Brands/Products
How to Choose an Ideal Price for Your Product

By Emmanuel Otori
The price of a product determines what customer segment would make demands for them and determines its classification as a luxury good or one for the middle class. There are many factors used in determining the price of a product or service and they can determine your market share.
- The Price of Your Competition
Your competition comprises those who have been in the market and established a name, a growing brand, and a network, they could be a startup like you and already have a differentiating factor to make customers rethink should they consider switching to a different product.
You should consider your price range falling into what is affordable for both the existing and new products, therefore, making room for flexibility to accommodate the needed change when it arises. This shouldn’t mean copying what the competition is doing, but watching the changes made by them can give a signal of not just holding the market share but also establishing new connections.
- Your Suppliers or Service Providers
The supply chain is a key factor in the delivery of a superb product or service. Some organizations have created synergy with suppliers that make raw materials available all year round and at a stable price, and this helps with consistency, however, this would not always be the case as the price could change, transportation costs could increase or loss due to theft. A selection of suppliers with quality service, integrity and proximity to raw materials is the best bet that can make the product or service delivered at a reasonable price.
- Packaging of Your Product
Most products are branded with materials that make the exterior attractive to the customer and take a percentage of what the selling price would be. The acceptance of the “going green” form of packaging that considers reduction in the use of polyethene is gaining recognition, if affordability for your company is fair, and then adopting a material that doesn’t pose environmental hazards, is cheap and easily disposable would make a good price for your product.
- Energy needs
Most businesses depend on the power grid for their energy needs and this is a recurring expense that needs to be put into the budget to avoid interruptions in power supply which would affect the day-to-day operations of your business. To complement your primary source of energy, it is of valuable consideration to put in place alternative sources of energy. In determining the overall cost used in producing your goods, the power supply is pivotal.
- Cost of Goods
The cost incurred in making a product is referred to as the “cost of goods”, which involves the expense of procuring raw materials, the wage of the labour force, processing, packaging and energy needs. This cost excludes transportation and distribution. Profit on any product or service can only be determined with accuracy when the COGS (Cost of Goods Sold) is known and leading to the possibility of making a sales forecast to know how many units of goods were produced and if all were sold, how much would be recorded as revenue.
Brands/Products
FCCPC Sues MultiChoice Over Alleged Violations

By Adedapo Adesanya
The Federal Competition and Consumer Protection Commission (FCCPC) has announced that it has formally instituted legal proceedings against MultiChoice Nigeria Limited amid a tussle to increase prices in the Nigerian market.
Also named in the action is Multichoice’s chief executive, Mr John Ugbe, for allegedly violating regulatory directives, obstructing an ongoing inquiry and engaging in conduct deemed violations of the provisions of the Federal Competition and Consumer Protection Act (FCCPA) 2018.
Recall that the FCCPC directed MultiChoice Nigeria on February 27, 2025 to maintain its pricing structure for DStv and GOtv pending the conclusion of an examination of its proposed price hike.
However, despite this directive, the company proceeded with its price increase on March 1, 2025. FCCPC said this is “in clear defiance of the commission’s directive.”
“Following this blatant disregard for regulatory oversight, the FCCPC has filed charges against MultiChoice Nigeria and John Ugbe at the Federal High Court, Lagos Judicial Division, on three counts of offences under the FCCPA 2018, specifically for willfully obstructing the Commission’s inquiry by implementing a price hike contrary to directives (Section 33(4)), impeding the ongoing investigation by ignoring instructions to suspend the hike (Section 110), and attempting to mislead the Commission by proceeding with the increase without objection (Section 159(2), punishable under Section 159(4)(a) and (b)),” a statement on Wednesday read in parts.
The FCCPC alleged that MultiChoice’s actions were “deliberate and calculated attempt to undermine regulatory authority, disrupt market fairness, and deny Nigerian consumers the protection afforded under the law,” adding that “By disregarding the FCCPC’s directive and implementing the price hike before appearing before the Commission’s investigative hearing on March 6, 2025, MultiChoice has not only flouted regulatory processes but also demonstrated a pattern of conduct that undermines consumer rights and fair competition.”
The FCCPC also threatened to pursue other punishments for the broadcasting company.
“In addition to these legal actions, the FCCPC is reviewing further enforcement measures, including sanctions, penalties, and regulatory interventions, to ensure compliance and accountability,” it added in the statement signed by Mr Ondaje Ijagwu, its Director of Corporate Affairs.
Brands/Products
5G Connectivity: MTN Takes Go MAD Campaign to Calabar

