company

Nigerians React As MultiChoice Hikes Prices Of DSTV Subscriptions

FG Moves To End DSTV’s Monopoly, Multichoice Is Cheating Nigerians

July 5, 2020 9:21 am

The Federal Government has revealed plans to end the monopoly enjoyed by cable television service providers, especially Digital Satellite Television, owned by MultiChoice, a South Africa-based company.

The plan is said to include ending exclusive rights to sporting events.

Only DStv MultiChoice currently broadcasts major football competitions in Nigeria, especially the English Premier League.

The government said it had amended Nigeria’s broadcasting code to prevent DStv MultiChoice and others from monopolising their channels and contents.

The House has been probing DStv MultiChoice for allegedly cheating its Nigerian subscribers by restricting them to prepaid plans and increasing its subscription rates …

Jumia Nigeria Shuts Site To Mourn Victims Of Protests In Nigeria

Jumia Records €2.5m Profit As Consumers Hit 6.4m

May 15, 2020 1:42 pm

Jumia has recorded €2.5 million profit as consumers reach a record high of 6.4 million.

The report released by the company stated that the €2.5m gross profit was reached after the fulfillment of all expenses including taxes, levies and others, while its monetisation development increased its gross profit to €18.4m, a year-over-year increase of 21 per cent.

The Q1 report also emphasised that its operating loss decreased by 4 per cent year-over-year within the period, adding that the Gross Merchandise Volume (GMV) was €190m, a year-over-year decrease of 11 per cent compared to GMV adjusted for perimeter changes as well …

Kano Electricity Company Laments Loss Of ₦52bn Revenue

January 19, 2020 5:39 pm

The Kano state Electricity Distribution Company KEDCO did not find it easy in it’s revenue collection in 2019 as the Company is said to have lost energy worth N52 Billion Naira Supplied to it by the Regulators.

Speaking while unveiling new Customer Strategy and Company award and Empowered Conference, the Managing Director of the company Mr Jamilu Isiyaku Gwamna said KEDCO cannot meets its obligations with the serious problems facing them.

The Managing Director noted that they have introduced several measures to curtail energy loss and lack of staff commitments to Company growth as well as revenue collection, which

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Buhari Sacks Electricity Company MD, 2nd Official Fired

December 24, 2019 1:57 pm

The gale of sack under the President Muhammadu Buhari government continued on Tuesday.

The Minister of Power, Mr Sale Mamman, has ordered the immediate step-down of Dr. Marilyn Amobi, Managing Director of Nigerian Bulk Electricity Trading Company (NBET).

Mr Aaron Artimas, the Special Adviser to the Minister on Media and Communication, announced the decision in a statement in Abuja on Tuesday.

Artimas said that the decision was continuation of the reorganisation/sanitation in the Ministry of Power.

He said that the minister directed that the decision should take effect immediately.

“‘In view of this, the minister has also directed the constitution

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BAMIB, A Pencil Company To Raise Production By 18,650 Times

October 25, 2019 7:03 am

To scale up and compete favourably with foreign competitors, BAMIB Resources and Investment Company Limited is planning to raise its production of pencils to 18,650 annually, over its current level of 2.4million.

Managing Director of BAMIB, Muideen Ibrahim, who made the disclosure to the News Agency of Nigeria (NAN) in Abuja, however, appealed to the Federal Government to provide the facility and enabling environment for the company to expand its production.

The company, which started production on August 1, 2018, is the first indigenous pencil manufacturing company in Lagos State and second in the country. Currently, it produces 2.4 million …

Nokia Company Shares Plunge On Lower Earnings Forecast

October 24, 2019 10:50 am

Shares in Nokia tumbled 20 percent on Thursday after the Finnish telecommunications equipment maker cut its earnings forecast in the face of intense competition to build the latest 5G mobile networks.

While returning to profit in the third quarter, the company said it was downgrading its expectations for earnings and margins for this year and 2020 “due to margin pressure, additional 5G investments and additional digitalisation investments.”

Nokia and its rivals Ericsson of Sweden and China’s Huawei are engaged in a fierce battle to roll out 5G, with both Ericsson and Huawei upgrading their outlooks as the market appears to …