Connect with us

General News

How AMVCA Enriches Nigeria’s Economy through Sold out Hotels and Overbooked Makeup Artistes

Published

on

Kindly share this post

The curtains may have closed on this year’s AMVCA awards, but one impressive effect of the showpiece is it’s often overlooked, yet immensely important effect on Nigeria’s economy.

Apart from its extensive cultural impact, Africa’s biggest award show also has a very real economic impact on the country.

The scale and scope of the showpiece means that on a yearly basis, over 600 people are employed to work on the awards, while another 1000 businesses directly and indirectly contribute their services to the success of the show.

The showpiece has also become a major event for tourists, and this is partly due to the continental feel of the awards.

Actors, Actresses, Script Writers, and Directors from all over the continent are nominated for the awards and these nominees often troop into town weeks before the event day to enjoy the Lagos experience.

For a country which is known to have huge tourism potential due to its gorgeous landscapes, it is ironic that an Award show has become one of the biggest tourism pulls of the country.

From weeks leading to the Nominees and Sponsors Cocktail Party, to the days after the event has ended, AMVCA tourists are known to stick around to enjoy the culture of the country.

This means hotels, Ubers and AirBnBs are the major beneficiaries of this tourism experience.

Availability of transportation is a major essential for Africa’s very own Oscars and with the proliferation of ride sharing apps, it has become a lot easier not only for drivers to provide their services but also for consumers to access them.

However, even for the burgeoning transportation industry, there are few times in the year that these drivers are so much in demand, as during the AMVCAs.

Makeup artists, photographers and stylists are at the very top of the AMVCA money makers’ list.

The exciting thing about the award show is that the event is an A-list affair for creatives from all over Africa. What do actresses from South Africa, set designers from Kenya, camera men from Libya and directors from Egypt all have in common?

They all want to look good on the big night and there’s perhaps no better place to that than at Lagos.

Some of the Nominees and tourists go the extra mile of ordering outfits in Nigerian fabric and made by Nigerian designers.

Makeup artistes, tailors, stylists and photographers may give the celebrities the Midas touch they need, but it is the hotels that give them a place to lay their heads before they even begin to get ready for the event.

Many of these nominees and attendees arrive in Lagos days or weeks before the actual event. Anyone who has ever called to book for a hotel around the AMVCA period, can attest to getting the “sorry, we are fully booked” response from a number of top notch hotels.

While the big names may be fully booked, however, the lesser known but more homey hotels get their day in the sun as they get to receive new international business.

Then of course we have the caterers, whose services are especially important because while people from different countries may want to experience Nigerian meals, they would definitely not mind tasting a meal or two that they are familiar with.

It would seem that every aspect of the Nigerian business cycle is activated and empowered in a brand new way, all thanks to the organizers of the AMVCAs.

However, beyond the showpiece which has become one of the most prestigious in the country, the AMVCA offers the perfect tourism opportunity for everyone on the continent and provides an opportunity for various entrepreneurs to exchange their services for money.

All of these have made the AMVCAs a blessing to the Nation’s economy.


Kindly share this post

Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Continue Reading
Advertisement
Comments

General News

MultiChoice Secures 12 Warner Bros. Discovery Channels in New Multi-Year Deal

Published

on

Kindly share this post

MultiChoice, a CANAL+ company, has retained the distribution rights to 12 Warner Bros. Discovery thematic channels following the signing of a new multi-year, multi-territory agreement between CANAL+ Group and Warner Bros. Discovery, marking a significant expansion of their long-standing partnership.

MultiChoice Secures 12 Warner Bros. Discovery Channels in New Multi-Year Deal

MultiChoice

The new deal, which spans several regions across Africa and Europe, covers the distribution of HBO Max as well as the renewal of selected Warner Bros. Discovery thematic channels. It represents a major milestone in the companies’ international collaboration and strengthens content offerings across MultiChoice Group territories.

MultiChoice disclosed that this agreement builds on earlier partnerships concluded in Europe. “It builds on the landmark agreements concluded in France in 2024,including the renewal of the exclusive pay-TV window for Warner Bros. Pictures films just six months after their theatrical release in France and the integration of HBO Max within select CANAL+ group offers – as well as in Poland in 2025, with the renewal of the distribution agreement for 22 thematic channels (including TVN 24 and Eurosport) and 4 free-to-air channels (including TVN).”

