Broadcasting
Nigeria’s DSO: Fresh Missteps Loom

By Dominic Omuedi
Heartwarming, it was for me, to read reports of the press conference addressed on Tuesday by Alhaji Lai Mohammed, Minister of Information and Culture, on the country’s Digital Switchover (DSO) process, which seemed to have been interred under the rubble of poor conception, mismanagement and corruption.

The cheer brought by the government’s announced intention to reboot the process, positive as appears, has shown nothing beyond the fact that the DSO process is not completely forgotten. No more. No less.
At the press conference, Mohammed unveiled a 13-member Ministerial Task Force to take charge of the DSO process which, for years, has proceeded in staccato fashion and left the country trailing many others, including in Africa.
Members of the task force, to be chaired by Mohammed, include Armstrong Idachaba, Joe Mutah of the Federal Ministry of Information and Culture (Secretary), Dr Armstrong Idachaba, acting Director-General of the National Broadcasting Commission (NBC); Olusegun Yakubu of Pinnacle Communications and Toyin Zubair, promoter of the defunct HiTV and now of In view.
At the press conference, Mohammed announced that the Federal Executive Council (FEC) has approved outstanding payments to key DSO stakeholders, a development he said will remove all the hindrances to the entire process in the past three years. The funding source for the DSO, broadcast industry experts reckon, is from the N34billion paid by MTN for broadcast frequency.
“With the payment approval by FEC, and with 31 states to cover, we have our work cut out for us. We have no more excuses for not rapidly rolling out the DSO across the country, hence my decision to set up a 13-member Ministerial Task Force, which I will personally chair, to take charge of the rollout,” the minister said excitedly.
He added that the government took a decision last year, on account of the financial difficulties induced by Covid-19, that the DSO process will be private sector-driven, effectively cancelling the plan to provide subsidies for Set-Top-Boxes (STBs) or signal carriage.
What followed, typical of pronouncements on the DSO, was a raft of big-sounding and dreamy projections. The DSO, said the minister, will deliver over one million jobs in the next three years, with 50,000 of such coming via local production of 24 million STBs and Smart TVs.
“Not even 20 Set-Top-Box manufacturers can comfortably produce the initial requirements to feed the market. Furthermore, our position in West Africa, coupled with our size, makes us the definite source of these products for the whole sub-region,” he said.
Television production, he said, will create 200,000 jobs, as digitization will lead to “180 state channels, 30 regional channels and at least 10 national channels”. Digitization, he added, will boost local content propagation and draw many more Nigerians into the business. This, he said will create 400,000 jobs in film production and nudge Nollywood towards subscription Video-On-Demand on STBs and online, thereby providing cheaper distribution means, helping producers to make more money.
The envisaged boom in production, added the minister, will create an additional 200,000 jobs via increase in foreign demand for fully indigenous content and fetch the country in excess of $100 million.
“I have no doubt in my mind that a successful DSO is not just a job spinner, creating over one million jobs in three years, but also a money spinner,” said the minister.
Anyone familiar with the country’s DSO journey will not just doubt the minister’s projections, but dismiss them as drunkenly optimistic, especially given how squalidly it has been managed.
Undoubtedly, poor funding has inhibited the process. But more than that, squalid leadership and ill-conceived strategy are greater inhibitors. For instance, despite the pilot project, with the last roll-out three years ago in Osogbo, Osun State, there is no sustainable Digital Terrestrial Television (DTT) coverage even in Plateau, Enugu, Osun, Kwara, and Kaduna states as well as the Federal Capital Territory, which were pilot states. Free Tv signals limited to state capitals.
This implies inhabitants outside state capitals are excluded and shows that the broadcast signal carriers selected for the DSO have inadequate technical and financial capacity for effective DTT coverage, the first step in the DSO.
The minister’s near-orgasmic projections on STBs, which convert analogue signals to digital, ignore the fact that the country, for strange reasons, chose a process that builds conditional access (CA) on top of the STBs instead of a standard affordable STB process. This means that the STBs process adopted for Nigeria’s for DSO will be out of the financial reach of most Nigerians. The standard STBs for DSO are supposed to receive free-to-air signal and affordable. Those with conditional access built onto them are similar to pay television STBs and are much pricier. Inview, the company providing the TV system/ conditional access, has already been paid N1billion for running the TV system only in Abuja and Jos.
