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Innoson Secures $300m Credit for Set-Top Boxes from Chinese Investors

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Innoson Group has secured financial foreign investment credit facility of $300million USD for local production and supply of a minimum five to eight Million (5-8million) Set-Top Boxes to support the Federal Government of Nigeria Digital Switch Over (DSO) project being handled by the National Broadcasting Commission in order to meet the deadline switch of June 2017.

The amount was part of Innoson Group partnership with a Consortium of Chinese Investors to pump in $1billion (USD) into Nigeria information technology sector of the economy; to include 400million Nigeria’s DSO Project Digital Satellite TV station and additional 600million USD covering other important sectors.

Cornel Osigwe, public relations & media assistant at Innoson Group disclosed this on Sunday, adding that Vice President, Prof Yemi Osinbajo, will today Monday, October 25, receive the consortium of Chinese Foreign Investment Group led by Liu Baoju, a deputy minister of Communist Party of China in Shandong Province who is equally the Chairman of Shandong Broadcasting Group and Shandong Cable Interactive Service Ltd, the world’s biggest TV operators and Huang Gang, Senior Vice President of Inspur Group and President of its Oversea Headquarters. Inspur Group is China’s leading cloud computer solution supplier and cloud service provider involving all IT applications.

This visit which comes as one of the gains of President Muhammadu Buhari’s visit to China will attract a foreign investment of 1Billion USD.

Osigwe gave a breakdown of the investment as currently agreed by the Chinese Consortium is as follows;

“Financial foreign investment credit facility of $300million USD for local production and supply of a minimum five to eight Million (5-8million) Set-Top Boxes to support the Federal Government of Nigeria Digital Switch Over (DSO) project being handled by the Nigerian Broadcasting Commission in order to meet the deadline switch of June 2017.

“Financial foreign investment of $100million USD to establish the latest technology and biggest DTH (Direct-To-Home) Digital BING Television Station across all states of Nigeria. In addition, the two above immediate investment is being followed by another 600 Billion USD investment in which negotiations is almost fully concluded with our strategic partners to cover the following areas of Nigerian economy; Smart City (CCTV camera) using cloud computing total solution that is known as E-Policing to cover the whole landmass of Nigeria.

“Cloud Computing Total Solution on Taxation with IT applications for such institutions as Federal Inland Revenue Service (FIRS) and other taxation agencies for seamless and stress-free tax collection mechanism. E-Education IT Solutions with big data centers for all Federal Universities and Polytechnics in the country. It is also interesting to note that the Nigerian company bringing in and partnering with these foreign investors is the Innoson Group, Nigerian’s first indigenous and largest local manufacturer of automobiles and the largest plastic processing manufacturer in West Africa”.

He said that, the company as a trailblazer has decided to be part of history as one of the companies that will take Nigeria into the digital world.

“In order to keep up with its trend of opening new grounds, it has decided to diversify into Information Technology (IT) and the Multi Media Sector with the plan to launch a Satellite Digital TV operation and other services in partnership with Shandong Broadcasting Group and Shandong Cable Interactive Service Ltd China with technical support from Inspur Group Co Ltd, China.

“This foreign investment is coming at a time when Nigeria is in dire need of foreign investors to boost the economy. The focus point of the investment will go a long way to boost the economy of Nigeria with the following as attendant benefits;

“Assist the Federal Government meet its June 2017 deadline for the transition from Analog to Digital broadcasting services. Establishment of 40 lines of production and manufacturing complex for making Broadcast Digital Set-Top-Boxes, the biggest of its kind in the whole of Africa. Job creation of over 5000 jobs in the Innoson Group Set-Top-Box manufacturing complex in Nigeria within the next two years. Job creation of about 2000 jobs by Innoson BING Digital DTH Television operation across Nigeria with the first two years.

Nigeria will become the manufacturing hub for Set-Top-Box in Africa with the attendant benefit of earning foreign exchange through exports from Innoson Manufacturing Complex. Innoson Group would put into use its biggest plastic industry at Enugu by locally manufacturing most of the plastic components of the Set-Top-Box thereby saving cost.

“Another important benefit is that BING TV Project will engage the almost under utilised Nigerian Communication Satellite (NIGCOMSAT) situated at Obasanjo Space Centre in Abuja with its numerous benefits of saving foreign exchange by buying into Nigeria available goods and services, instead of engaging foreign satellite and transponders as all our other competitors here in Nigeria are currently doing.

“Providing adequate National security using cloud computing technology to secure our country against insurgency, militancy, kidnapping and all other forms of dangerous crimes,” he stated.

 
 


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Why Multichoice Hiked Subscriptions for DStv and GOtv Packages-  FCCPC 

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Dr. Adamu Abdullahi, acting Executive vice chairman, Federal Competition and Consumer Protection Commission (FCCPC), has disclosed that Multichoice submitted a four-page letter detailing the reasons for the price hikes in their cable services, GOtv and DStv.


Why Multichoice Hiked Subscriptions for DStv and GOtv Packages-  FCCPC 

FCCPC is responsible for protecting market competition and promoting consumer protection.