Under the renewed arrangement, MultiChoice Group will continue to distribute 12 Warner Bros. Discovery thematic channels across its territories, with some channels offered on an exclusive basis. CNN International and Cartoon Network will remain exclusive to South Africa while being distributed non-exclusively in other markets. Cartoon Network Porto will be exclusive in Angola and Mozambique and non-exclusive elsewhere. Other channels such as Discovery Channel, TLC, HGTV, Food Network, TNT Africa, Travel, ID and Cartoonito will be offered on a non-exclusive basis.

According to the partners, the deal reinforces CANAL+ Group’s channel portfolio on the continent. “This agreement enables CANAL+ Group to strengthen its entertainment, kids, news, and documentary channel offerings in African markets.”

The agreement is also expected to improve access for CANAL+ Group subscribers to Warner Bros. Discovery’s premium content through HBO Max and selected channels, including globally recognised series and films, further extending the studio’s international reach while consolidating MultiChoice’s content offering in key markets.

 


Kindly share this post
Continue Reading

General News

Nigeria Police suspends tinted glass permit enforcement over court injunction

Published

on

Kindly share this post

Nigeria Police Force has suspended nationwide enforcement of its tinted glass permit policy, hours before its scheduled rollout, in compliance with a Delta State High Court order.

Nigeria Police suspends tinted glass permit enforcement over court injunction

Tinted glass permit

The policy, set for January 2, 2026, aimed to curb vehicle-related crimes but faced legal challenge from a private citizen against the Inspector-General of Police, the force, and Delta Police Commissioner.

An ex parte injunction issued in December 2025 restrained enforcement pending suit determination, prompting the hold announced by spokesperson Benjamin Hundeyin on January 1.

Police entered appearance, filed preliminary objections, and sought injunction vacation; hearing adjourned to January 20, 2026.

The Nigerian Bar Association condemned initial police plans as “executive recklessness,” accusing disregard for rule of law, while police insisted no permanent bar existed on statutory duties.

IGP Kayode Egbetokun reiterated adherence to law while prioritising public safety via intelligence-led strategies during proceedings.


Kindly share this post
Continue Reading

General News

NDIC Reinforces Full Oversight Compliance to Safeguard Depositors

Published

on

Kindly share this post

Mr. Thompson Sunday, the Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), has reaffirmed the Corporation’s strict compliance with fiscal and financial regulations, including the provisions of the Fiscal Responsibility Act (FRA) 2007, noting that the NDIC has consistently remitted the required percentage of its earnings to the Federal Government.

Mr. Sunday made this known during a courtesy visit to the Managing Director/Chief Executive of the Ministry of Finance Incorporated (MOFI), Dr. Armstrong Takang, as part of NDIC’s ongoing engagement with key stakeholders following his formal assumption of office in July 2025.

According to him, NDIC takes financial accountability and transparency seriously, stressing that the Corporation complies fully with statutory remittance obligations, including the payment of 20 per cent of gross earnings or 80 per cent of net surplus to the Federal Government, as applicable. He added that NDIC also submits its financial statements ahead of statutory deadlines.

The NDIC MD/CE explained that this culture of compliance aligns with the Corporation’s role as a key institution within Nigeria’s financial safety-net, charged with protecting depositors and promoting confidence in the banking system. He emphasized that adherence to fiscal discipline remains central to NDIC’s credibility and effectiveness.

Mr. Sunday further disclosed that NDIC also complies with the Federal Government’s 50 per cent cost-to-income ratio policy, although he noted that the policy poses operational constraints. He explained that the deductions affect NDIC’s ability to build a strong Deposit Insurance Fund, which is needed to respond effectively to bank failures.

He stressed that international best practices under the Core Principles for Effective Deposit Insurance issued by the International Association of Deposit Insurers (IADI) require deposit insurers to maintain adequate funds to reimburse depositors when banks fail without recourse to government, adding that the NDIC is seeking an exemption to strengthen its capacity in this regard.

Mr. Sunday described MOFI as a critical stakeholder, noting that the Federal Government, through MOFI, holds a 40 per cent equity stake in NDIC. He said sustained collaboration with MOFI is essential to ensuring that NDIC continues to meet its obligations to government while effectively safeguarding depositors’ funds.

In his remarks, Dr. Takang commended the NDIC for its exemplary collaborative spirit and acknowledged the Corporation’s compliance with fiscal regulations. He assured that MOFI would continue to engage the Federal Ministry of Finance on NDIC’s behalf, noting that a strong NDIC is vital to sustaining confidence in Nigeria’s financial system.

Both institutions reaffirmed their commitment to continued cooperation, transparency and accountability, with Mr. Sunday reiterating that NDIC remains focused on balancing regulatory compliance with its overriding mandate of depositor protection and financial system stability.


Kindly share this post
Continue Reading

Trending