The company and others involved in the process are understood to have filed invoices for additional sums.
The cancellation of subsidy for STBs, forced on the government by the inclement economic climate, is certain to ensure that the prices of the boxes will stretch users to breaking point. Prior to the devaluation of the naira, for instance, the recommended price STB ranged between N20,000 and N30,000. The boxes used in the roll-out at pilot locations were all imported, with the Federal Government giving the alleged STB manufacturers guarantees to fund the importation to the tune of N5billion.
The inordinately ambitious projection that Nigeria will, within three years, be heaving with locally manufactured STBs is something akin to a boxer’s boast-full of sound and fury.
According to experts, there are only three companies claiming to have STB assembly lines in the country and not a single one is manufacturing.
How the few companies, even operating at full capacity, can assemble 24 million STBs over five years has something that has eluded experts, who reckon that it will take a minimum of five years to meet the demand of 24million users- if all the companies function at full capacity. Importantly, not one of those claiming to have assembly/manufacturing capacities are in operation, meaning that they are engaged in no economic activities and employ nobody, thereby bilking the country through government contracts.
But they are not alone and are actually encouraged by the disposition of government officials, who view funding for the DSO process as “serve yourself,” the local parlance for buffet.
In a 21 March 2019 report published by The Guardian, experts interviewed identified corruption as the main obstacle to the country’s transition from analogue to digital broadcasting. A Director-General of the National Broadcasting Commission (NBC) is on suspension from office and facing prosecution by the Independent and Corrupt Practices Commission (ICPC) over allegedly fraudulent release of N2.5billion to a private company. The matter, which is before the Federal High Court, Abuja, relates to the 2016 release of N10 billion to the Ministry of Information and Culture for the DSO.
The ICPC is accusing the suspended D-G of using his position to confer a corrupt advantage on his associates in two private companies.
The suspended D-G is alleged to have asked the Information Minister to approve payment of N2.5 billion to Pinnacle Communications Limited, a private signal distribution operator, as “seed grant” for the DSO for which it was ineligible. Mohammed, who was listed as a witness in the trial, claimed he approved the payment based on expert advice given by the suspended D-G. The DSO guidelines, provided by a Federal Government Whitepaper, directed that the process be exclusively managed by companies affiliated to the Federal Government. Based on the guidelines, two companies were nominated for the purpose. One of these was ITS, an affiliate to the Nigerian Television Authority (NTA), which has no infrastructure of its own and is relying on the one owned by another private operator. It got also go N1.7billion as seed grant.
The assumption that our wonky DSO system will boost local content production because it will serve as distribution platform is also one without basis, as International Telecommunications Union (ITU) DSO policy is simply transiting free-to-air analogue signals to digital signal. Thus, Nigeria’s system, with its in-built conditional access system, will rob Nigerians of the constitutionally-guaranteed right to receive information in view of the fact that most free-to-air broadcaster are government-owned. In effect, 90 million Nigerians already living in poverty will be required to buy STBs, movies online and unlimited internet service to access such.
The claim that Nollywood output will benefit from better distribution is also a ruse. Nigerians are already using smart devices through which they access Nigerian creative content online.
Many have also blamed ministerial interference for the corrugated DSO process, arguing that worldwide, the DSO process is driven by the regulator and the industry.
What I have observed since 2015 is a lot of ministerial interference which, in addition to other factors, will leave the country panting to achieve DTT coverage by the time the rest of the world would have moved on a more modern platform, the OTT
-Omuedi, a retired broadcast engineer, writes from Ughelli
Broadcasting
DStv Offers Instant Package Upgrade for Customers from January to February

DStv has launched a new campaign tagged “We Got You”, aimed at giving customers more entertainment value at the start of the year without additional cost.

