Subscribers to pay TV services have berated MultiChoice Group for announcing that its Nigerian unit, MultiChoice Nigeria, lost 243,000 subscribers on its Digital Satellite Television (DStv) and GOtv services within six months.

The News Agency of Nigeria (NAN) reports that the South African-owned pay-TV operator had, in its Interim Financial Results for the period ending Sept. 30 released on Tuesday, announced the loss of 243,000 subscribers on its DStv and GOtv.

NAN also reports that MultiChoice had attributed the decline to Nigeria’s high inflation rate, which has exceeded 30 per cent, resulting in rising costs of food, electricity and fuel, thus causing many customers to unsubscribe.

The company further reported a 566,000-subscriber loss in the Rest of Africa operations over the past six months, with Zambia and Nigeria contributing the largest shares.

The announcement had sparked reactions from Nigerians, especially DStv and GOtv subscribers, with many saying that the company was the cause of its woes.

Some of them, who joined the buzz on social media, said that they were no longer interested in subscribing to MultiChoice services because the prices were no longer affordable, considering current economic situation of the country.

@cashoggy: “They will still lose more subscribers. Internet and smart TV have rendered Dstv unattractive with their rate.

“Imagine paying 25,700 for a premium subscription when you can surf the internet and watch all the programs for less.”

Another Nigerian, @ gentle_t said: “Why we dey sub again when 2/4/7, many people are using their phones to watch what they want.”

@realbl posted: MultiChoice lost 243,000 subs because there is Multi-hunger in Nigeria. More so, there are now multiple choices replacing MultiChoice on our tablets when we need to watch soccer.”

@NdubuisiNC: “The downfall of this company in Nigeria will be televised and will be sweet to me.

“A company this big can’t improve on their content? Nigerians have cried for years about how boring it is, only football channels are what’s keeping most of us.”

@Jatiti_O wrote: “You people haven’t realized that people don’t watch TV anymore. They go out in the hot Sun to look for money.”

@ribaduabubakar2 said :“I subscribed to another platform and simply ignored them. They kept increasing the price as if someone would die without them. I am willing to give out my decoder and dish for free.”

@ekoh wrote: “Not only bad economy but also everyday increase in their monthly tariff. If they want to bounce back, they should cut their subscription price and make it a pay-as-you-go.”

NAN reports that this development is coming barely eight months after Competition and Consumer Protection Tribunal (CCPT) ordered suspension of tariffs hike by MultiChoice Nigeria.

The company had earlier in a statement entitled: ‘Price Adjustment on DStv and GOtv Packages’ announced price hike on both packages.

However, after the intrigues of series of legal battles, Multichoice Nigeria brazenly hiked the subscription rates for its DStv and GOtv packages, effective from May 1.

Bitcoin soared to a new record high on Sunday, as traders bet that Donald Trump’s return to the White House will be good for the cryptocurrency.

The digital currency passed $80,000 for the first time in its history shortly after 12:00 pm (1200 GMT).

It has been rising since Republican candidate Trump won last Tuesday’s US presidential election over sentiment that he will ease regulations on digital currencies.

Bitcoin reached $75,000 on Wednesday, topping its previous all-time peak of $73,797.98 achieved in March.

Trump was seen as the pro-crypto candidate in his battle with the Democratic Party’s candidate Kamala Harris.

During his first presidency Trump referred to cryptocurrencies as a scam, but has since radically changed his position, even launching his own platform for the unit.

He has pledged to make the United States the “bitcoin and cryptocurrency capital of the world,” and to put tech billionaire and right-wing conspiracy theorist Elon Musk in charge of a wide-ranging audit of governmental waste.

The previous Trump term saw corporate tax cuts that brought more liquidity to markets, encouraging investment into high-growth assets such as cryptocurrency.

Trump announced in  September that he, along with his sons and entrepreneurs, would launch a digital currency platform named World Liberty Financial.

But it had a faltering sales launch earlier this month, with only a fraction of its tokens that went on the market finding a buyer.

Cryptocurrencies have made headlines since their creation, from their extreme volatility to the collapse of several industry giants, foremost among them the FTX exchange platform.

In the run-up to the election, Trump apparently became the first former president to use bitcoin in a purchase, as he bought burgers at a New York City restaurant, which hailed it as a “historic transaction”.

Bitcoin is listed continuously, including on Sundays.

The dollar surged and bitcoin hit a record high Wednesday as traders bet on a victory for Donald Trump as he picked up key swing states needed to take the White House, ramping up bets on fresh tax cuts, tariffs and rising inflation.

While polls had shown the race on a knife edge, the Republican appeared to be faring better than his Democratic opponent Vice President Kamala Harris as results rolled in.

Both candidates picked up expected wins in safe states, but indications that the business tycoon was on course for a second term boosted the so-called Trump Trade.

The tycoon won Georgia and North Carolina, with others still up in the air, while US networks declared him the winner in key battleground Pennsylvania with Fox News calling the election in his favour.

