Brands/Products
Rite Foods Restates Commitment to Nigerian Economy
By Aduragbemi Omiyale
A leading indigenous company in the food and beverage industry, Rite Foods Limited, has reaffirmed its commitment to the Nigerian economy.
The firm, in a statement to celebrate the nation’s 64th Independence Day, promised to continue to foster economic growth of the country while delighting its consumers with high-quality products.
According to the Managing Director of Rite Foods, Mr Seleem Adegunwa, the organisation takes this important milestone anniversary to reflect on the country’s progressive history and potential as a great nation, saying it serves as a reminder of the sacrifices made by visionary leaders and nationalists who worked tirelessly to assert the nation’s foundation of self-governance.
“As a truly world-class and proudly Nigerian company with a commitment to excellence and innovation, Rite Foods Limited takes this important milestone anniversary to reflect on the country’s progressive history and potential as a great nation.
“We will continue to foster economic growth of the country while delighting our consumers with high-quality products,” he said, affirming that Rite Foods will continue to contribute its quota to Nigeria’s economic prosperity through investments in the country, promotion of Nigerian brands, and through employment opportunities to enhance the well-being of Nigerians.
He stated that the company would continue to celebrate with the country and identify with her in the pursuit of a good cause that leads to growth in all spheres of endeavours, hence its support and sponsorship of worthy initiatives that add value to lives in the technology, entertainment, and sports sector.
Mr Adegunwa said that as a nation, Independence Day is an opportunity to chart a course towards greater socio-economic and political development if the values of our early statesmen who worked effortlessly to build a better country are embraced.
The Rite Foods’ boss stated that the anniversary celebration should be a time to look back on our past achievements, and challenges, and, to help propel the country toward a brighter future.
Rite Foods is deeply rooted in Nigeria’s heritage, and takes pride in contributing to its growth, with its 13 variants of the Bigi Carbonated Soft Drink, the Bigi Table Water, its premium Sosa Fruit Drink, the number one energy drink in the country, the Fearless Classic and Red Berry variants, as well as the Rite and Bigi Sausages.
Laurels credited to the brands include the “Most Innovative Carbonated Soft Drink Brand of the Year” for the Bigi brand, the “Most Outstanding Energy Drink in Consumer Engagement” for its number-one energy drink, the Fearless brand; “Best Value for Money – Carbonated Drink Brand 2023” for Bigi Cola; “Best Value for Money – Energy Drinks Brand 2023” for Fearless Energy Drink; and “Best Value for Money – Sausage Brand 2023” for Bigi Beef Sausage Roll. Also, the premium Sosa Fruit Drink won the “Outstanding New Product of the Year – Juice” in 2023, among others.
By Aduragbemi Omiyale
The Ecobank Pan African Centre (EPAC) in Lagos, venue of the ongoing 2025 Design and Innovation Exhibition, is bubbling with activities as top young innovators from across the country are showcasing their arts.
The event, running from Tuesday, February 25 to Sunday, March 2, showcases the immense potential within Nigeria’s manufacturing and creative industries.
The exhibition, themed Building a Made-in-Nigeria Brand, aims to emphasize the creativity, innovation, and craftsmanship of Nigerian designers while highlighting the importance of industrialization and export.
It also reflects a commitment to developing a sustainable industrial ecosystem that supports local talent and fosters economic growth across Africa. The exhibition is featuring 58 designers, including collaborations between manufacturers and designers, offering a glimpse into the future of Nigerian design.
The Minister of Art, Culture, Tourism, and the Creative Economy, Ms Hannatu Musa Musawa, who attended the programme, stressed the importance of strengthening the synergy between Nigerian creativity and manufacturing.
“By leveraging our country’s rich creative resources, we can modernize products, promote locally-made furniture, and build stronger economic connections,” Ms Musawa said, reaffirming the federal government’s support for such initiatives.
The Managing Director and Regional Executive of Ecobank Nigeria, Mr Bolaji Lawal, represented the Head of SME, Partnerships, and Collaboration at Ecobank, Omoboye Odu, said, “The success of SMEs is key to transforming Nigeria’s economy, and we recognize the importance of collaborating with the right partners. Titi Ogufere and Design Week Lagos are the perfect fit for us to help elevate Nigerian creatives and provide a platform to scale their businesses.”
