woodboi:
The laws in Nigeria are as empty as they are full..... I love this.

Very strong words which hold true. With all our brilliant minds, resources and God given talents we still remain as a people progressively inept in the way we relate to one another and things that are our own.

In other climes the government of the day will protect an homegrown company or establishment given the multiplier effect it can have and bring to the economy.

We have to wake up and get it right as a people and country. Laws should be reviewed, investors encouraged and Nigerians helping fellow Nigerians across board to achieve as we don't have any other country to call our own except Nigeria (at least for the time being).

prof1990:
i really wish we can have the government support this companies so we can reduce the monopoly that Dstv has. The govt should support home businesses imagine how much Dstv makes from Nigerians every year and take back to their country. We really need to reduce or if possible place a 2year ban on importation and encourage internal production. But this can only be achieved if we put aside politics,religion,tribe and any form of divisiveness and SELFISHNESS and also block every avenue where funds can be mismanaged or embezzled.

Sir, I have no idea why the Government haven't created a legacy of making Nigeria a self-dependant country. They keep claiming Agricultural improvement, but it's not only agric that needs improvement. Our media, our transport, our construction even to the little things like Textile. If possible we turn North Korea and practice JUCHE!!!!

lesson learnt
#moving on
# 4 like 6months naw ave stopped paying 4 my dstv subscription and dia customer care team don call me tire my reply 2 dem is always as usual *u guys Sud introduce pay as u watch *datz d only way I will subscribe 4 una service.

#multichoice neva loved us
#mtn Na dia broda in crime.
#local antenna taken ova

Experience is the best teacher but I better learn from other's experiences.

It's rather unfortunate that Toyin would want to play the sympathy card

Am old enough not to always hear one side of the story. I personally followed the DStV and HitV saga when it started and I can categorically say that the above write up is more crap than real

Firstly, the Nigerian government under the then Ministry of Information ( Frank Nweke Jnr) really supported HitV. They stood by the Hitv when the fully paid rights was going to be recalled after been sold to them. Guess Dstv had pulled strings and the sold rights was going to be recalled. The ministry warned that a recall would be that it will not allow any broadcast in Nigeria (please google)

So how did the government fail HiTV? Was he hoping that the government would reverse the sale to Dstv after they won and he couldn't come up with the payment as clearly called out in his write up?

Leaving sentiments aside, businness are in operation to make money. The Nigerian bank that backed HiTv lost billions Shareholders funds at that! is he saying they should continue to lose depositors funds and shareholders funds because they want to support a failed venture that the MD was busy lavishing and mismanaging companies funds

Or is it the numerous staff that lost their jobs after several months of unpaid salaries or the consumers that wasn't getting value besides football and eventually lost money on prepaid subscriptions.

How can a trained lawyer not understand the clause in a contract before signing. Again that calls into question the capability of the person in question.

Let's leave sentiment beside, have learnt how not to run a company especially in tough terrain like Nigeria

omolola15:


Na God go punish multichoice and NBC. Corruption killed Hitv because I'm sure multichoice bribed them to rule in their favor.

My Hitv dish and strong decoder just waste like that. The EPL was the main market. And multichoice did all they could to block them from getting it. I'm sure they might even be the ones that blocked the bank from giving them the money on Tuesday. Hitv was willing to share but dstv refused to. Such is life.

Our Nigerian government killed our Nigerian company. What is stopping the ministry of information from investing in the company. Probably there's no one to bribe them. Useless set of people.

I just wish there can be another indigenous company that can rival those useless multichoice. So they can stop collecting my 14k per month.

Push Him Down (Phd) syndrome in DNA of Nigerians at play....

I don't know what CONSAT is doing self

omolola15:


Na God go punish multichoice and NBC. Corruption killed Hitv because I'm sure multichoice bribed them to rule in their favor.

My Hitv dish and strong decoder just waste like that. The EPL was the main market. And multichoice did all they could to block them from getting it. I'm sure they might even be the ones that blocked the bank from giving them the money on Tuesday. Hitv was willing to share but dstv refused to. Such is life.

Our Nigerian government killed our Nigerian company. What is stopping the ministry of information from investing in the company. Probably there's no one to bribe them. Useless set of people.

I just wish there can be another indigenous company that can rival those useless multichoice. So they can stop collecting my 14k per month.

