The Federal Competition and Consumer Protection Commission (FCCPC) has instructed MultiChoice to maintain current pricing amidst an investigation into the proposed tariff increase.
FCCPC Investigation
FCCPC launched an investigation following MultiChoice's announcement to raise tariffs. The commission has requested detailed explanations and participation from the company's CEO in the hearing, rescheduled to March 6, 2025.
Reasons for MultiChoice Price Increase
MultiChoice cited Nigeria's economic challenges, including naira depreciation, high energy costs, and 24.48% inflation in January 2025, as reasons for the price hike. The company states this is necessary to continue providing quality content.
Impact on Consumers and Competition
Consumers are concerned about frequent price hikes. FCCPC is worried about potential unfair competition and market abuse. The price hike raises questions regarding fairness and ethics.
FCCPC is committed to ensuring fair competition and consumer protection in Nigeria. Final decisions will be made after the investigation concludes.