On her part, the founder of Design Week Lagos, Ms Titi Ogufere, said, “This exhibition is a testament to the talent and hard work happening in Nigeria’s creative industries.
“We’re here to celebrate and showcase the potential of our local designers and manufacturers. The global design industry offers immense opportunities, and with more support, Nigerian designers can truly thrive on the world stage.
“We have a wealth of untapped creative potential in Nigeria. It’s time for us to shift focus from foreign markets and showcase what we can do right here at home. The global furniture market alone is valued at over $700 billion, and Nigerian designers can carve out a significant share of that.”
Leading pay television service provider, MultiChoice Nigeria, plans to offer a support package for DStv and GOtv subscribers.
In a message to subscribers on Monday, the company stated that starting from March 1, 2025, the new tariffs would apply to DStv and GOtv packages.
According to the company, DStv and GOtv subscribers who renew their subscriptions before the expiration date will be exempt from the new rates for a specified time as a reward for their loyalty.
Additionally, subscribers on both platforms can take advantage of extra benefits through the Step Up offer, which began in January and will continue until March 31.
The Step Up offer expands access to premium content by enabling both active and disconnected DStv and GOtv subscribers to enjoy content beyond their current package through an automatic upgrade to a higher package on payment for a package above their current subscription.
As part of the palliative package, MultiChoice will announce a reduction in the subscription for Showmax, its streaming service, on February 28. This aims to provide customers with more affordable access to live sports, movies, and general entertainment.
The latest price review puts the cost of the DStv Compact bouquet N19,000 and the Compact Plus at N30,000. DStv Premium subscription will rise to N44,500.
Similarly, GOtv Supa customers will henceforth pay N16,800, while those on Supa will pay N11,400. The tariff on GOtv Max moves to N8,500, while that of GOtv Jinja moves to N3,900.
These adjustments come as MultiChoice seeks to balance operational costs with continued access to premium entertainment for its subscribers.
By Adedapo Adesanya
The Federal Competition and Consumer Protection Commission (FCCPC) has summoned MultiChoice Nigeria over its move to hike subscription rates for DStv and GoTV services.
The call came as the broadcaster hiked its DStv premium bouquet to N44,500 from the N37,000 price, subscribers on the Compact+ would start paying N30,000 as against the current fee of N25,000 among others.
According to MultiChoice, the new rates take effect from March 1, 2025.
Now, the consumer rights agency has stepped in and summoned MultiChoice Nigeria and its chief executive to a hearing at the agency’s headquarters on Thursday, February 27.
According to a statement signed by FCCPC’s Director of Corporate Affairs, Mr Ondaje Ijagwu, it is deeply concerned over the pay-TV company’s proposal amid accusations that MultiChoice applies different pricing strategies in other markets.
“The Federal Competition and Consumer Protection Commission (FCCPC) has summoned MultiChoice Nigeria to explain its proposed subscription price increase, set to take effect on March 1, 2025,” a part of the statement on Tuesday evening disclosed.
“Exercising its mandate under Sections 32 and 33 of the FCCPA, the FCCPC directed the Chief Executive Officer of MultiChoice Nigeria to attend an investigative hearing at the Commission’s headquarters on Thursday, February 27, 2025.
“This action follows MultiChoice’s formal notification of the price adjustment, which raises concerns about recurrent unilateral price hikes, potential market dominance abuse, and perceived anti-competitive practices in the pay-TV industry,” it added.
The FCCPC also promised to “impose regulatory penalties, sanctions, or other corrective measures” on MultiChoice should it “fail to provide satisfactory explanations or be found in violation of fair market principles.”
The agency said this is to “protect Nigerian consumers” and that is it already “engaging the sector regulator and other relevant agencies to ensure fair competition and consumer protection within Nigeria’s broadcasting and digital subscription landscape”.
Multichoice decision to hike its prices comes amid inflationary challenges in core markets.
In Nigeria, a sharp decline in the Naira led to a 32 per cent decline in its Dollar revenue in 2024.
This is as it faced a broader 9 per cent decline in total active subscribers across Africa with subscriber numbers dropping by 13 per cent in Nigeria, Angola, Kenya, and Zambia.
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