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Dragon’s Den: From Classroom of Fire, Cash

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Episode 3 of the Dragon’s Den was packed with more dramatic energy, more ambitious smooth-talking entrepreneurs, and more ruthless dragons.

The first entrepreneur Aniekeme Friday Bassey came in search of 8 million naira in exchange of 20% equity in a business he believed would solve Nigeria’s electricity problem for good. He came hoping to convince the dragons to invest in a business that would make wind turbine power-generating sets available in Nigeria. He revealed that the wind turbine apparatus generated up to 2 mega watts of electricity, and was currently being employed in Europe, where this technology is responsible for generating more than 40% of the continent’s energy.

Femi Tejuoso’s question initiated his undoing and before long, it was obvious that this entrepreneur’s idea was not only unoriginal to him but he lacked faith in his business plan. He was sent home with only a piece of advice from Ibukun Awosika. 

Emmanuel Achukwu barely escaped being scorched by the infuriated dragons who felt enormously insulted by his bizarre demand for 5 million naira in exchange for 60% equity in a company that would specialize in writing business plans for other businesses when the business plan he had presented to the dragons for this business was flawed by an overwhelming dose of mediocrity, incompetence, and severe lack of any fundamental knowledge in the art of business writing. 

It was not long before this entrepreneur went crashing down with yet another advice from Awosika, "please don’t try again. Go back to school. Make yourself more qualified to do this kind of work- but for now, you don’t have a business."

The third entrepreneur, Alao Olatunji had the idea of starting what he dreamt was a ‘Modern Day Carwash’, and in order to turn his dream into an growing enterprise, he requested for 31 million naira in exchange of 70% equity.

During his presentation he had revealed his plans to roll out a bouquet of car-washing services under the glam titles ‘Flexi’, ‘Supreme’, ‘Instanta’ etc. He pegged the prices for his services at N1, 000.

Attacks came from Chris Parkes, Awosika and John Momoh and Olatunji could not keep up. He lost out!

Michael Ijegwua and his partner Idu Paul went into the den, looking smart, and confident that they were going to secure an investment in a business they had tagged the "Mobile Aided Mail-Box", which was ear-marked to provide a service that would replace the conventional Private Mail Box (PMB) addressing system with a subscriber’s mobile phone number. The idea sounded very brilliant but confusing at first.

However, on closer examination the Dragons discovered it was just a value added service which would prove profitable if only they made plans to work with the postal agency to introduce this concept to their subscribers.

 

They opted out.

The fifth entrepreneur, Walter Asikaro, the chairman of Consolidated Gems Limited, came to expand his business of exporting rough and processed gem stones with a 6 million naira investment from the dragons. But his undoing was not being able to convince the dragons on the legality of the business. He lost out!

Abiodun Bolaji came to ask for 6 million naira in exchange for 60% equity in his refuse disposal business. But indications that he would use bribery to advance his business put the dragons off whom of course, opted out.

The seventh entrepreneur, Jumobi Daniel and his "Jumoby Fruity Eatery" left a fruity taste in the den when he came asking for 5 million naira in exchange of 30% equity in his business, an outlet where fruits can be savored by customers all day long

The dragons on a closer look discovered that his business plan was not feasible, and his idea was not well-researched. They advised him to allow his business to grow from bottom upwards instead of jumping from start-up to becoming a conglomerate.

However, he went home with Chris Parkes 1Million Naira advice only after the dragons had opted out.


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MultiChoice Suspends Yearly DStv Price Hike as Canal+ Pushes Growth

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MultiChoice has said that it will not implement its customary yearly price increase on DStv and GOtv subscriptions.

MultiChoice Suspends Yearly DStv Price Hike as Canal+ Pushes Growth

This is the first time the Pay-TV company will not be adjusting its price in April, as it has in previous years, signalling a clear shift in direction under its new owner, Canal+.

The decision, confirmed by David Mignot, group chief executive,MultiChoice in an interview with TechCentral, comes as the pay television operator grapples with steep subscriber losses across its markets.

For many households accustomed to annual April tariff adjustments, the announcement will be a welcome break.

Responding to questions about whether DStv prices would rise in April as they have in previous years, Mignot gave a firm response: there will be no increase.

He explained that the company’s immediate focus is on rebuilding its subscriber base, making this an unsuitable period to adjust prices upward.

He added that while there are no current plans for a price hike, the company has not completely ruled out adjustments later in the year, especially if economic conditions demand it, such as significant currency movements.

MultiChoice has historically reviewed and raised DStv subscription fees in April, often citing inflationary pressures and rising content costs. As recently as April 2025, bouquet prices were adjusted upwards by between 2.1 per cent and 7.9 per cent.

The DStv Premium package rose from R929 to R979 per month, while DStv Access, the entry-level satellite package, recorded one of the steepest increases.

This year’s pause represents a break from that pattern and forms part of a broader reset following Canal+’s acquisition of MultiChoice in September 2025.

Mignot, who brings three decades of experience in the pay television industry, summed up his mission in simple terms: halt subscriber losses and return the business to growth.

The urgency behind the move is evident in MultiChoice’s recent performance.

