Nwoko’s aide asks for Bailout for Media to Cushion Economic hardship in Nigeria
Ned Nwoko
Nwoko’s aide asks for Bailout for Media to Cushion Economic hardship in Nigeria.
Chief Press Secretary to Senator Ned Nwoko, Ifetayo Adeniyi, has pleaded with the Federal Government to provide bailout to media outfits in Nigeria due to the harsh economic hardship affecting the industry.
Adeniyi made the appeal in his welcome address at the official commissioning of a Public Relations outfit, Reigh Advertising & Consulting in Abuja.
The Chief Executive Officer of Megastar Media Communications lamented that an average Nigerian media has been struggling to remain in business since COVID-19 lockdown crippled the economy, resulting in the inability of many outfits indebted to journalists in backlog of salaries and allowances.
He further argued that since the media remained the most dependable image-maker of the country, the Federal Government should support them to continue to remain in business.
He also noted that those who survived the world economic pandemic were struggling to stay afloat under the heavy burdens of taxation and payment for newsprint materials, among others.
He said: “Every industry should be given a bailout, especially the fourth estate of the realm because I have had a friend in Europe who said even during the lockdown that the government sent about 500 euros every month, every week and all of that.
“Even if you cannot do that, there are sectors that are very critical to the economy, because the media are like an ambassador, they project our image. If we are doing good, they will project it.
“One of my mentors once said, have you seen a company that is 100 years old in Nigeria? Because once the founder dies, such business begins to go down. Every industry needs a bailout, especially the fourth estate of the realm.
“Even in Europe, I have a friend who said during the lockdown, that the government sent money consistently as a form of intervention to news organisations. Some sectors are very critical to the economy and this includes the media. They are like an ambassador who project our image.
“If we are doing good, they will project it. They also have an obligation to hold the government accountable, especially in areas where they are not doing well. Again, the media do not only condemn; they also proffer solutions. This is why the FG needs to offer some form of bailouts or interventions,” he appealed.
On the significance of the firm, he said that the main purpose of establishing Reigh Advertising and Megastar Media Communications was to connect businesses across board and amplify voices across the world.
“So, we are here to amplify whatever thing that you are doing, whether your profile, your product, whatever it is that you are doing, we want to amplify it. And we are not just doing it alone, we have a strategic partner all over the world.
“For example, you are in Nigeria, you are looking for an investor in China, or you are looking for an investor in the Middle East, we have a media partnership that can project your story, your brand, that thing that you are doing, they will be the one looking for you.
“Just as I said, we are more of a media buying, media planning, media adversary, whatever it is, you know, crisis management, reputation management and brand visibility. Whatever it is that you are doing, we want to give you brand visibility because communication is very key,” Ifetayo noted.
