showmax strategically positions the business to actively participate in the streaming revolution as it gains momentum across Africa.”
Peter Okoye aka Mr P has taken to Instagram to slam his brother, Paul Okoye for making plans to take down his latest song, 'Winning.'
 
He made the revelation on his Instagram page.
 
According to him, Paul teamed up with their older brother, Jude and are writing through their lawyers to take down his song.
 
Peter stated that he will never give up because he's the owner of the song.
 
 
Recall that the song has earned over 1m views in just three days.
 
He wrote:
 
“Call us names, call us childish; it is fine.I understand, but anyone that says anything false about me and I have evidence, then I have a right to defend myself”.
 
“Let’s stay WINNING.You claimed you wrote the song and you didn’t know any @calypso60music. Then how come @calypso60music and I are now telling you what to sing?”.
 
“JUST FOR THE RECORD GUYS! JUDE And PAUL written through a Lawyer and are doing everything possibly to take the song down from all Music Platform. But i will fight will the end. ?‍♂️”.
 
“With my full chest! @calypso60music and I wrote “WINNING“.
 
See the post below
 

Households have expressed pessimism over the rising costs of living in the country, and have projected that costs of transportation, house purchase, purchase of car/vehicle, rents and medical expenses will experience an increase over the next six months.

According to the newly released ‘Households Expectation Survey’ by the Central Bank of Nigeria, consumers said they will spend their incomes only on basic items such as food and other household items, education, transportation, electricity and medical expenses.

The CBN’s overall Consumer Confidence Index and outlook is attributed to the outlook of consumers on three key dimensions: Economic Conditions, Family Financial Situation, and Family Income.

 

A vendor counts her money by her stall at the Lokoja International Market in Lokoja on October 21, 2024. (Photo by OLYMPIA DE MAISMONT / AFP)

 

CBN said, “More consumers believe that the cost of transportation, house purchase, purchase of car/vehicle, rents and medical expenses will experience increase over the next six months in the following order.

 

Tiger nuts are sold at the market in Jibia on February 18, 2024. – Nigeria, which shares 1,600 km of border with its neighbor, was until now one of Niger’s main trading partners with $193 million in exports in 2022 according to the United Nations (electricity, tobacco, cement, etc). Since the border closure, it has even been a double whammy for the local population, who have seen food prices explode under the combined effect of new movement restrictions and galloping inflation after the Nigerian president , Bola Ahmed Tinubu, in office since May, implemented economic reforms which plunged the country into crisis. (Photo by Kola Sulaimon / AFP)

“Households anticipate spending their income on basic expenditure items like Food & Other household items, Education, Transportation, Electricity and Medical Expenses across all time periods reviewed.

“However, they do not intend to spend a substantial portion of their income on items like purchase of House, Car/vehicle for the period under review.”

The survey also indicated that households do not intend to spend their earnings on the purchase of motor vehicles and buildings & landed properties within the months under review.

 

“The Buying Condition Index1 for big-ticket items like Consumer Durables, Motor Vehicles and Buildings & Landed Properties, indicated that most respondents consider the current month unfavourable for purchasing these items. Consumers also do not think that the next three and six months are ideal periods to buy these items.”

 

A vendor counts her money as a girls looks on at the Lokoja International Market in Lokoja on October 21, 2024. (Photo by OLYMPIA DE MAISMONT / AFP)

The CBN’s survey rides on the back of a similar report by AFP, that the country’s economic crisis and soaring petrol prices have forced many Nigerians to public transportation over the use of their cars.

A case study was made of  Bolaji Emmanuel who gave up his driver and his Honda Pilot utility vehicle due to spiking living costs.

The price of petrol has risen more than fivefold since President Bola Tinubu took office in May 2023.

“I parked it at my son’s house. I use public transport now,” Emmanuel, a 72-year-old retired health worker, told AFP. “It is not convenient, but it is what the economy demands.”

Since coming to power, Tinubu has ended a costly fuel subsidy and freed up the naira currency, in reforms that government officials and analysts say will revive the economy and attract investors.

But in the short term, Nigeria has seen one of its worst crises in decades with inflation at a three-decade high.

