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Dragons Emerge from Den, Make Offers

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Akaku Ugochukwu, an entrepreneur has requested for the sum of N10 million to expand his food processing business in exchange of 22.5% equity in his company.

He planned to process locally sourced food ingredients into highly nutritive easy-to-cook food concentrates.

This is part of the highlights of first episode of Dragon’s Den Nigeria show which aired on Sunday, August 27.

Nwaji Jibunoh; the presenter had made a charming introduction of the dragons, thereby creating a desire for success in the would-be entrepreneurs.

Though Femi Tejuoso objected to being offered only 22.2% equity in a company that the entrepreneur expected the dragons to fully fund, he seemed interested in the business, especially when Ugochukwu mentioned that the equity was negotiable.

Alex Amosu then discovered that Ugochukwu’s customers comprised about 20 local caterers who baked Akara and Moi Moi. Ugochukwu professed to having made N800 thousand in the past one year, of which N600 thousand was his profit.

Ibukun Awosika told him, "with such a profit margin, your business is a cash-cow, you don’t need us, all you need to do is just plough back your profit into the business". But Chris Parkes wanted to know how Ugochukwu intended to market this product, to which he had no ready answer. His business proposal soon crumbled under heavy intellectual fire which saw all the Dragons opting out.

The second entrepreneur approached the Dragons brandishing two coconuts and a bottle. He asked for N35 million, but had no clear business plan on how to use the money. He fell under Alex’s fire which sealed his fate in the den.

The third entrepreneur who had a misconceived idea of the media industry faced the dragons with an idea to set up a one-stop entertainment and media training facility where he would train applicants to become actors, producers, and directors in one week through seminars.

This elicited negative reactions from Chris Parkes and John Momoh who pointed out that his idea was not feasible and not quite long after, he crashed out of the race.

The fourth entrepreneur, David Okafor wanted N25.5 million for his mobile enquiry service business and was ready to give up 20% equity. He talked about designing a mobile directory which would offer a bouquet of services from corporate organizations, and making it available to the public through dedicated short SMS codes.

This attracted Alex Amosu’s attention, who invested some money on the idea but later withdrew it because David’s idea lacked commercial viability. He lost out.

The fifth entrepreneur came with hopes of expanding his auto-refurbishing and auto-refinishing business with N10 million. He boasted of a turnover of N5 million for the past 3 years, with a profit of N2 million each year. Momoh’s attack came first, followed by Awosika’s and before this entrepreneur knew it, he lost out and went home with nothing.

The sixth entrepreneur, Modupe walked into the den, fidgeting with a piece of paper in her hands from which she read her name and business details, stuttering through her presentation, to the Dragon’s dismay.

She asked for N5 million for a business that aimed at empowering women through paid seminars, offering 15% equity to the dragons. She lost out however, for her lack of composure and on the premise that her proposed services were offered free by churches around Lagos, according to Awosika.

The last entrepreneur on this episode, Mohamed Umar, the proprietor of Cute Suites in Zamfara state asked for N50 million and offered 33.3% equity. His idea seemed promising at first but Ibukun Awosika’s observations revealed that his clientele base was narrow and coupled with the fact that he had no clear plan for revenue generation; he left the den with nothing but a pat on the back.

The highlight of his presentation however, was when he presented the Dragons each with a Cute Suits crested fez cap and T-shirt, despite the fact that they had turned down his proposal.


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What Adekunle Gold’s Support Means for ‘The Gathering on 100

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Popular Nigerian artist Adekunle Gold has lent his support to the growing youth-driven movement behind The Gathering on 100, further amplifying conversations around what is fast becoming one of the most talked-about upcoming experiences among young Nigerians.

What Adekunle Gold’s Support Means for ‘The Gathering on 100

Adekunle Gold

Known for his music and his strong connection with youth culture and evolving creative expression, Adekunle Gold’s involvement signals a deeper alignment between the event and the kind of audience it is attracting, a generation that is bold, expressive, and constantly redefining what community looks like.

While details of his involvement remain understated, his visible support adds a new layer of support and cultural relevance to the movement. In a landscape where attention is currency, endorsements from artists of his stature often act as a signal, drawing more eyes, more curiosity, and ultimately, more participation, but beyond visibility, the significance lies in what it represents.

The new father has, over the years, built a reputation for embracing creativity in its many forms, from music to visual storytelling, fashion, and digital engagement. His brand has consistently resonated with young Nigerians navigating similar spaces of self-expression and identity.

From interactive experiences like live music sessions and open performance moments to fashion runways and content creation spaces, the event is designed to blur the lines between audience and participant. It invites attendees to move beyond observation and become part of the moment.

This is a concept that closely mirrors the kind of cultural shift Adekunle Gold has been part of, one where boundaries between creator and consumer continue to dissolve.

