Business

FG Plans N100bn Free TV Distribution Network For Nollywood

Published

8 years ago

October 13, 2017

The Minister for Information and Culture Alhaji Lai Mohammed has stated that the Federal Government has concluded plans to launch a N100 billion per annum free television distribution network to boost the Nollywood industry in Nigeria.
Mohammed stated this at the formal commissioning of the Gospel Digital Technology, Ultra-Modern Surface Mount Technology (SMT) set top boxes manufacturing plant at the Free Zone Enterprise in Calabar, saying that the gesture is intended to grow the economy of the movie industry in the country.
In his words, “today if you want to buy a Nollywood film, you either go to the Alaba market or you go and buy from the authorised shops, but with this network, it is now possible for millions of Nigerians to buy on demand. We call it video on demand. It is part of the facilities available on this set top boxes, which means you can buy online. Imagine if 20 million people order a film in on day, it would grow the economy of Nollywood.”
The information and culture minister described the commissioning as a significant milestone in the country’s journey towards attaining technological self-reliance, stressing that it was impressive that the factory can produce 2.4 million set top boxes annually, adding that it was a long held dream brought to fruition earlier than expected.
Mohammed lauded investors for exhibiting confidence in the digital switch over programme of the Federal Government.
Also speaking at the event,Chairman of the board of Gospel Digital Technology, Mazi Sam Ohuabunwa said the factory will not only assemble set up boxes but also be involved in the production of other electronics.
The board chairman commended the Federal Government and other stakeholders for their support for them as the company to provide the set top boxes for the country’s digital switch over.
Group Managing Director of Gospel Digital Technology, Sir Godfrey Ohuabunwa also said, “In addition to DTT and DTH we are witnessing pioneering efforts in local production by commissioning three SMT automatic chip placement lines and four pneumatic assembly lines with the capacity of placing 250, 000 components per hour and production of 200,000 STB per month and also manufacture 100, 000 printed circuit boards per month.
“By this reckoning, the company is one of very few that you can find anywhere in the West African sub-region and is also capable of manufacturing, TV decoders, prepaid electricity metres, smart phones TV main boards, tablets and all kinds of electronic devices.
“In addition to the above, the most cheering aspect is the jobs that will be created as well as the technological knowledge acquisition that comes with this commissioning. I can say with all sense of responsibility that within the exercise between 300 and 500 jobs will be created and within the next few years, this will go a long way in reducing some of the societal ills associated with idleness.” He maintained.
Earlier in his remarks, the Director General of the Nigeria Broadcast Commission (NBC), Mallam Ishaq Modibo Kawu, congratulated Gospel for and impressive work.
Kawu averred that theirs is the first SMT production line in West Africa and would open up avenues of digital revolution in the country, as well as create opportunities for young people.
Speaking also at the ceremony, Cross River State governor, Prof. Ben Ayade, pointed out that the state was the right place for business and promised to partner with the company.
Our Correspondent however reports that the Cross River State governor ordered for 5000 set top boxes at the commissioning.

Friday Nwagbara, Calabar

Business

PENGASSAN Tasks Multinationals On Workers’ Salary Increase

Published

3 weeks ago

December 8, 2025

The Tide

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has asked companies in the oil and gas sector to undertake urgent review of salaries of their workers in view of the prevailing harsh economic conditions in the country.

Also, the pensioners of Chevron Nigeria, under the aegis PenCoN, have lauded the President of PENGASSAN, Comrade Festus Osifo and his executive on their unrelenting efforts toward addressing pension abnormalities faced by retired workers in the oil and gas industry.

The association also appealed to the federal government to take necessary measures to check banditry and terrorist activities in parts of the country.

PENGASSAN President, Osifo who addressed journalists shortly after the National Executive Council meeting of the association in Abuja, at the weekend, said that though a lot of success has been recorded in negotiating salary reviews for its members, there are still organisations that have failed to lift their workers from the present harsh economic situation.

He said within this period, PENGASSAN has signed numerous Collective Bargaining Agreements (CBAs) which has brought smiles to the faces of its teeming members.

“This is because we recognise that our job, literally, is how to protect the job of our members, and how to enhance their pay,” he said.

Osifo said that operators in the oil and gas sectors always go for the best qualified professionals to carry out their operations.

“So, the same way they recruit the best, we also challenge them to provide the best condition of service and provide the best remuneration.

“Yes, today, a lot of companies will have achieved successes, but there are still few that we are still discussing at their CBAs, that we are not yet there.

“We still use this opportunity to call on these companies that are still foot dragging, that are still holding back, even with the massive devaluation that has occurred in our country, that still don’t want to fix the remuneration of our members.