DStv
The campaign, which runs from January 1 to February 28, 2026, allows subscribers who pay for their current package in full to enjoy an automatic upgrade to the next DStv package.
The initiative is designed to ease the pressure that often comes with January, a period marked by school resumption, tighter budgets and increased household demands.
Through the offer, DStv is rewarding customer loyalty by unlocking more channels, stories, sports, children’s content, local productions and international programmes at no extra charge.
Speaking on the campaign, Tope Oshunkeye, Executive Head of Marketing, West Africa, MultiChoice, said, “We want our customers to step into the year feeling valued.
“When you buy your package, we upgrade you because you deserve more. This is our way of bringing extra excitement, choice and convenience into your home.”
According to DStv, the offer is open to existing subscribers who remain active during the promotion period, customers who reconnect their decoders, and new subscribers who join between January 1 and February 28.
Under the offer, subscribers who pay for DStv Yanga will be upgraded to DStv Confam, Confam customers will receive DStv Compact, Compact subscribers will be upgraded to Compact Plus, while Compact Plus customers will enjoy access to DStv Premium.
The upgrade applies only to decoder viewing, and subscribers will revert to their original packages at the end of the promotion period.
Broadcasting
FIRS Transforms into NRS as Nigeria Ushers in New Tax Era

Federal Inland Revenue Service (FIRS) has officially given way to the Nigeria Revenue Service (NRS), signalling a pivotal shift in the country’s revenue administration framework as the Nigeria Revenue Service Establishment Act 2025 takes full effect from January 1, 2026.

NRS
President Bola Ahmed Tinubu signed the landmark legislation in June 2025, alongside a comprehensive package of tax reforms designed to streamline compliance, expand the tax net and bolster federal revenue for critical infrastructure and social services.
At a colourful ceremony in Abuja on December 30, 2025, NRS Executive Chairman, Dr Zacch Adedeji, unveiled the agency’s new logo and corporate identity, describing it as a beacon of modernisation and efficiency.
Adedeji, who doubles as the pioneer helmsman, stated that the fresh branding embodies “a renewed commitment to a unified, service-driven revenue system” in line with global standards and Nigeria’s economic aspirations.
“The new identity underscores continuity in mandate, enhanced capacity and proactive taxpayer support, fostering trust and shared prosperity,” he added, according to a statement by his Special Adviser on Media, Mr Dare Adekanmbi.
The NRS emergence caps decades of advocacy for tax overhaul, repealing the FIRS (Establishment) Act 2007 and vesting the new body with broader powers for revenue assessment, collection and accountability.
Judicial hurdles were cleared when an FCT High Court dismissed suits seeking to stall implementation, paving the way for the four key Acts — Nigeria Revenue Service, Tax Administration, Nigeria Tax and Joint Revenue Board — to roll out seamlessly.
Despite pockets of controversy, including claims of bill alterations, the Budget Office affirmed the laws’ authenticity, prioritising fiscal stability and investor confidence.
For ordinary Nigerians and enterprises, the NRS promises simplified processes, digital innovations and reduced red tape to ease compliance burdens while curbing evasion.
Technical Assistant on Broadcast Media to the Chairman, Mrs Aderonke Atoyebi, reassured that core values of integrity, fairness and professionalism persist, with staff nationwide driving the transition.
Industry watchers anticipate a surge in non-oil revenue, crucial as Nigeria navigates global headwinds, with the NRS positioned to elevate the tax-to-GDP ratio through transparent engagement.
Broadcasting
How to Use the Correlation of Gold with Other Trading Assets in the Forex Market

Gold remains one of the most powerful commodities in the global financial architecture. It is widely recognized that, for traders in Nigeria, specifically, currency pressures, inflation expectations, and shifts in global liquidity make up the macro environment more often than not; hence, understanding the correlation of gold with key Forex assets is more of an economic insight than a trading tactic.

