The Nigerian government has revealed that the creation and introduction of a new satellite-based television service aligns with Nigerians’ aspirations to benefit from the profitable opportunities available to Investors in the country’s economy. During the unveiling of Silver Lake Television (SLTV), an indigenous Nigerian satellite TV, in Abuja, Secretary to the Government of the Federation, Senator George Akume, highlighted the importance of this new platform as a reliable alternative that meets the needs and expectations of Nigerians, providing them with quality content for a fair price.
He praised Metrodigital Limited’s management for their patriotic decision to establish satellite television services. He acknowledged that the company understands the Federal Government’s dedication to promoting free and responsible broadcasting in Nigeria through strong policies and legal regulations. Recently, there has been a growing demand among Nigerians for different options for traditional satellite pay TV services. SLTV has taken notice of this demand and is committed to providing high-quality, affordable services to their fellow citizens. They are dedicated to offering real value for money and ensuring customer satisfaction.
Legal structures will encourage fair competition and responsible services.
Ever since becoming the country’s leader, the President has implemented extensive policy changes aimed at economic recovery. One of the outcomes is the implementation of strong policies and legal structures to encourage fair competition and responsible broadcasting services in Nigeria, with a focus on eliminating monopolies and unfair market practices. In Nigeria, there is a unique and unparalleled opportunity that cannot be matched or discovered anywhere else in the world. The government is committed to fully supporting SLTV Management as they conduct their lawful activities in the Nigerian broadcast sector.
Also, Dr. Ifeanyi Nwafor, the Managing Director of Metrodigital Limited, expressed disappointment that the development of pay TV in Nigeria has been hindered by monopolistic policies and legal structures. Despite this, he mentioned that his company is optimistic about investing in the industry due to the government’s recent efforts to tackle the problem. The Nigerian pay TV sector has failed to experience the same rapid and successful expansion as seen in other regions since its establishment.
Industry dominancy practices will be eliminated with the new move.
Speaking further, he explained that the industry participants’ practices and approaches are heavily influenced by policies and legal frameworks, resulting in the dominance of certain players and the establishment of monopolistic practices. These practices have stifled Innovation and growth in the industry, ultimately leading to a decline in the quality of service provided. Okafor expressed satisfaction with the Federal Government of Nigeria’s recent efforts to tackle some of the root issues, noting that it is a positive development.
During the ceremony, Charles Ebuebu, the Director General and CEO of the Nigerian Broadcasting Commission, addressed the media and mentioned that the commission would explore the suggestion from Nigerian pay satellite TV customers regarding pay-per-view choices. He noted that this would involve renegotiating existing contracts with content providers and stated that any feasible options would be considered. One thing to consider is that discussions should sometimes begin at the point of content acquisition. Typically, content is acquired through licensing on a monthly or annual basis, with a 30-day window for access.
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Ebuebu confirmed that the commission will investigate the issue of content overpricing, noting that the overall economic conditions in the country impact every sector of the economy, not just broadcasting. So, when prices go up, it is a reflection of the overall economic situation, not just a problem within the industry. Despite acknowledging instances of exploitation in certain areas, NBC is actively reviewing policies and regulations to foster a competitive broadcasting ecosystem. Consumers will have the power to choose, allowing market forces to dictate prices in a non-exploitative manner.