News that the former president’s party had won control of the Senate boosted the prospect of sweeping tax cuts, more tariffs and deregulation — seen as a boost for the greenback.

The dollar jumped 1.5 percent to 154.33 yen, its highest since July, while it was also up more than one percent against the euro and more than three percent against the Mexican peso.

Bitcoin piled more than $6,000 higher to a record $75,371.69, topping its previous peak of $73,797.98 in March.

Trump has pledged to make the United States the “bitcoin and cryptocurrency capital of the world” and to put tech billionaire Elon Musk in charge of a wide-ranging audit of governmental waste.

“The price of bitcoin has closely followed Trump’s position in the polls and on betting markets,” Russ Mould, an analyst at AJ Bell, said ahead of Tuesday’s US election.

Investors are “potentially taking the view that a Republican victory would lead to a surge in demand for the digital currency”, he added.

Analysts said a clean sweep of Congress and the White House for Trump and Republicans would likely boost the dollar and Treasury yields owing to his plans to cut taxes and impose tariffs on imports.

Republican control of the Senate and House “could bring sweeping spending or tax policy shifts. Still, congressional gridlock could be the ultimate volatility suppressor”, said SPI Asset Management’s Stephen Innes.

And Peter Esho, economist and founder at Esho Capital, said: “The markets are scrambling to figure out what happens next, but for the time being, the market is pricing in a higher growth and higher inflation outlook.”

Such an outcome could provide a headache for Federal Reserve boss Jerome Powell as he continues his battle to bring inflation to heel, with Trump’s plans considered inflationary.

The election comes as the central bank prepares to deliver its latest policy decision Thursday amid expectations it will cut interest rates by 25 basis points, having lowered them by 50 points in September.

The dollar’s surge against the yen rallied stocks more than three percent in Tokyo at one point thanks to gains in exporters, while markets Sydney, Singapore, Taipei, Mumbai and Bangkok also rose.

However, there were losses in Shanghai, Seoul, Wellington, Manila and Jakarta.

Hong Kong was also well down — at one point diving almost three percent — on worries about the impact of a Trump presidency on China’s economy and relations between Beijing and Washington.

Traders had been given a strong lead from Wall Street, where all three main indexes climbed more than one percent.

While the result of the election is being closely followed globally, it is of real interest in China after Trump vowed to ratchet up a trade battle with the economic titan by imposing massive tariffs on goods from the country.

The vote comes as Chinese leaders hold a key meeting to hammer out a package of stimulus measures aimed at kickstarting growth and providing support to the colossal property sector, which is mired in a painful debt crisis.

– Key figures around 0710 GMT –

Dollar/yen: UP at 154.21 yen from 151.60 yen on Tuesday

Euro/dollar: DOWN at $1.0711 from $1.0930

Pound/dollar: DOWN at $1.2853 from $1.3035

Euro/pound: DOWN at 83.32 from 83.82 pence

Tokyo – Nikkei 225: UP 2.6 percent at 39,480.67 (close)

Hong Kong – Hang Seng Index: DOWN 2.6 percent at 20,467.69

Shanghai – Composite: DOWN 0.1 percent at 3,383.81 (close)

West Texas Intermediate: DOWN 1.9 percent at $70.59 per barrel

Brent North Sea Crude: DOWN 2.0 percent at $74.03 per barrel

New York – Dow: UP 1.0 percent at 42,221.88 (close)

London – FTSE 100: DOWN 0.1 percent at 8,172.39 (close)

Bitcoin soared to a new record high on Wednesday as traders bet on victory for Donald Trump in the US presidential race, with the tycoon seen as the pro-crypto candidate.

The digital currency hit as much as $75,005.08 at around 0300 GMT, topping its previous all-time peak of $73,797.98 achieved in March.

“The price of bitcoin has closely followed Trump’s position in the polls and on betting markets,” Russ Mould, an analyst at AJ Bell, said ahead of Tuesday’s US election.

Investors are “potentially taking the view that a Republican victory would lead to a surge in demand for the digital currency”, he added.

During his presidency Trump referred to cryptocurrencies as a scam but has since radically changed his position, even launching his own platform for the unit.

“A Trump victory could be the catalyst that pushes the world’s first and largest cryptocurrency into uncharted territory,” said Nigel Green of deVere, also before the vote.

“His return to office would likely have a renewed emphasis on deregulation, tax incentives, and economic policies favorable to alternative investments, such as Bitcoin,” Green added.

Trump has pledged to make the United States the “bitcoin and cryptocurrency capital of the world,” and to put tech billionaire and right-wing conspiracy theorist Elon Musk in charge of a wide-ranging audit of governmental waste.

The previous Trump term saw corporate tax cuts that brought more liquidity to markets, encouraging investment into high-growth assets such as cryptocurrency.

Trump announced in  September that he, along with his sons and entrepreneurs, would launch a digital currency platform named World Liberty Financial.

But it had a faltering sales launch earlier this month, with only a fraction of its tokens that went on the market finding a buyer.

World Liberty Financial enables users to lend or borrow cryptocurrencies to or from one another — a service already offered by many platforms, one of the best-known of which is Aave.