The correlation between gold and currencies, equities, bonds, and even energy markets provides a broader framework for interpreting global risk sentiment. A growing number of Nigerian investors use this correlation to hedge against inflation, read capital-flow trends, and adjust trading strategies across major currency pairs.
Why Gold Matters in Today’s Macro Environment
This can be explained by looking at the larger picture and how global factors either positively or negatively impact the price of gold: spiraling inflation, geopolitical tension, tightening by central banks, and the flight-to-safety dynamic that heightens in moments of market stress. African traders, especially those active with international brokers such as JustMarkets, are very sensitive to how gold performs not only as a commodity but also as a macro indicator.
Indeed, the strongest correlations of gold are more often found with the US dollar, major bond markets, equity indices, and energy instruments in periods of high geopolitical risk. Each one of these offers a different angle for Nigerian traders to approach macroeconomic changes.
Gold and US Dollar: The Most Watched Correlation
The inverse correlation between XAU and the USD remains one of the bedrock relationships in global finance. It usually weighs on gold because a stronger dollar raises the opportunity cost of holding the metal. Conversely, the opposite has occurred when the market has priced in rate cuts, rising inflation, or policy uncertainty.
This relationship provides Forex traders in Nigeria with a macro perspective:
USD strength; pressure on gold; bullish signals for USD-pairs like USD/JPY or USD/CHF
USD weakness; appreciation of gold; potential strengthening of the non-USD majors
This dynamic is often emphasized by platforms such as JustMarkets in their markets analytics, allowing traders to match the technical setup with real policy shifts from the Federal Reserve.
Gold and Bond Yields: A Window into Global Risk Appetite
Gold is highly sensitive to real interest rates. When US real yields fell, it sent gold higher because investors saw it as a hedge against inflation and thus a haven. Yet higher yields tend to dampen demand for precious metals.
To traders, this correlation is a reason for short-run volatility around announcements like:
US CPI
FOMC decisions
Results of Treasury auctions
In countries like Nigeria, when domestic inflation is high and Naira pressure amplifies sensitivity to global risk, the movement of gold often proves an early indicator of how capital might rotate between safe havens and risk assets worldwide.
Gold and Equity Markets: The Fear Gauge
While geopolitical tensions or recession fears tend to deflate equity markets, they strengthen gold. This negative relationship is considered helpful for traders looking to deduce spikes in volatility and risk-off flows. Examples include:
Sharp US30 or NAS100 declines coupled with XAU/USD rallies
Broad-based sell-offs driven by political uncertainty or commodity shocks
This dynamic helps explain to the Nigerian analysts focused on policy and political economy how global risk events transmit to the local market through capital-flow sentiment.
Gold and Energy: Transmission via the Inflation Channels
Although gold and oil are not directly correlated, both respond to inflation expectations. Surging oil prices can fuel inflation forecasts that support the price of gold.
This channel is particularly important in the case of Nigeria, a major oil exporter. When crude markets temporarily tighten due to supply disruptions or OPEC policy decisions, gold becomes a complement to hedge against global inflation risk.
Trading with the Use of Gold Correlations
A structured approach allows traders to put gold’s relationships into practice:
Start with the macro driver.
Identify whether inflation, geopolitics, or monetary policy is the primary force shaping markets.Translate the macro event into correlation expectations.
Example: falling bond yields lead to a weaker USD, which in turn supports gold and could lead to upside in EUR/USD.Use correlation clusters instead of isolated signals.
Gold + USD + bonds provide a more reliable picture than gold alone.Apply risk management aligned with volatility cycles.
Gold’s volatility often spills over into major currency pairs.
Market platforms like JustMarkets emphasize these cross-asset links to help traders simplify complex macro interactions into actionable insights.
Why Nigerian Traders Pay Close Attention
The Nigerian economy is highly integrated into global commodity flows; inflation cycles, dollar liquidity, and geopolitical developments tend to reach the local market faster than the pace at which policy adjustments can be made.
Gold serves as a barometer of global risk, a hedge against currency depreciation, and a signal of moves in the key USD pairs that headline Nigeria’s trading activity.
In a region increasingly active in the Forex market, understanding the relationships involving gold is not just about trading but also a strategic tool for analyzing global economic behavior
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