More Options as FG Unveils New Pay Satellite Television to Rival DStv, GOtv, StarTimes, Others

More Options as FG Unveils New Pay Satellite Television to Rival DStv, GOtv, StarTimes, Others

  • The Nigerian government has unveiled a new satellite television in Nigeria as an alternative to existing ones
  • The secretary to the government of the federation, George Akume, launched the new pay television in Abuja
  • He commended the management of Metrodigital Limited, owners of Silver Lake Television, for giving Nigerians more options

Legit.ng's Pascal Oparada has been reporting on tech, energy, stocks, investment, and the economy for over a decade.

The Nigerian government has launched a new satellite pay television, which it said will serve as an alternative to the existing ones and meet the needs of Nigerians, giving them value for their money.

George Akume, secretary to the government of the federation (SGF), disclosed this in Abuja during the launch of an indigenous Nigerian satellite television, Silver Lake Television (SLTV) in Abuja.

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FG backs new pay tv to break monopoly
The Nigerian government unveiled a new satellite television to give Nigerians more options Credit: Jose Luis Pelaez Inc
Source: Getty Images

FG gives full backing to new pay TV

Akume noted that the television outfit's establishment aligns with Nigerians' desire to harness the potential awaiting investors.

Leadership reports that the SGF commended the management of Metrodigital Limited, the company's operators, which Akume said was a patriotic step in establishing satellite television.

He said Nigeria is on the right track to its collective recovery and prosperity, saying that Nigerians have yearned for alternatives to pay television to the existing ones.

New pay TV to break monopoly

Other reports say that the managing director of Metrodigital Limited, Ifeanyi Okafor, decried the growth of the pay television industry in Nigeria, saying it has been hampered by policies and frameworks that allowed for monopoly.

Okafor said his company was encouraged to invest because the Nigerian government had begun to take positive steps to address the issue.

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He stated that the industry in Nigeria has yet to see solid and accelerated growth since its inception, as seen in other places.

According to him, the development allowed industry players to introduce monopolistic practices to stifle innovation and growth, leading to poor quality of service delivery.

FG to introduce pay-per-tv options

The director general and chief executive officer of the Nigerian Broadcasting Commission (NBC), Charles Ebuebu, stated that the commission would consider the calls of Nigerian subscribers to introduce pay-per-view alternatives.

The development comes amid Canal+, a French firm, move to acquire MultiChoice, the parent company of DStv and GOtv.

Canal+ announced its intention to acquire additional shares of Africa's largest Pay-TV company, MultiChoice, by April 8 after securing South Africa's Takeover Regulatory Panel ruling.

The panel asked Canal+ to make a solid intention announcement because of its 35.01% shareholding in the pay-tv company, which has triggered a mandatory offer requirement.

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Canal+ agreed to the decision, securing an exemption from timing requirements and getting an extension that must exceed 25 business days from the panel.

The French company previously offered to acquire the remaining shares of MultiChoice at 105 rands per share, making a 40% premium over MultiChoice's close share price of R75 on January 31, 2024.

MultiChoice, however, rejected the offer, stating that Canal+ undervalued the company.

Nigerian billionaire launches cable television

Earlier, Legit.ng reported that Africa’s flagship 24-hour buyers and sellers TV platform, Konga TV, is set to launch after three weeks of testing.

The November 6 launch coincides with the e-commerce platform’s biggest year sale.

The TV is designed to offer deals and competitively priced products from sources, including manufacturers, distributors, merchants, and resellers, and is dedicated to providing shoppers with the best deals.

Source: Legit.ng

Authors:
Pascal Oparada avatar

Pascal Oparada (Business editor) Pascal Oparada is a Mass Communications Graduate from Yaba College of Technology with over 10 years of experience in journalism. He has worked in reputable media organizations such as Daily Independent, TheNiche newspaper, and the Nigerian Xpress. He is a 2018 PwC Media Excellence Award winner. Email:pascal.oparada@corp.legit.ng

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