 

Vendors wait for costumers by their fish stalls at the Lokoja International Market in Lokoja on October 21, 2024. (Photo by OLYMPIA DE MAISMONT / AFP)

A litre of petrol sold for around 195 naira just before Tinubu took office. The price rose to at least 998 naira ($0.61) per litre in Lagos and 1,030 naira in the capital, Abuja, at the beginning of October. It can go for as much as 1,300 naira elsewhere.

Inflation reached an almost three-decade high of 34.19 per cent in June. It has since slowed to 32.7 per cent in September and October.

The slump in purchasing power is piling more hardship on locals, with more than 40 per cent of the population living in poverty, according to the World Bank. That figure is expected to rise in 2024 and 2025, before it stabilises in 2026.

Car dealers in Lagos and Abuja told AFP that they had seen more and more people trading their fuel-guzzling cars and sports utility vehicles (SUVs) for more efficient vehicles to cut costs.

“People are actually selling their big cars these days,” Maji Abubakar, a car dealer in Abuja, told AFP. “The problem is that even if you put them on the market, there isn’t much demand for them.”

“It has been more than a year since I sold a car with an eight-cylinder engine, and the major reason is the price of petrol,” he added.

 

Internally displaced persons from the flood queue at St. Luke school used as a shelter in Lokoja on October 22, 2024. – Human-caused climate change worsened floods that have killed hundreds of people and displaced millions in Cameroon, Chad, Niger, Nigeria and Sudan this year, according to a study published on October 23, 2024. (Photo by OLYMPIA DE MAISMONT / AFP)

The market for new cars has dropped by 10 to 14 per cent in the last year, according Kunle Jaiyesinmi, deputy director at the Lagos-based CFAO Group, which specialises in automobile distribution.

“An SUV that sold for 40 to 45 million naira ($24,000 to $27,000) about two years ago, for now, if you want to negotiate the price, you see that it is within the range of 95 or 100 million ($57,000 to $60,000),” Jaiyesinmi told AFP.

Former Delta State governor, Ifeanyi Okowa has broken his silence after being arrested by the Economic and Financial Crimes Commission, EFCC for alleged fraud.
 
According to Okowa, EFCC has not established any fraudulent case against him.
 
 
Okowa said he willingly reported to the EFCC office in Port Harcourt, Rivers State to clear himself of any fraudulent act.
 
The Peoples Democratic Party chieftain said he has nothing to do with the alleged 13 percent derivation fund diversion.
 
He issued the clarification through his media aide, Mr. Olisa Ifeajika in a statement.
 
The statement reads partly: “The allegation that the former governor allegedly diverted N1.3 trillion oil derivation funds is as ludicrous as it is outlandish.
 
“This is just a rehash of the same spurious allegations that some malicious, myopic, vindictive, and prejudiced persons concocted while Okowa was still in office.
 
“The first point that needs to be made is that the EFCC has not established any case against Dr. Okowa.
 
“As is customary with the anti-graft agency, the former governor was invited to answer questions relating to some petitions that were filed against him by some disgruntled elements.
 
“Upon his return from vacation, and as a man with a clear conscience, Dr. Okowa proceeded to the EFCC office in Port Harcourt as requested.
 
“The substance of the petitions was that Dr. Okowa allegedly corruptly enriched himself and used state resources to acquire 80 percent stake in Premium Trust Bank.
 
“He was also alleged to have diverted state resources to build housing estates in Asaba and Abuja and two hotels.”

The Kano State Debt Management Office has said that it serviced N63.5 billion in both foreign and domestic debts incurred during the administration of the immediate past governor, Abdullahi Umar Ganduje.

Dr. Hamisu Sadi Ali, Director General of the Kano State Debt Management Office, made this disclosure while addressing the media on the state’s debt profile.

Dr. Ali noted that the current administration, under Governor Abba Kabir Yusuf, has not incurred any new debt since coming into office on May 29, 2023.

 

"Since the inception of Alhaji Abba Kabir Yusuf’s NNPP administration from 29th May 2023 to date, no single penny was signed, contracted or received by the Kano State Government within or outside the country as a loan,” he affirmed.

In an effort to reduce Kano’s debt burden, the current government has paid N3.49 billion in external debt and N60 billion in domestic debt, totalling N63.5 billion for the first and second quarters of 2024. With these payments, the state’s total outstanding debt has been reduced to N127.8 billion.