Multi choice is not forcing you to pay 14k, you can go for gotv. And our own hitv MD is a liar . He didn't mention how he went UK to acquire exclusive rights to epl with 100 million pounds. Something multichoice buys 25 million pounds. They refused to share with multichoice when hitv just bought the epl right. Sorry to disappoint you, it's not just epl that makes sales to multichoice.

Mention one indigenous company in Nigeria that's still standing? He paid (MD hitv) 100 million pounds for what multichoice buys for 25millions pounds. Multichoice went to them to share but they refused. Four years later, 2 weeks before they lost the right, Mr MD is now claiming they agreed to share. Epl is not the main market, plenty content are on dstv better than epl.

Ask4Info:
TOYIN SUBAIR IS THE LAST PERSON ON EARTH TO SHARE HIS BUSINESS EXPERIENCE OR FORM VICTIM OF CIRCUMSTANCE.

A MAN SO WASTEFUL THAT HE BOUGHT 2 BRAND NEW RANGE ROVER SPORT OF THE EXACT SAME MODEL AND SPECS, THE ONLY DIFFERENCE WERE THEIR COLOURS (ONE BLACK AND THE OTHER WHITE).


A MAN THAT FLEW FIRST CLASS LIKE HE WAS VOMITING MONEY. ALL HIS GIRLFRIENDS ALSO FLEW FIRST CLASS TO MEET HIM UP ANYWHERE HE WAS.


I DON'T BLAME HIM ANYWAYS, I BLAME BOLA AHMED TINUBU (JAGABAN BOKU) FOR SELECTING SUBAIR TO FRONT FOR HIM AMONGST OTHER MORE ENTERPRISING AND BUSINESS ACUMEN INDIVIDUALS.

Hatred for the messenger does not mean hatred for the message!

Toyin... to whom much is given, much is expected!! Do ur survey well before embarking on such a tasking job. All over the world, there are policies or institutions that are unfavorable!!! Your driving force should be a determination to penetrate or access such organs!!! Need i tell u that the failure of Hitv has robbed off on us all. From whr u failed others are striving. Lessons learnt

why are we enemies of Our self ? for us to embrace our own child in what he is doing is a problem for us, instead we will still be doing bad, talking rubbish even support outsider than our own.why is our government so selfish like this? it keep hurting me when I just sit down and look the power of dstv over us even they increase their sub in this recession time. thank God they gave startimes a way,even now this also hitv already fold up why can't our government invest in our business. I will like people to take concern about this things because it keeps hurting us instead of us typing rubbish on twitter this one of the suppose things we should be mention for them to see it and go and seat down in their house to think


such selfish government

Am not in anyway happy that Hitv died, and I want another indigenous company to fight dstv and their exploitations, half of dstv customers in africa are from Nigeria, how I wish station like Tinubus consat can fight them for this sports right since he seemingly has the political and financial might. [/quote] thank you o truth teller. He got it wrong. His strategy failed him. Over borrowed, not enough content, didn't look at his competition closely enough. He simply couldn't compete with the might of dstv who've been in the business since the nineties maybe eighties sef. His business ran out of steam and collapse after initial gra gra. Government policy or not, it was all a terribly lame attempt.

DonX001:
Lovely writeup.
Learnt a few nuggets. (for those of us that are running companies, there are key lessons buried amidst the lines in the article).

woodboi:
The laws in Nigeria are as empty as they are full..... I love this.

It is a great story. A lot of aspiring entrepreneurs can learn from his experience and take precautions, to avoid the same problems he faced. Toyin Subair, experience is a great teacher and I believe you will rise again, bigger, better and more successful from the ashes, just like the Phoenix!

ElSherriff:
The man is a gallant man. Good in business, generous in losing out, still generous in sharing his unfortunate experiences so we all can learn. In the era of patronizing home made, Nigeria and her leaders continue to fail and fail. Where was the support for an indigenous firm? we was national pull to make this company work? where was patriotism? I remember the HiTv days as I had a decoder and dish too, quality was poor BUT they were always top notch in customer care and reassurances. Same thing is happening to TRENDtv and Metrodigital today, poor quality and dubious services and these latter firms will go down faster because unlike HiTv their customer care is sh*t. I have stuck with CTL for a while now and for the past two weeks my subscription has yielded nothing, none of the channels work and yet they wont even answer their customer care line...If i port to DSTV, another Nigerian brand is going down. I salute oga Zubiar and I am damn sure this man is cooking up another brand that will definitely work.

