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Unique Selling Point in the Den

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Dragons Den Nigeria has empowered young entrepreneurs across the country with business advice from five experienced and successful businesspersons selected from various sectors of the economy.

However, only two entrepreneurs – Yusuf who got an investment of 10 million naira in his business "

Naijacities.com"and Alsu Odewinge who got 3 million naira investment for her "Start-Up City" business – have been able to convince the dragons enough.

The first entrepreneur in this episode, Idowu Oluwakayode, came to the den seeking a 15 million naira investment (for 40% equity) from the dragons to boost his product "H2Jo"- which according to him was a new idea developed to fizzle out the production of water in sachets.

He was to package table water in 50cl plastic cups, an idea that put him under the dragons’ fire. The last straw however was when he stated he was going to recycle the containers to which Ishmael was quick to point out the health implications – he got no investment.

Martin the second entrepreneur had come to the den seeking 50 million naira in exchange for 20% equity in his business "Doctor-on-Phone" which would offer assistance during medical emergencies via the telephone.

The dragons considered the idea a high-risk one since he was not sure of the availability of medical doctors at the time of distress, the absence of physical contact between the doctors and patients to be able to make diagnosis and lastly, the legal implications of falling short of service.

Martin got no deal.

The third entrepreneur, Oluwaseun Kayode needed 2 million naira for his business of designing books in African fabric covers and was ready to part with 30% equity. His current unit production cost was estimated at about 550 naira, and he intended to retail the books at 700 naira.

However, Awosika and Parkes observed that the prototype he presented was not well done and so, the dragons lost faith in that venture.

Ibrahim Jairo was the fourth entrepreneur who came with a proposition to establish a computer gaming arcade in Abuja, and was looking for N9,995,000 (nine million, nine hundred and ninety-five thousand naira).

The idea raised serious copyright issues. This coupled with the fact that he did not conduct an extensive feasibility study of the business sent him out of the Den without a deal.

The fifth entrepreneurs, Frank and Erastus wanted 4.5 million naira to give up 20% equity in their business, "Nigerian Sales Genie", a site where people can come buy and sell products and services. In other words, an online-classified advert portal.

On close examination, the dragons discovered they had not laid any foundation for this business and Amosu’s final comment decided their fate.

They had lost out but with words of encouragement from Momoh.

Babajide Oyeleye, the sixth entrepreneur came seeking 18 million naira for "Emergency Kits for Cars" in exchange of 40% equity in the business.

He came to display towing ropes assembled in Nigeria, to help motorists when they experience vehicle breakdowns. But the dragons aptly pointed out that the business had no uniqueness and no testimonial from any monitoring organization like the Road Safety Commission of Nigeria – they opted out.

The last entrepreneurs for this episode were the siblings Nuyin and Damilola, who came to raise 30 million naira in exchange for 40% equity in their "24-hour Electrical and Electronics Repair Centre," that could provide solutions to every electrical need within Lagos once the customer dials their company.

Well, the dragons did not invest but the trio of Awosika, Parkes, and Ishmael offered them an opportunity to return for more talks when they have prepared a more functional business plan. .


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OJI Demands Ban on Netflix, TikTok, Others over Same-Sex Content

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Civil Society Organisation (CSO) under the auspices of Open Justice Initiative (OJI), has threatened to drag the National Broadcasting Commission (NBC) to court if it fails to ban Netflix, TikTok, and others over the alleged broadcast of offensive same-sex content on Nigeria’s airwaves.

OJI Demands Ban on Netflix, TikTok, Others over Same-Sex Content

The CSO, also urged NBC to ban other social media platforms, including X, formerly known as Twitter, Facebook, etc with regard to the subject matter.

Donald Ayibiowu, lawyer and programme officer of OJI, gave the warning in a letter addressed to Mr. Charles Ebuebu, director-general of the NBC.

The certified true copy of the letter titled: “Need to ban and bar the continuous broadcast of offensive same-sex contents on Nigeria’s airwaves by Netflix and other specialised broadcast outlets”, made available to newsmen in Abuja, was received by the Commission on April 23, 2024.

The letter said, “We write to draw the esteem attention of your commission to some obnoxious and repugnant same-sex contents being aired or transmitted by some broadcast outfits operating within the Nigeria broadcast space, which platforms includes Netflix and some social media entities.

“These abhorrent contents being campaigned about borders on the promotion of amorous relationships between persons of same sex on the said platforms.