Dr. Ali highlighted that the Kano State Public Debt Management Law 2021 mandates that the Debt Management Office manages all borrowing on behalf of the state government. He added that former Governor Ganduje’s administration had signed multiple international and domestic loan agreements, including a 64 million euro agreement with the French Development Agency in July 2018 for the Third National Urban Water Sector Reform Project.

The debt portfolio includes projects funded by foreign loans, such as the Multi-state Road Project, Malaria Control Booster Project, and the Third National Fadama Project. Dr. Ali clarified that, historically, Kano State had not borrowed from any domestic lenders, including commercial banks, until Ganduje’s administration, which obtained six different loans from various banks, such as a N10 billion Infrastructure Loan from Access Bank and a N20 billion Salary Bail-out from Fidelity Bank.

With this substantial debt repayment, the current administration aims to reduce Kano’s financial burden and improve the state’s economic outlook.

Activist politician, Omoyele Sowore has called out Edo North Senator, Adams Oshiomhole in a recent podcast.
 
Sowore revealed in the podcast that Oshiomhole had a deal with former military Head of State, Ibrahim Badamasi Babangida to carry out the first fuel price increment in Nigeria in 1992.
 
 
Sowore also claimed that Oshiomhole secretly met former President Olusegun Obasanjo and asked him to increase the price of fuel.
 
He disclosed this while featuring on a podcast held by Glitch Africa Studios.
 
Sowore said, “Oshiomhole was never an activist. You can check this out anywhere. In 1992, Oshiomhole and Pascal Bafial, a former NLC President, had a deal with Babangida to increase fuel price and supported it.
 
“I did a press conference where we named him as an enemy of students because of what he did when they first started the whole fuel price increase, Oshiomhole was part of it.”
 
Sowore also claimed that during the “time of former President Olusegun Obasanjo, Oshiomhole would meet Obasanjo and ask him to increase the fuel price.
 
“We will fight small and you will bring it back to where it is supposed to be. You are happy, I’m happy. That was what Oshiomhole was doing.
 
“He can challenge me that I said this. In fact, when Abiola’s election was annulled, part of the places the students invaded was the NLC secretariat in Yaba because they were in bed with the military, Pascal Bafial and Oshiomhole were the labour leaders.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced a planned reduction of ₦50 per litre in the price of Premium Motor Spirit (Petrol) for consumers.

This development follows a new agreement between IPMAN and Dangote Refinery, as confirmed by IPMAN’s National President, Abubakar Maigandi, during an interview with Channels Television on Tuesday.

Maigandi, while speaking on Channels TV, disclosed that Dangote Refinery has set a price template of ₦940 per litre for depot purchases and ₦990 per litre for truck purchases for IPMAN members, a move expected to bring down petrol prices across the country.

Maigandi explained that with this arrangement, their members who currently sell petrol between ₦1,150 and ₦1,200 per litre will reduce the price by ₦50, depending on the location.

The price reduction is anticipated to provide relief for Nigerian consumers, who have faced fluctuating fuel prices.

He said, “Presently, we have been given two different arrangements on how to buy fuel from the refinery.

“There is the one that we can load the vessels and carry to our various depots at the rate of ₦940 per litre. Then for the depots, it is at the rate of ₦990 per litre.

“For instance, the current price in Maiduguri now is N1,200 per litre. So with these current changes, it may likely reduce to ₦1,150, which is a reduction of ₦50. So that’s ₦1,150. It may even be below that.”

Recall that on Monday, IPMAN announced that Dangote Refinery agreed to sell petrol to its members directly, which brought an end to Nigerian National Petroleum Company, which is the sole buyer of Dangote Petrol.

The development comes after Dangote Refinery announced that its gasoline is sold at ₦960 and ₦990 per litre for ships and trucks.

Last modified on Wednesday, 13 November 2024 09:38

The Nigerian military has identified Lakurawa as a relatively new terror group infiltrating Sokoto and Kebbi states via the Niger Republic after the recent coup in Nigeria’s neighboring country.

However, investigations by Premium Times  reveal that Lakurawa, an al-Qaeda-linked organization, has been active since before last year’s Niger coup.

Last week Thursday, the Nigerian Defence Headquarters acknowledged Lakurawa as a fresh threat worsening insecurity in the North-west.