Your Oga Subair was a typical Nigerian business man. Him and his shareholders. They went on a spending spree, immediately they sold out and forgot to renew their hold on the EPL till DStv(those greedy and exploitative bastards) did. I understand that our government is anti-business and very corrupt, but Subair ought to have known all these.

Imagine if Zuckerberg were to be a Nigerian. Imagine what 'small' Linda Ikeji is doing with her change because 'business had been good' . We are Nigerians and we dont know how to build a business that will become a brand and survive us. Disney land, Facebook and WhatsApp used to be someone's business and idea, today they have a become a legacy given to the world.

This is why I admire Seun, though he is like a shark that is contented in a pond, you don't see or hear him living like he will die tomorrow. That is how to build a business and grow it.

I blame this Subair, not our government, for the way DStv had been exploiting us, because he failed to sustain the challenge he gave them . If I may ask, what has stopped someone like Adenuga that has money and in the cable and wireless business from starting a similar business and chasing the DStv thieves out of our clime?

Great piece very good for we entrepreneurs. Learnt a lot from the article like;

Reading between the lines before going into any contract with anybody

Study those who wants to invest into your business very well

Never ever because of a morsel of bread, or temporal gratification sign away your life's work, it is better to endure the hunger and ensure you get the best deal. I remember John Maxwell in one of his books said that head or tail, the guy with idea is by far better than the guy with money, and this issue is so much prevalent in Nigeria. That is why entrepreneurs must shine their eyes well.

The issue concerning banks is a no no for me. Getting your funds from Nigerian banks via debt in Nigeria is very terrible. People say 25% to 30% interest, but that is a big lie, some of the banks hide so much charges under that by the time you are done, the interest is almost 40%.

Government support is terrible in the nation. The Government is talking about diversification but they don't know that supporting local entrepreneurs with the right policies will add huge value to the economy. They really need to wake up to their duty.

It has been a good lesson learnt, doing business in the nation is very challenging, but I want to encourage those entrepreneurs out there trying to make a difference to never give up, to keep on striving, to keep on improving there processes and capabilities, to keep on striving despite the huge challenges, for as long as they try, they will one day break the ceiling, succeed against all odds and encourage those coming behind them, that they too can make it.

He was spending more money than he was making....any business that spends more money than it makes will not last long

No plan for sustaining the business cos he thought the jamboree would last forever...

lucarella:
Can the mods please do the needful and push this to the frontpage? This is a lesson and will impact the lives of aspiring entrepreneurs and business men/women. Not everytime Genevieve pictures and snake.

Honesltly i had to save this page so i could read at a later time of the day..very informative.

The man has agreed to his naivety and where he accepted responsibility was his being a 'simpleton' and not aligning with the Government. Sometimes, lobbying is needed for businesses to wax stronger, sometimes Government going out of legal boundaries to save indigenous firms can suffice. He even agreed he was near clueless as per the agreements he entered with his shareholders. But I doubt is he was entirely carefree with money. He does not come across as somebody with such tendencies especially as he did not default in the over 1bn Naira yearly payments and all that. In DSTV's case, the South African government completely supported them and would still continue to. The shareholders were also very unwise as they wanted more and have now lost all. In all, I commend the man as my lesson here is in his learning, his gallantry in admitting his mistakes and willingness to share his experiences. Nice comment bro!

DIKEnaWAR:



Your Oga Subair was a typical Nigerian business man. Him and his shareholders. They went on a spending spree, immediately they sold out and forgot to renew their hold on the EPL till DStv(those greedy and exploitative bastards) did. I understand that our government is anti-business and very corrupt, but Subair ought to have known all these.

Imagine if Zuckerberg were to be a Nigerian. Imagine what 'small' Linda Ikeji is doing with her change because 'business had been good' . We are Nigerians and we dont know how to build a business that will become a brand and survive us. Disney land, Facebook and WhatsApp used to be someone's business and idea, today they have a become a legacy given to the world.

This is why I admire Seun, though he is like a shark that is contented in a pond, you don't see or hear him living like he will die tomorrow. That is how to build a business and grow it.