The group has lost 2.8 million linear broadcasting subscribers in the two years ended 31 March 2025, with roughly half of those losses occurring in South Africa.

In the financial year to end-March 2025 alone, MultiChoice shed 1.2 million subscribers, representing an eight per cent year-on-year decline and leaving the group with 14.5 million active customers.

The previous year saw an even steeper drop of 1.6 million subscribers. By June 2025, Canal+ indicated that the pace of decline had intensified further.

The financial impact has been significant. Revenue for the year ended 31 March 2025 declined by R4 billion to R52 billion, while trading profit fell sharply by 49 per cent to R4 billion.

According to Mignot, the company’s difficulties stem less from its programming slate and more from weaknesses in its commercial execution.

He argued that in subscription businesses, a churn rate of between 12 and 15 per cent annually is inevitable as customers relocate, experience job losses, adjust household budgets, or change priorities. Without attracting a comparable number of new subscribers each year, losses accumulate.

Mignot maintained that the content offering remains strong, particularly in sport and general entertainment. He cited flagship brands such as SuperSport, M-Net and Africa Magic as evidence of sustained investment in programming. However, he stressed that content strength alone cannot offset a weakening subscriber acquisition engine.

He noted that MultiChoice’s commercial machinery had performed robustly across Africa until around 2022, describing the current challenges as relatively recent.

Drawing on Canal+’s experience in French-speaking African markets, Mignot pointed out that pricing there has remained largely unchanged for close to 14 years, supported by a volume-driven approach. He described his strategy as one focused on growing subscriber numbers while maintaining profitability.

While he did not dismiss the possibility of reviewing prices downward in future, he indicated that no such decision has been taken.


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Spotify Marks 5 Years in Nigeria with 163.5% Listening Surge, Afrobeats Boom

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Spotify marked five years in Nigeria since its February 2021 launch with dramatic year-on-year listening growth averaging 163.5% through 2025, featuring triple-digit surges early on and sustained momentum, propelled by Afrobeats streams rocketing +5,022% alongside booming genres like Amapiano (+10,330%), Gospel/Praise (+5,499%), Hip-hop/Rap (+3,020%), and R&B (+2,602%).

Spotify Marks 5 Years in Nigeria with 163.5% Listening Surge, Afrobeats Boom

Spotify

Indigenous language music listening surged +554% in Nigeria in 2024 and +87% in 2025, with global growth at +141% and +41% respectively, underscoring rising demand for local storytelling sounds.

The platform’s Nigerian artist roster expanded +158%, fueling a discovery boom where average listeners (aged 26) streamed 150 different artists recently; users created over 25 million playlists, logged 1.4 million play hours in 2025 alone, and streamed 59 billion podcast hours total.

Top Artists (2021-2025): Asake, Wizkid, Seyi Vibez, Burna Boy, Davido.

Top Songs: “Remember” (Asake), “Dealer” (Ayo Maff & Fireboy DML), “Awolowo” (Fido), “Kese (Dance)” (Wizkid), “Lonely At The Top” (Asake), “Joy is Coming” (Fido), “With You” (Davido feat. Omah Lay), “Terminator” (Asake), “MMS” (Asake feat. Wizkid), “Doha” (Seyi Vibez).

Nigeria’s debut stream was Shiga Lin’s Cantopop epitomizing borderless discovery from day one.


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Pheelz Shares His Journey on Glo-Sponsored African Voices

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Nigerian singer, songwriter and producer Pheelz (Phillips Kayode Moses) is set to feature this weekend on African Voices Changemakers, the flagship magazine programme on CNN International.

The 30-minute episode, sponsored by digital solutions company Globacom, premieres on Saturday, February 21, 2026. In a candid sit-down with host Larry Madowo, Pheelz opens up about his journey from church musician to global hitmaker, reflecting on the intersections of faith, fame and the expanding influence of Afrobeats on the world stage.

Now 31, Pheelz began his musical path as a multi-instrumentalist in church before earning widespread acclaim in 2012 as the producer behind the hit tracks “First of All” and “Fucking with the Devil” on Olamide’s YBNL album. His rapid rise saw him named among NotJustOk’s Top 10 Hottest Producers in Nigeria in 2013.

He further solidified his reputation by producing nearly every track on Olamide’s Baddest Guy Ever Liveth, earning nominations at The Headies 2013 and in the Producer of the Year category at both The Headies 2014 and the Nigeria Entertainment Awards. In 2020, he clinched The Headies Producer of the Year award, and in 2021 secured the Soundcity MVP Award for Best Collaboration for “Finesse,” his smash hit with Bnxn (formerly Buju).

On the programme, Pheelz reflects on the experiences that shaped his sound and creative philosophy, discusses landmark collaborations, shares his perspective on artificial intelligence and artistry, and explains why sound, storytelling and culture remain central to African music’s global resonance.

The show airs on DSTV Channel 401 at 8:30 a.m. (WAT) on Saturday, with repeat broadcasts at 12:00 noon the same day; Sunday at 4:30 a.m. and 7:00 p.m.; Monday at 4:00 a.m. and 6:45 p.m.; and Tuesday at 6:45 p.m. The broadcast schedule continues through Monday of the following week.


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