His support also reflects a broader trend within Nigeria’s entertainment industry, where artists are increasingly engaging with youth-led initiatives that go beyond traditional performances. Rather than simply appearing on stage, they are aligning with movements that foster community, creativity, and shared experience.

For fans and attendees, this adds another dimension to what The Gathering on 100 represents.

As registrations increase and conversations expand across social platforms, the movement is gradually taking shape through the collective interest of those drawn to it.

Head to gathering.com to register.


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INEC Warns Broadcasters against Misinformation ahead of 2027 Polls

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Prof. Joash Amupitan, chairman, Independent National Electoral Commission (INEC), has urged broadcast organisations in Nigeria to exercise greater responsibility in the dissemination of information as the country prepares for the 2027 general elections.

INEC Warns Broadcasters against Misinformation ahead of 2027 Polls

Amupitan made the call on Wednesday, while addressing participants at the 81st General Assembly of the Broadcasting Organisations of Nigeria (BON), where he highlighted the growing influence of the media in shaping electoral processes.

He noted that the information environment has become increasingly significant in modern elections, warning that the spread of false or misleading information through broadcast channels could undermine public confidence in the electoral system.

According to the INEC chairman, media organisations must ensure strict compliance with the provisions of the Electoral Act 2026, particularly those relating to  political broadcasting. Politics

He explained that the law requires equitable access to broadcast platforms for all registered political parties, stressing that fairness in media coverage is essential to maintaining a level playing field during elections.

“With 22 registered political parties, fairness in airtime allocation and coverage is a legal obligation,” Amupitan said.

The INEC chairman also cautioned broadcasters against airing content that contains abusive, inflammatory, or divisive language capable of inciting ethnic, religious, or sectional tensions.

Such broadcasts, he said, could threaten national unity and disrupt the electoral process if not properly managed.

Amupitan further reminded media organisations about the 24-hour cooling-off period mandated by law before election day, during which all political campaigns and advertisements must cease.

He explained that the measure is intended to provide voters with time to reflect on their choices without being influenced by last-minute campaign messaging.

While acknowledging the constitutional guarantee of freedom of expression, Amupitan emphasised that the right must be exercised within the limits of the law.

He noted that the airwaves are a public resource and must therefore be used responsibly to ensure fairness, balance, and equal access for all political actors.

The INEC chairman also pointed to the collaborative roles of INEC and the National Broadcasting Commission (NBC) in regulating political broadcasting, although he acknowledged that certain challenges persist.

These challenges, he said, include regulatory overlaps, gaps in enforcement, and the increasing convergence of traditional broadcast media with digital platforms, which has made monitoring political communication more complex.

Amupitan also expressed concern over perceived incumbency advantages in state-owned broadcast stations and the growing commercialisation of political airtime, warning that these practices could disadvantage smaller political parties. Politics

To address these concerns, he called for stronger collaboration between regulatory agencies, clearer guidelines on equal access to media platforms, and improved systems for fact-checking and verification.

He also advocated increased transparency in political advertising, including the disclosure of sponsorship and pricing structures.

Amupitan urged broadcasters to prioritise accuracy and professionalism in their operations, encouraging them to verify information before dissemination and play an active role in combating fake news.

He also called on the media to contribute to voter education and civic mobilisation, noting that public participation is vital to strengthening Nigeria’s democratic process.

Reaffirming the commission’s commitment to transparency, the INEC chairman advised media organisations to rely on official INEC communication channels for verified electoral information.

He added that the credibility of the 2027 general elections would depend not only on electoral logistics and technology but also on the integrity of the country’s information environment.


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Multichoice Bleeds Customers in South Africa, Loses 580,000 Subscribers

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Rising cost of living, currency depreciation, and competition from streaming services have all conspired to see MultiChoice lose 589,000 South African subscribers in its latest financial year.

Multichoice Bleeds Customers in South Africa, Loses 580,000 Subscribers

The decline is across premium, mid-market and mass segments of its operation.

After completing its acquisition of MultiChoice, Canal+ has moved to stabilise the business.

MultiChoice’s new leadership under David Mignot, CEO,  hopes to “stop the bleeding and get back to growth”.

The new leadership has scrapped DStv’s annual price increase and decided to shut down Showmax, the in-house streaming platform that struggled to compete with Netflix and Amazon Prime Video.

Canal+execs have described Showmax as unsuccessful, noting that the difficult transition to online streaming, combined with currency devaluation in Nigeria and power cuts, had hurt MultiChoice’s profitability.

MultiChoice ended 2025 with 14.4 million subscribers across Africa, down from 14.9 million a year earlier, while revenue declined 6 percent to 2.4 billion euros.

 


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