Brands/Products
Justrite’s Energy Costs Surged Over 500% in 2022—Chairman

By Dipo Olowookere
The Chairman of Justrite Superstore, Mr Ayodele Patrick Aderinwale, has disclosed that the company’s energy costs in 2022 significantly increased by more than 500 per cent.
Speaking on Friday on Arise TV’s Global Business Report hosted by Mr Aruoture Rotus Oddiri, the Justrite chair said this surge in energy costs was triggered by the rise in the price of diesel in the year under review.
At the beginning of the year, a litre of diesel was selling between N200 and N250, but by the end of the first quarter of 2022, it was going for N650 per litre and later jumped to N800 per litre.
This increase was blamed on the invasion of Ukraine by Russia in February 2022. The price has not moderated to the pre-war period, forcing many companies to source cheaper energy.
But Mr Aderinwale said the company was making efforts to cut these energy expenses, especially with the funds raised from the sale of a minority stake in Justrite to Africinvest recently.
“Last year, our energy costs increased by over 500 per cent and don’t forget that energy is part of our major operational costs. You have to have electricity 24 hours because you cannot afford to be in the dark; that is why we have to embrace solar energy,” he said on the programme monitored by Business Post on Friday morning.
Speaking further, he said, “It is interesting that you raised this issue of renewable energy. One of the things we agreed with Africinvest is that from now henceforth, all our new stores to be opened would be powered solely by solar and the existing 17 stores would be integrated with solar energy.”
He expressed optimism that Justrite would gain immensely from the experience of Africinvest because of its rich pedigree on the continent.
According to him, Africinvest “is not just coming with money, it is coming with insight, corporate governance, repositioning of the company and all manners of strategies.”
“Before they made the final investment, they went through the due diligence process, both legal and commercial, to check the gaps and prospects of the company before signing the deal,” the chairman said.
Brands/Products
Court to Decide MultiChoice, FCCPC Price Hike Suit May 8

By Adedapo Adesanya
Justice James Omotosho of the Federal High Court in Abuja has fixed May 8 for judgment in the suit filed by MultiChoice Nigeria Limited against the Federal Competition and Consumer Protection Commission (FCCPC).
Justice Omotosho fixed the date after lawyers representing the parties adopted and argued their written addresses for and against the case.
The court had earlier restrained the commission from taking “any administrative steps” against the plaintiff following an increase in the service price of two of its brands; DStv and GOtv.
The restraining order was a sequel to a formal request by MultiChoice seeking the court’s protection from planned sanction from the FCCPC, over the increase in the price of DStv and GOtv.
At the proceeding, the court granted the commission’s request for an extension of time to regularise its processes and also allowed the plaintiff to withdraw its application for interlocutory injunction which has been overtaken by event.
Arguing its case, MultiChoice through its lead counsel, Mr Moyosore Onigbanjo submitted that the bone of contention is “whether the defendant have the right to control the price at which the plaintiff offers its services to the public.”
He argued that the Act establishing the FCCPC did not confer on it the powers to regulate price or prevent anyone including the plaintiff from increasing its prices.
Also, the lawyer stated that the issue of whether the defendant can regulate price has been litigated before between the two parties, adding that the tribunal had held that the commission has no powers to regulate prices of goods and services in the country, except the President of the Federal Republic of Nigeria.
The Plaintiff’s lawyer also submitted that even the president who is clothed with the powers to regulate prices has maintained “that his government does not believe in price control” but, that prices are determined by market forces of demands and supplies.
The plaintiff in addition submitted that if the FCCPC has no powers to control price “where does he have the powers to prevent the plaintiff from increasing price.
MultiChoice subsequently accused the Commission of discrimination, stating that all businesses in the country have been increasing their prices in line with economic conditions and inflation without the Commission raising an eyebrow, save with the plaintiff.
He, therefore, urged the court to grant all the reliefs sought in the suit.
While adopting his counter affidavit in opposition to the suit, lead counsel for the defendant, Mr Joe Agbugu, urged the court to first address the cause of action; which is the the issue of increase in the price of DStv and GOtv.
Mr Agbugu disclosed that the Commission on February 25, wrote the plaintiff after it announced price increase effective from March 1, 2025.
According to the senior lawyer, MultiChoice was summoned to appear before the commission on February 27, “they wrote that it was not convenient and proposed March 6. We then said that in the interim they should hold on with the price increment.”
Mr Agbugu further stated that, “there was no issue of price regulation or fixing as at the time the action commenced.”
Besides, he claimed that the statute establishing the FCCPC, gave it “powers to check exorbitant pricing” and also powers to “regulate abuse of dominant position in the market” as it relates to prices and passing of cost to the consumer.
“The plaintiff occupies a dominant position in the television and entertainment,” Mr Agbugu claimed, adding that the case before the court is not of price regulation but the powers of the Commission to investigate prices that are deemed exploitative and abuse of dominant position.
“The Commission is not to tell you to use price A or B but to determine that the price is exploitative” he said, “they ran away to be investigated over their planned action.
“Our action is not about price fixing; the issue is about whether the price is exorbitant…the mandate of the Commission is to protect the consumer.”
Reacting to the claim of discrimination, defendant’s lawyer, submitted that, “abuse of dominant position qualified them to be singled out for exorbitant pricing.”
Mr Agbugu subsequently urged the court to strike out the suit and dismiss it because it attacks the major task of the Commission of protecting consumers.
“The suit should be dismissed and the plaintiff returned to us for investigation,” he added.
Responding, Justice Omotosho announced that, “judgment is reserved to May 8.”
Brands/Products
Knorr Engages Customers Via ‘Share The Good’ Ramadan Campaign