In an interview with Channels TV, Sunday, Abdullahi stated that the company cited the cost of electricity, generator operations and poor access to dollars as some of the reasons for the price increase.

He said the commission will review the reasons identified by Multichoice, noting that the agency will involve regulatory bodies such as the National Broadcasting Commission (NBC) and the Nigerian Communications Commission (NCC) in the process.

According to Abdullahi, the commission will not hesitate to sanction the firm if it discovers that their prices are arbitrary or it is in any way manipulating the market.

“We got a four-page letter from Multichoice, telling us the reason that led to this price increase. What we need to do is to bring in NCC and maybe NBC and Multichoice, sit down and look at all these variables that they claim caused the rise in prices.

“At a glance, we saw things like the cost of electricity, running generators, the cost of dollars for spare parts and so on. We’ll go through these items individually and find out how they have affected their operations.

“By and large, that’s the claim of what they are doing because they are a dominant player in this market. People have no choice but to go to them for Cable television, so that’s why they are doing what they are doing.

“If by any chance we find out or we can confirm that that’s what they are doing, again we go back to the law and do what we are supposed to do,” Abdullahi said.

Recall that the Multichoice Nigeria recently increased tariff or its DStv and GOtv packages by at least 25 per cent.

The increase,  second in five months will be effective May 1.


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How to Beat DStv Price Increase with ‘Price Lock’ Feature

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In today’s fast-paced world, where every penny counts, finding ways to save on essential services is more important than ever. And as part of its commitment to customer satisfaction, DStv has reiterated its “Price Lock” feature.

DStv Price lock

This is in response to the upcoming tariff increase, which the company understands may impose some financial strain on its valued customers.

What exactly does the “Price Lock” feature entail? The “Price Lock” feature offers customers the opportunity to retain their subscriptions at the current rate for 12 months.

To use the “Price Lock” feature, customers simply need to renew their subscriptions before the due date each month, ensuring uninterrupted access to their favourite DStv content at the current rate for the next 12 months.

But here’s the catch: only customers with an active subscription by the 30th of April qualify for this offer, when the tariff adjustment comes into effect.

Make sure you don’t miss the price lock offer! Simply download the MyDStv or MyGOtv app or dial *288# to subscribe, upgrade, or set up Auto-Renewal.


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OJI Demands Ban on Netflix, TikTok, Others over Same-Sex Content

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Civil Society Organisation (CSO) under the auspices of Open Justice Initiative (OJI), has threatened to drag the National Broadcasting Commission (NBC) to court if it fails to ban Netflix, TikTok, and others over the alleged broadcast of offensive same-sex content on Nigeria’s airwaves.

OJI Demands Ban on Netflix, TikTok, Others over Same-Sex Content

The CSO, also urged NBC to ban other social media platforms, including X, formerly known as Twitter, Facebook, etc with regard to the subject matter.

Donald Ayibiowu, lawyer and programme officer of OJI, gave the warning in a letter addressed to Mr. Charles Ebuebu, director-general of the NBC.

The certified true copy of the letter titled: “Need to ban and bar the continuous broadcast of offensive same-sex contents on Nigeria’s airwaves by Netflix and other specialised broadcast outlets”, made available to newsmen in Abuja, was received by the Commission on April 23, 2024.

The letter said, “We write to draw the esteem attention of your commission to some obnoxious and repugnant same-sex contents being aired or transmitted by some broadcast outfits operating within the Nigeria broadcast space, which platforms includes Netflix and some social media entities.

“These abhorrent contents being campaigned about borders on the promotion of amorous relationships between persons of same sex on the said platforms.

“We received complaints on this topic from well-meaning Nigerians and religious organisations and further discovered that the broadcast contents/materials on these platforms are laced with embedded scenes/episodes where same-sex relationships are practically being propagated.

“We also conducted research on some social media platforms like TikTok, Twitter (X), Facebook (Meta), etc with regards to this subject, and found same hazardous and illegal same-sex content being promoted and transmitted.

“It is clear that there is an agenda to surreptitiously lure the unsuspecting young population of this country to this satanic habit/lifestyle of same-sex practice in Nigeria by subtly introducing same through entertainment and showbiz industry, albeit through the airwaves.

“It is now commonplace to see some of these illegal contents being conveyed on social media and specialised platforms in Nigeria.

“We wish to point out that these contents are clearly being aired or transmitted in contravention of our extant laws such as Sections 4(2) and 5(2} of the Same-Sex Mariage (Prohibition) Act, 2013,” he said.

The lawyer said the act being subtly propagated and promoted via the mediums was targeted at destroying the moral fibre and rectitude, erode, dislodging and polluting the society with unacceptable inhuman values.

He said it was also to erode the age-long cultural practices and sacred religious belief system of male and female gender only as created by God Almighty.

Ayibiowu said, that if the commission failed to block, restrict or scrap the same-sex promotional material/contents from Nigeria airwaves, “we shall proceed to seek further redress in pursuit of our goal of saner Nigeria airwaves”.

 

 


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