The FCCPC has ordered MultiChoice Nigeria to keep its subscription prices steady pending the outcome of an investigation into its proposed price hike. A rescheduled hearing is set for March 6, 2025, where MultiChoice must provide a comprehensive account regarding its pricing strategies, amid concerns of potential market abuse.
The Federal Competition and Consumer Protection Commission (FCCPC) has instructed MultiChoice Nigeria to refrain from increasing subscription prices during an ongoing investigation regarding the company’s proposed price hike. Following MultiChoice’s request for an extension concerning its scheduled appearance, the FCCPC has granted this request but has mandated the company to present a comprehensive response at a rescheduled hearing on March 6, 2025.
The FCCPC’s directive necessitates that MultiChoice maintains its pricing structure as of February 27, 2025, until a resolution is reached. This precautionary measure aims to prevent consumer detriment amid the investigation into MultiChoice’s planned subscription price increase set for March 1, 2025.
Concerns have been raised by the Commission regarding MultiChoice Nigeria’s habitual and unilateral price hikes, suggesting possible abuse of market dominance and anti-competitive practices within Nigeria’s broadcasting industry. According to Ondaje Ijagwu, the FCCPC’s Director of Corporate Affairs, the Commission is also collaborating with relevant regulatory bodies to ensure equitable competition within the digital subscription market.
The FCCPC expressed alarm over the frequent price adjustments faced by consumers in Nigeria, emphasizing the discrepancy in pricing strategies employed by MultiChoice in different markets, which raises fairness and market abuse issues. The Commission has warned that failure to provide an adequate justification or violation of fair market principles could lead to regulatory sanctions or corrective actions to protect consumer rights.
Updates regarding the investigation will be communicated as developments occur. The FCCPC is committed to its mission of safeguarding consumer interests while ensuring a competitive marketplace.
In conclusion, the FCCPC has intervened to halt MultiChoice Nigeria’s proposed price increase until an investigation is concluded. The Commission’s actions reflect concerns about consumer protection and fairness in pricing practices, as well as a commitment to maintaining a competitive environment within Nigeria’s broadcasting sector. The situation will continue to be monitored, and further updates will be communicated as they transpire.
Original Source: businessday.ng