As the sacred month of Ramadan unfolds, Knorr is embracing the spirit of generosity and spreading kindness with its ‘Share The Good’ Ramadan campaign—an annual initiative designed to bring communities closer through acts of kindness, food, and shared experiences. The brand is creating opportunities for meaningful connections, ensuring that fasting Muslims remain nourished while fostering a culture of giving.
At the heart of this movement is the Knorr Ramadan Good Bus, a travelling symbol of warmth and well-being. This special initiative will bring renowned chefs and beloved Eativists to key cities such as Lagos, Ibadan, Kwara, Abeokuta, and Osogbo. They will visit mosques and community hubs at each stop, sharing wholesome meals during Iftar and offering valuable guidance on balanced nutrition and healthy fasting practices. By making nutritious eating more accessible, Knorr aims to support communities in observing Ramadan in a way that prioritises both spiritual and physical well-being.
Beyond these community engagements, Knorr is also bringing the spirit of togetherness into people’s homes through an immersive digital experience. Throughout Ramadan, the brand will host interactive weekly live cooking sessions on Instagram. In these cooking sessions, participants will receive recipes in advance, allowing them to cook along in real-time as they prepare nourishing Iftar meals. More than just a cooking demonstration, these sessions will highlight the importance of mindful and nutritious eating, helping participants maintain their energy and well-being while fasting.
Recognising that Ramadan is also the time for compassion, generosity, and reflection, Knorr has launched the 30 Days Good Challenge to encourage daily acts of kindness. Every day, the brand will share simple yet meaningful ways for individuals to share good—through acts of service, heartfelt messages, or small gestures of care.
Damilola Dania, Category Manager, Nutrition, Unilever West Africa, speaking on the campaign, highlighted its impact and importance, saying: “At Knorr, we believe food is more than just nourishment. It is a powerful force that brings people together, especially during a time as meaningful as Ramadan. Through the Share The Good campaign, we are strengthening the spirit of togetherness that defines this holy month, creating meaningful opportunities for communities to connect, give back, and celebrate the true essence of Ramadan.”
Brands/Products
Customers Groan as MTN Hikes Data Plans Again

By Adedapo Adesanya
Nigeria’s leading telecommunications provider, MTN, has once again implemented another price hike on internet plans, marking the second time in the last three months.
Recall that the Nigerian Communications Commission (NCC) approved a 50 per cent tariff increase in January, the first of such since 2013, for telcos in the country.
Checks by Business Post revealed that previous plans are no longer applicable at their rates, with many customers lamenting that the value has doubled yet again.
For instance, the 2.5GB plan which used to be N600, now goes for N900, the 6GB jumped to N2,500 from previously 5GB which cost around N1,500.
Other checks showed that N3,500, which used to be for 15GB, is now for N7GB.
Under the previous pricing, the 1.8GB monthly plan was N1,500, replacing the previous 1.5GB plan that was priced at N1,000. The 20GB plan increased to N7,500 from N5,500, while the 15GB plan rose to N6,500, up from N4,500.
Larger data bundles have saw even steeper increases. The 90-day 1.5TB plan has jumped from N150,000 to N240,000, while the 600GB 90-day plan has risen from N75,000 to N120,000.
It is expected that there will be hikes across these bundles with these fresh hikes.
According to an X user, “MTN don increase their data price again. Na wa o.”
“We’re paying more for data than we’re earning in this country. MTN are hell-bent on business aiming to push the majority of people offline by the second quarter of this year,” another user added.
MTN Nigeria, with 84.61 million subscribers, has the largest share in the Nigerian telco market.
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