“We are calling on them to do the needful, because for us in PENGASSAN we will push without holding back. We will push, using everything in our arsenal, to ensure that the needful is done,” he said.

Osifo spoke of the dispute with the Dangote Refinery group, saying there are still pending issues to be resolved.

“Gentlemen of the press, during the networking session, we also looked at the issues that are plaguing some of our branches, and you know that recently, we had some challenges in Dangote Refinery and PetroChemicals Ltd.

“And within this period, since our last National Industrial Action, we have been engaging them in a lot of conversations, but the issues are not fully resolved. There are still a lot of pending issues.

“Yes, the NEC decided that, yes, let us still consummate that process by pushing those issues, by engaging in dialogue to resolve the issues, and by also engaging all our social partners and stakeholders to get the issues resolved,” he said.

Business

SEC Unveils Digital Regulatory Hub To Boost Oversight Across Financial Markets

Published

3 weeks ago

December 8, 2025

The Tide

The Securities and Exchange Commission (SEC) has launched the Regulatory Hub, a new centralized digital platform designed to streamline collaboration, strengthen oversight, and improve transparency across Nigeria’s financial and capital market ecosystem.

The Commission disclosed this in a statement posted on its website.

According to the commission, the platform connects key regulatory and security institutions including the Office of the National Security Adviser (NSA), the Central Bank of Nigeria (CBN), Economic and Financial Crimes Commission (EFCC), Federal Inland Revenue Service (FIRS), and Corporate Affairs Commission (CAC), enabling them to exchange information securely and in real time.

The launch of this regulatory hub comes ahead of the implementation of new tax laws in January 2026, with agencies such as the FIRS spreading its tentacles across sector to monitor compliance.

According to the SEC Director-General, Emomotimi Agama, the launch marks a significant step toward modernizing Nigeria’s regulatory framework through technology.

“The Regulatory Hub is a major step in our commitment to leverage technology for stronger regulatory synergy. By connecting regulators on one platform, we are building resilience, enhancing market integrity, and promoting investor confidence,” he said.

The SEC said the platform would help reduce bottlenecks in regulatory processes and facilitate faster, more informed decision-making across agencies.

Reinforcing the DG’s comments, the Executive Commissioner, Operations, Bola Ajomale, highlighted the operational benefits of the new system.

“The platform will significantly improve the timeliness and quality of regulatory decision-making. It provides a single window for regulators to share data, respond to requests, and collaborate seamlessly in safeguarding our financial and capital markets,” he said.

The commission believes the Regulatory Hub would support its broader mandate to strengthen investor protection, enhance market stability, and harmonize regulatory activities across the financial sector.

It urged stakeholders to initiate interest by emailing the Commission, adding that once registered, participants would be able to access the Hub and take advantage of its features.

Business

NAFDAC Decries Circulation Of Prohibited Food Items In markets …….Orders Vendors’ Immediate Cessation Of Dealings With Products

Published

3 weeks ago

December 8, 2025

The Tide

The National Agency for Food and Drug Administration and Control (NAFDAC) has raised an alarm over the growing circulation of banned food products across markets in the country.

The agency, in a Press Release dated 6 December 2025, warned that these items including pasta, noodles, sugar and tomato paste are expressly listed on the Federal Government’s Customs Prohibition List and are illegal to import.

NAFDAC stated that the sale and distribution of such prohibited items violate national trade laws, compromise the integrity of Nigeria’s food control system, and pose significant public health risks, as they have not undergone the agency’s mandatory safety and quality evaluations.

Importers, market traders, and supermarket operators have therefore, been directed to immediately cease all dealings in these items and to notify their supply chain partners to halt transactions involving prohibited products.

The agency emphasized that failure to comply will attract strict enforcement measures, including seizure and destruction of goods, suspension or revocation of operational licences, and prosecution under relevant laws.

The statement said “The National Agency for Food and Drug Administration and Control (NAFDAC) has raised an alarm over the growing incidence of smuggling, sale, and distribution of regulated food products such as pasta, noodles, sugar, and tomato paste currently found in markets across the country.

“These products are expressly listed on the Federal Government’s Customs Prohibition List and are not permitted for importation”.

NAFDAC also called on other government bodies, including the Nigeria Customs Service, Nigeria Immigration Service(NIS) Standards Organisation of Nigeria (SON), Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), Nigeria Shippers Council, and the Nigeria Agricultural Quarantine Service (NAQS), to collaborate in enforcing the ban on these unsafe products.

By: Lady Godknows Ogbulu