By Modupe Gbadeyanka
The Go Make A Difference (M.A.D) campaign train of MTN Nigeria made a brief stop-over in Calabar, Cross River State on Friday, February 28, 2025.
The event showcased icons who embody the Go M.A.D message, including Dr. E Osim, a childcare practitioner and techpreneur, who shared how MTN’s connectivity enabled his UNICEF volunteer work.
“Having my MTN router was one of the best things that happened to me. It allowed us to take our mission to the hinterlands,” he recounted.
Also, an entrepreneur, Joseph “La’Shakara” Edet, narrated his journey from a small fashion stand to owning multiple businesses.
“We’re in a digital age, and even then, I understood the power of the internet and social media in reaching people. Blackberry phones were reigning at the time, and MTN was the number one network that could help expand my reach,” he said.
DJ 007 described how data helped scale his DJ career, saying, “I’ve been able to work with different brands like Budweiser and Hennesy and even mentor aspiring DJs.”
The MTN Nigeria Go MAD campaign was created to promote its 5G network and the transformative power of 5G connectivity.
At the Calabar event, the MTN Head of Delegation, Mr Gbenga Ogunmekan, explained that, “Go M.A.D is a call to action. It’s about inspiring Nigerians to stand out in what they do. It’s about MTN providing an enabling environment for all our customers to go make a difference in their different life endeavours.”
“I’m sure we’ve all learned something, hearing from the people who have been able to make a difference using the MTN data network. I’m sure as we all go home, we’ll all do things differently and we’ll go M.A.D in our various endeavours,” the Manager for Sales and Trade Development at MTN, Chibuzor Akuchie, said.
Brands/Products
MoMo PSB Introduces Gift Card Services in Mobile App

By Modupe Gbadeyanka
A provider of digital financial services in Nigeria, MoMo Payment Service Bank (MoMo PSB), has introduced a gift card service in its mobile app.
The new addition is the Global Duka Gift Card Service, available to registered MoMo PSB customers, allowing them to easily purchase voucher codes for popular platforms such as Apple Play, Google Play, Netflix, Amazon, Xbox, and PlayStation.
This service was made possible through the collaboration between MoMo PSB and Sochitel Group, a global leader in digital prepaid products.
The gift card can be used by millions of MoMo PSB users to make seamless online international payments for gaming and entertainment packages.
This service enhances the user experience while supporting various essential payments including airtime and educational services. Customers can conveniently redeem these codes directly on their respective service providers’ websites, making digital transactions more accessible.
The Global Duka Gift Card Service is designed to eliminate barriers associated with traditional payment methods.
Users can now make purchases without needing credit or debit cards, ensuring secure and trusted transactions within the MoMo ecosystem.
The initiative simplifies access to international brands and fosters a more connected digital lifestyle for its customers.
The service is now live within the MoMo PSB Super App and is available to all registered users. To start enjoying the feature, customers simply need to log into their MoMo PSB app and navigate to the Global Duka section under ‘My Apps.’
“At MoMo, we are dedicated to driving financial inclusion through innovative digital solutions. The introduction of the Global Duka Gift Card Service aligns with our mission to empower Nigerians by providing easy access to global digital products.
“This partnership with Sochitel Group marks a pivotal step in enhancing our offerings and ensuring our customers can enjoy a broader range of services,” the chief executive of MoMo PSB, Phrase Lubega, said.
“Our collaboration with MoMo PSB is a significant milestone in promoting financial inclusion and simplifying cross-border commerce.
“With Global Duka, we are excited to provide Nigerian consumers with an effortless way to access international brands and services directly from their mobile wallets,” the chief executive of Sochitel Group, Mr Jerry Ejikeme, stated.
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