I blame this Subair, not our government, for the way DStv had been exploiting us, because he failed to sustain the challenge he gave them . If I may ask, what has stopped someone like Adenuga that has money and in the cable and wireless business from starting a similar business and chasing the DStv thieves out of our clime?

Babysho:



Sir, I have no idea why the Government haven't created a legacy of making Nigeria a self-dependant country. They keep claiming Agricultural improvement, but it's not only agric that needs improvement. Our media, our transport, our construction even to the little things like Textile. If possible we turn North Korea and practice JUCHE!!!!

JUCHE is a scam and an empty ideology

cooldudeng:
It's rather unfortunate that Toyin would want to play the sympathy card

Am old enough not to always hear one side of the story. I personally followed the DStV and HitV saga when it started and I can categorically say that the above write up is more crap than real

Firstly, the Nigerian government under the then Ministry of Information ( Frank Nweke Jnr) really supported HitV. They stood by the Hitv when the fully paid rights was going to be recalled after been sold to them. Guess Dstv had pulled strings and the sold rights was going to be recalled. The ministry warned that a recall would be that it will not allow any broadcast in Nigeria (please google)

So how did the government fail HiTV? Was he hoping that the government would reverse the sale to Dstv after they won and he couldn't come up with the payment as clearly called out in his write up?

Leaving sentiments aside, businness are in operation to make money. The Nigerian bank that backed HiTv lost billions Shareholders funds at that! is he saying they should continue to lose depositors funds and shareholders funds because they want to support a failed venture that the MD was busy lavishing and mismanaging companies funds

Or is it the numerous staff that lost their jobs after several months of unpaid salaries or the consumers that wasn't getting value besides football and eventually lost money on prepaid subscriptions.

How can a trained lawyer not understand the clause in a contract before signing. Again that calls into question the capability of the person in question.

Let's leave sentiment beside, have learnt how not to run a company especially in tough terrain like Nigeria

God bless you for this.

The more I read Toyin's write up of lies, the more irritated I get.

The bank he was hoping on as backup to provide the much needed guarantee stalled because they were very sceptical about funding Toyin's HITV mess.

If HITV had been properly ran and managed (even if they were operating at a loss which is naturally expected in the first few years for a new business), banks would have been falling over themselves to provide the guarantee he badly needed before the expiration of the deadline.

Toyin presented a business model to the bank that provided the bulk of the funds he needed to start the business. Did he follow the business plan? Didn't he deviate from it? What happened to all the "content" and "programmes" he claimed he was going to bring on board to HITV? Did he do all that? NO!

You can't present a business plan to a bank for a loan of 20 billion naira, the loan gets approved and then you run back to them asking for another 40 billion when you are yet to pay off the initial 20 billion with little progression in the company and expect the bank to do your bidding.

Every bank has a risk appetite and an acceptable level of debt exposure. There are no sentiments involved. If it's outside their risk threshold, they either ask the company to look for another bank to share the risk and provide some sort of syndicated loan (which was what Toyin was hoping to acheive) or they walk away from the deal.

There are 3 versions of a story
1. My version
2. Your version
3. The true version

Toyin Subair has given his own version, let's wait for others.

beebwai:
Am not in anyway happy that Hitv died, and I want another indigenous company to fight dstv and their exploitations, half of dstv customers in africa are from Nigeria, how I wish station like Tinubus consat can fight them for this sports right since he seemingly has the political and financial might. thank you o truth teller. He got it wrong. His strategy failed him. Over borrowed, not enough content, didn't look at his competition closely enough. He simply couldn't compete with the might of dstv who've been in the business since the nineties maybe eighties sef. His business ran out of steam and collapse after initial gra gra. Government policy or not, it was all a terribly lame attempt.

Toyin is just trying to play with emotions of some gullible people but some of us here are old enough and can vividly give an account of his performance when he killed his dream with lack of foresight and flamboyance, and come to think of it he is blaming government, when clearly Frank Nweke was visibly supporting him then as minister of information to an extend some said he was the real owner.

for your mytv,dstv,CTL ,star times,gotv installation and retrecking HALA at your nigga @08179854671 and consider your work done................your comfort is our pride

lari03:
One thing that stands out as a fact is what he said about Perception. I look forward to reading rebuttals from stakeholders in the failed project. In Nigeria, people judge every move you make. It is obvious the man is no saint but the Nigerian jury will murder you for trying to be different. They will secretly wish you fail and they will accuse,gossip and badmouth you at every opportunity.
Black man with black heart.