“Troops are confronted with a new terrorist sect in the North-west,” said Edward Buba, a military spokesperson, at a press briefing. “This sect is known as Lukawaras, the Lukawaras are affiliated to terrorists in the Sahel, particularly from Mali and Niger Republic.”

Buba, a major general, also claimed that Lakurawa emerged from Mali and Niger following the breakdown of military cooperation between Niger and Nigeria after last year’s coup.

Following the military’s recent classification of Lakurawa as a new threat, multiple narratives have emerged on social media about the group. While some link them to the Islamic State in the Greater Sahel (ISGS), past research contradicts this affiliation.

A 2022 study by Murtala Rufa’i, James Barnett, and Abdulaziz Abdulaziz notes that Lakurawa militants reject the Boko Haram label, preferring terms like Mujahideen or Ansaru—associating them with al-Qaeda in the Islamic Maghreb (AQIM) in Nigeria.

Similar to Ansaru, the Lakurawa group pledges to protect local communities but often targets military sites and civilians perceived as threats. Ansaru operatives, potentially sharing Lakurawa’s ideology, are thought to operate in parts of Kaduna, such as Birnin Gwari, indicating a spread of jihadist influence into the troubled North-west region.

The study by Rufa’i and colleagues links Lakurawa to Jama’at Nusrat al-Islam wal-Muslimin (JNIM), an al-Qaeda branch formed in Mali in 2017 by merging four extremist groups from the region.

Rufa’i’s 2021 research details how Lakurawa was initially brought into Sokoto State in 2017 by local leaders from Gudu and Tangaza LGAs to help control escalating bandit threats from Zamfara State.

“Zamfarawa bandits crossed from their strongholds in Zamfara to attack locals in various communities in Tangaza and Gudu LGAs, as well as eastern Sokoto,” Rufa’i notes. He adds, “The Islamic sect [Lakurawa] began with fewer than 50 local youth in 2017 but has since grown to over 200, mainly young men aged 18–35.”

A traditional leader from Balle, a Gudu LGA village, described the Lakurawa as Malians who speak Arabic and Fulfulde, stating that they were initially invited to secure local communities.

“The District Head of Balle in Gudu Local Government, together with the District Head of Gongono in Tangaza, collaborated with Alhaji Bello Wamakko, former Miyetti Allah Cattle Breeders Association chairman, to hire Lakurawa from Mali to counter Zamfarawa bandits,” the leader shared in a 2021 interview.

Community leaders who enlisted Lakurawa contributed to their expansion by providing cash, cattle, logistical support, and weaponry for their efforts, according to Magajin Balle, as documented by Rufa’i.

In 2018, when reports surfaced of armed Lakurawa presence, local police dismissed it, attributing their arrival to access to water for herding.

Cordelia Nwawe, then Sokoto State police spokesperson, reported sightings of the group in forested areas of Gudu LGA and nearby villages but downplayed their intentions.

Lakurawa’s violent turn began when its members killed a Tangaza district leader who had initially supported them, claiming the leader’s son held funds belonging to the group.

The group soon began imposing their ideology, collecting “Zakat” from herders and policing local activities, even punishing music and dancing.

Escalating attacks on military bases in border areas prompted joint military action by Nigerian and Nigerien forces in late 2018, briefly curtailing the Lakurawa’s activities, though locals continued to report sightings.

Traditional and community leaders who had once supported Lakurawa ultimately turned against the group as their actions diverged from their initial purpose. Despite providing intelligence to authorities, limited media attention on these efforts impeded broader public awareness.

Nigerian authorities’ inability to fully address the Lakurawa threat allowed the group to re-emerge in 2021, this time aligned with bandits and some Fulani communities in opposition to the outlawed Yan Sakai vigilante group.

The recent coup in Niger and the breakdown of joint military operations between Nigerian and Nigerien forces appear to have emboldened Lakurawa further.

Last modified on Wednesday, 13 November 2024 09:40

The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, on Tuesday, attributed the country’s epileptic power supply to corruption within the power sector.

He said the commission initiated a probe into the sector, adding that what it uncovered during its investigations would make Nigerians shed tears.

Speaking during the visit of the House Committee on Anti-Corruption and Financial Crimes to the commission’s headquarters in Abuja, Olukoyede lamented that contractors awarded projects to supply electrical equipment often opted for substandard materials.