“We received complaints on this topic from well-meaning Nigerians and religious organisations and further discovered that the broadcast contents/materials on these platforms are laced with embedded scenes/episodes where same-sex relationships are practically being propagated.

“We also conducted research on some social media platforms like TikTok, Twitter (X), Facebook (Meta), etc with regards to this subject, and found same hazardous and illegal same-sex content being promoted and transmitted.

“It is clear that there is an agenda to surreptitiously lure the unsuspecting young population of this country to this satanic habit/lifestyle of same-sex practice in Nigeria by subtly introducing same through entertainment and showbiz industry, albeit through the airwaves.

“It is now commonplace to see some of these illegal contents being conveyed on social media and specialised platforms in Nigeria.

“We wish to point out that these contents are clearly being aired or transmitted in contravention of our extant laws such as Sections 4(2) and 5(2} of the Same-Sex Mariage (Prohibition) Act, 2013,” he said.

The lawyer said the act being subtly propagated and promoted via the mediums was targeted at destroying the moral fibre and rectitude, erode, dislodging and polluting the society with unacceptable inhuman values.

He said it was also to erode the age-long cultural practices and sacred religious belief system of male and female gender only as created by God Almighty.

Ayibiowu said, that if the commission failed to block, restrict or scrap the same-sex promotional material/contents from Nigeria airwaves, “we shall proceed to seek further redress in pursuit of our goal of saner Nigeria airwaves”.

 

 


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FCCPC to Review Multichoice’s Tariff Hike

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Federal Competition and Consumer Protection Commission (FCCPC) has promised to review recent price increases in MultiChoice cable subscriptions to ensure subscribers in Nigeria get value for their money.

FCCPC to Review Multichoice’s Tariff Hike

Recall that the leading pay TV operator, recently announced increase in the subscriptions for its DStv and GOtv packages by at least 25 per cent.

Multichoice announced the increase in tarrifs in a message sent to subscribers on Wednesday and said that the new regime will be effective May 1.

The company stated this in the statement signed by John Ugbe, chief executive officer was titled, ‘Price Adjustment on DStv and GOtv Packages.’

The pay-TV firm cited the rise in the cost of business operations as the rationale behind the price increase.

The company said, “We understand the impact this change may have on you – our valued customer, but the rise in the cost of business operations, has led us to make this difficult decision.

“It remains our mission to provide the best entertainment and viewing experience to you and are committed to continue to deliver high-quality content and unparalleled service. So, from Wednesday, 1 May 2024, the price adjustment will take effect.”

But Adamu Abdullahi, acting chief executive officer, FCCPC, in a chat with Channels Television on its Dateline Abuja programme on Thursday, provided an update on the summons issued to the owner of a Chinese store in Abuja accused of discriminatory and sharp practices.

He also commented on the adherence to the order given to the Abuja Electricity Distribution Company, stating that sanctions are imminent for all verified infractions identified by the agency.

 


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NCC Seeks Media Collaboration on Copyright Infringement

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The Nigerian Copyright Commission (NCC) has called for effective collaboration with the media in the country towards tackling the menace of copyright infringements.

The Director-General of the commission, Dr. John Asein, who made the call at a media parley in Ibadan, said while the commission has the power to arrest and prosecute people involved in copyright infringements, it still needs the support of journalists to achieve its aims, maintaining that copyright infringements have negative impact on authors and the society as a whole.

He said: “We need your support to stamp out copyright infringements. This means we all have responsibility.

“We have the power to search, arrest and prosecute. But, we rely on police, NSCDC and other security agencies so as to get it done. We have a good working relationship with the security agencies. The problem of enforcement is real.”

The Executive Secretary, Nigerian Publishers Association (NPA), Mr. Emmanuel Abimbola, in his contributions, urged governors of Southwest states to reduce fees charged on book review for publishers, stating that this will reduce cost of books in the markets which has become a burden to most parents in the country.

He insisted that fees charged on book review by government agencies particularly in the region is becoming exorbitant.

According to him, an official of one of the states once said that the exorbitant fee charged was a means of generating revenue which should not be so because education must be seen as a social service.

He said: “We don’t really have much problem with the government of other region because some of them only charge flat rate for the book review which we publishers are ready to cope with.

“However, we are calling on the government of states in the Southwest to stop the exorbitant fee, it is becoming too much, a situation whereby we are asked to pay N10,000 or N12,000 per book title, by the time you calculated it, it will be going to N2 to N3 million.


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