Now back to the other aspects, the guy is spot on: please show me the venture capitalists in Nigeria. Nigerian businesses struggle to break through, apart from the big mergers we have read, how many businesses have received support from within their industry niche to grow in this country ?
I will bookmark this writeup. It's an excellent piece in my opinion. I recommend it to entrepreneurs seeking to find investors to start their businesses.

None of the stakeholders involved in the HITV failed project will join issues with Toyin and engage in a media war. He is best ignored. What i know is that given his past antecedents, no major bank will touch him with a pole (that is, finance any project where he is a major shareholder or part of the key management team). He knows this and that is why he is trying to play the sympathy card.

Yes, there are venture capitalists and business angels in Nigeria. Several venture capital firms based outside Nigeria are also investing in Nigeria based entrepreneurs. The only issue with such agreements (which the average Nigerian struggles with) is the level of scrutiny you are subjected to and the high degree of honesty/transparency that is expected.

With business angels and venture capital firms, every penny given to you must be accounted for. Due diligence is carried out on the entrepreneur and everything is looked at - educational background, age, any relevant experience, previously successful/unsuccessful businesses, personal assets, business acumen, etc).

You cannot collect money from a VC or business angel and then use the money to acquire 2016 Honda accord as 'official car' or a state of the art office at ikoyi or decide you need to upgrade your apartment/move from ikorodu to 1004 flats to reflect your new status (diverting business funds for unnecessary 'business expenses' is something a lot of Nigerian owned companies for known for). there must be a justifiable reason for any penny released/spent.

blank:
This man mismanaged the company, spent borrowed money lavishly and totally went against every good business tenet. Corporate governance was zero. Staff lost jobs, customers that had prepaid lost money and he spent it all living a lavish lifestyle.

Now, he has the guts and temerity to parade himself as a saint. I am sure he is trying to repackage himself for another enterprise and is hoping that Nigerians will forgive and forget.

How did u know??
Prove him wrong by starting yours and let's see how it goes. Dick head.

woodboi:
The laws in Nigeria are as empty as they are full..... I love this.

m

Me too. the guy has a firm grasp of English.

halamadrid:
Mention one indigenous company in Nigeria that's still standing? He paid (MD hitv) 100 million pounds for what multichoice buys for 25millions pounds. Multichoice went to them to share but they refused. Four years later, 2 weeks before they lost the right, Mr MD is now claiming they agreed to share. Epl is not the main market, plenty content are on dstv better than epl.

.
Story, you re obviously a vested interest in this matter. Let MultiChoice loose the EPL and we ll see how far your better content can carry you, if Nigerians ll not drop you like a bad bad habit. U have no idea how hated DSTV n mtn are in Nigeria. Na condition dey make crayfish bend.

"Two Players Market in Nigeria: How To Survive The Game" another title for this insightful writeup by Oluwatoyin

The Nigerian factor! This country is a joke.

chrisdayo:
Honest man. Don't be deterred, you can still try again. We all need people like you to break the monopoly and extortion of MultiChoice. We are paying through our noses just to watch football and they are not ready to allow flexible viewing...pay as you watch. Pick it up again afterall this is the season of change.

he can become an household name in digital TV when he summon courage and start all over again.. he isn't the first to experience such... ask the CEO of KFC...

halamadrid:


Multi choice is not forcing you to pay 14k, you can go for gotv. And our own hitv MD is a liar . He didn't mention how he went UK to acquire exclusive rights to epl with 100 million pounds. Something multichoice buys 25 million pounds. They refused to share with multichoice when hitv just bought the epl right. Sorry to disappoint you, it's not just epl that makes sales to multichoice.

Without the epl for that 1 year do you know how useless dstv was? I used to own a viewing center and i tell you it'll ba a tough business for multichoice without the epl. The only reason I'm paying 14k is for the epl and champions league. I blocked the z world and Telemundo because I don't want anyone disturbing me when it's time for soccer. And yes they are forcing me because 6k sub is for the epl only and not even all the matches.

Apart from soccer I don't have any business with multichoice. I download my movies online even series as well. I believe their service is on the high side. I was in togo and cannal + is pay per view. Hitv really bleeped up but our government could have done more to help them.