He said this practice was a major cause of frequent equipment failures, outages, and grid collapses.

 

Olukoyede said, “As I am talking to you now, we are grappling with electricity. If you see some of the investigations we are carrying out within the power sector, you will shed tears.

“People who were awarded contracts to supply electricity equipment, instead of using what they call 9.0 guage, they will buy 5.0.

“So, every time you see the thing tripping off, gets burnt, and all of that, It’s part of our problems.”

 

He also stated that during its investigations, the commission discovered that in the last 20 years, capital project implementation and execution in the country were not up to 20 per cent.

He said the country could not achieve infrastructural or other forms of growth under such conditions.

“We discovered that in the last 15 to 20 years, we have not done up to 20 per cent of our capital project implementation and execution.

“And if we don’t do that, how do you want to have infrastructural development? How do you want to grow as a nation?

“So our mandate this year is to work with that directorate and with the National Assembly to see if we can meet up to 50 per cent of execution of our capital project for the year.

 

“If we do 50 per cent, we will be fine as a nation. The lack of implementation of this capital project, capital budget, is one of our major problems in Nigeria.

“If we can tackle that effectively, we will make progress as a nation. So we are doing everything to see how we can achieve that with your support.”

The anti-graft boss said the commission received over 17,000 petitions, adding that over 20,000 cases were currently under investigation.

He said, “We have several cases filed in court, apart from the conviction, running to thousands.

“In the last year, we have received over 17,000 petitions in EFCC. And right now, as I’m talking to you, we are investigating over 20,000 cases.

“Between last October and now, we have opened over 4,800 new cases. And what is our staff spread? We are less than 5,000 and now, with the additional responsibility of over 700 MDAs, 36 states, 774 local governments, and all of that.”

The Chairman of the committee, Obinna Onwusibe, called on the EFCC to collaborate with the judiciary to expedite the trials of suspects and reduce the number of inmates awaiting trial.

He said, “At this point, let me add that recently, on oversight visits to the maximum and minimum correctional centres in Kirikiri, Lagos State, numerous suspects have been awaiting trial for over one year, and yet we are all acquainted with the saying that justice delayed is justice denied.

“It is on this note that we call on the EFCC, the Attorney General of the Federation, and the judiciary to improve and ensure that the administration of criminal justice works in collaboration for an effective and efficient system that will bring about justice delivery to victims and society.”

He also urged the EFCC to ensure transparency and accountability in its operation.

“The negative maxim being peddled in certain quarters is that the agency is often being used to settle political scores, and this must be corrected by the EFCC,” he said.

The Ondo State Police Command, on Tuesday, said it had arrested one prophetess, Mrs Folashade Adekola, over the death of a woman, Jumoke Adesuwa and her newborn baby inside the church.

Our correspondent gathered on Tuesday that the deceased bled to death from complications after childbirth inside the suspect’s church located in the Oke-Aro area of Akure, the state capital. The baby was said to have also died immediately.

It was also learnt that the suspect was arrested by the men of the command after the deceased’s brother reported the matter at the police station.

The state Police Public Relations Officer, Mrs Funmilayo Odunlami, who confirmed the incident, said the prophetess was arrested and taken to the State Criminal Investigation and Intelligence Department for further investigation.

 

“The case was reported by the deceased’s brother, that the sister died after childbirth in the church and the prophetess is already in custody. Investigations are still ongoing,” the PPRO said.

 

A source in the family who spoke to PUNCH Metro on the condition of anonymity, because he was not permitted to speak with the media, narrated that someone from the church called the family to inform the deceased’s husband that his wife had been delivered of a baby. The deceased’s husband called a family member and both rushed to the church.

He said, “When we got there, they were told that the baby died after childbirth but that the mother was alive. On sighting the deceased, we saw her in a pool of blood, bleeding profusely. So, we rushed her to a nearby hospital.

 

“Due to her condition, she was rejected at three hospitals and she died in the process of reviving her in the last hospital that admitted her. To our surprise, we got to the church to collect the baby’s remains and found the corpse in a room. The condition of the room was very worrisome as it did not look like a delivery room.

“We approached the Oke-Aro Police Station in Akure to report the case which led to the arrest of the prophetess in charge. The remains of the woman have been deposited at the mortuary.”