Cryptocurrencies have made headlines since their creation, from their extreme volatility to the collapse of several industry giants, foremost among them the FTX exchange platform.

In the run-up to the election, Trump apparently became the first former president to use bitcoin in a purchase, as he bought burgers at a New York City restaurant, which hailed it as a “historic transaction”.

“Who wants a hamburger?” Trump announced to fellow diners in September, days after he launched his platform.

The federal government has terminated the contract for the rehabilitation of the Abuja-Kaduna-Zaria-Kano Dual Carriageway with Contract No. 6350, Section I (Abuja-Kaduna), based on non-compliance with reviewed cost, scope, and terms, stoppage of work, and refusal to remobilize to the site by Messrs Julius Berger (Nig.) Plc.

The company was summoned for a meeting with the Management of the Federal Ministry of Works on 4th November 2024, but the contractor refused to show up, hence the termination of the contract based on effluxion of time and non-performance.

Minister of Works, David Umahi, through the Director of Press of the ministry, Mohammed S. Ahmed, said the decision for termination was borne out of several months of going back and forth without any meaningful progress reached at a management meeting of the Ministry.

According to Umahi, the Ministry has, in the last 13 months, been in constant talks with the company in order to reach an amiable position on the said alignment but to no avail.

Nigerians may wish to know that the contract, which was divided into three (3) sections, was awarded to Berger on 20th December 2017 and flagged off by Minister of Power, Works and Housing, Babatunde Fashola, at an initial sum of N155,748,178,425.50 billion.

He noted that on 18th June 2018, Sections II (Kaduna – Zaria) and III (Zaria – Kano) were partially completed and handed over during the former administration, adding that since then it has been one variation and augmentation after another, and finally, the present Minister of Works directed for the redesigning and re-scoping of Section I of the contract.

“The alignment was divided into two, with one phase redesigned to be on continuously reinforced concrete pavement (CRCP), while the remaining was with asphaltic pavement. Approval for Section I, Phase 1 for a length of 38 (thirty-eight) kilometres on concrete pavement was given to Messrs Dangote Industries (Nig.) Ltd, while the remaining 127 kilometres remained with the substantive contractor.”

He further explained that Phase 1 was flagged off on 17th October 2024 with a 14-month completion period, but due to the stalemate of the contract and, most importantly, the desire of President Bola Tinubu, as encapsulated in the Renewed Hope Agenda infrastructure initiative, to see to the completion of this laudable project.

The Works Minister also stated that, to alleviate the sufferings of Nigerians plying the road, the Ministry re-scoped it and got the approval of the Federal Executive Council.

The award for the re-scoping and downward review of the contract for the rehabilitation in favour of Messrs Julius Berger (Nig.) Plc from the sum of N797 billion to N740 billion was granted and conveyed to the company on 3rd October 2024.

“As due to the socio-economic importance of the road as a vital artery connecting Abuja, the FCT, to the North, the Ministry conveyed the approval for a Final Offer to the company on 23rd October 2024, stating that it should agree, in writing, to accept the reviewed contract sum of N740 billion within seven (7) days or risk the termination of the said contract.”

The Minister therefore said, “It is a sad commentary on the Company that rather than accepting the offer, they tinkered with the Bills of Quantities, as well as that of Engineering Measurements and Evaluation via a letter to the Ministry dated 29th October 2024.”

Gov. Lucky Aiyedatiwa of Ondo State has assured workers that his administration has no plan to downsize.

Aiyedatiwa made the promise on Monday in Akure during the Ondo State Public Service Week Celebration Lecture with the theme: “Creating and Managing a Future-Ready Public Service: A Pathway to Sustainable Development”.

The governor also assured the workers of his administration’s commitment to prompt and regular payment of salaries, allowances and pensions.

“The gradual recruitment into critical sectors of the Service to address acute personnel gaps will also continue as much as practicable.

“I want to assure you that even with the financial burden that all of these may attract, our administration will never ever contemplate downsising the workforce.

“In all honesty, the Public Service requires to be rejigged and equipped to upscale its roles and processes to meet the trends of best world practices in Public Administration.

“The time has come, therefore, for the Service to be more proactive, innovative, dynamic and be tech-driven.

“The capacity of the institutions and its operators must be enhanced for effective and efficient service delivery to justify the huge resources invested in it and to serve the society better.

“I have no doubt in my mind, therefore, that this forum will come with a great impartation for our public servants,” he said.
Aiyedatiwa, while assuring the workers of the payment of the new minimum wage, congratulated them for the 2024 celebration.

Earlier, the Head of Service, Mr Bayo Philip, appreciated the governor for his moral and physical support toward the welfare of public servants in the state.

Philip thanked the governor for the constant payment of workers’ salaries, key appointments, and the promotion of over 5,040 civil servants in the state.

He stressed the essential role of the public service in fostering forward-thinking governance and highlighted the administration’s commitment to regular salary payments, pensions and the provision of 2024 leave bonuses.