Publisher seeks N100bn bailout for media industry
Cookey, who said this at the 5th Anniversary Lecture/Awards of the magazine in Lagos, noted that the media industry remains a critical component of the Nigerian society, especially in a democratic dispensation.
“It is important to note that before, during and after independence, and even now, the media industry has continued to play crucial roles in sustaining the Nigerian dream. If other sectors deserve bailout, the media industry deserves it even more,” he said.
He noted that the global financial meltdown led to the death of many media organisations and contributed to the current state of the industry, while the declining fortunes of the economy has made it difficult for many Nigerians to patronise the products of media houses and especially generate advert patronage from corporate firms.”
And today, even those that survived the economic tsunami are still limping and struggling to meet obligations to their employees as at when due. We cannot continue to pretend that all is well with the industry—all is not well. We need help urgently,” he said.
Cookey said rather than complain endlessly about negative coverage in the Western media, we must tell our own story through our own media. He lamented, however, that “our own media cannot tell our own story from the grave or hospital bed. The media industry in Nigeria is sick and in dire need of medical attention in form of financial support. Accordingly, we are asking the Federal Government to support the media industry with N100 billion bailout fund to sustain operators in the industry and save jobs.”
Meanwhile, Mallam Isa Yuguda, Executive Governor of Bauchi State has commended the Board and management of Journal on the 5th Anniversary/Awards of the magazine, saying the occasion provides an opportunity for sharing views and experiences towards consolidating its achievements and galvanising it to further contribute to the socio-economic development of the country.
“Business Journal has since inception stood out as a magazine whose main concern is the economic development of the country. The theme of the magazine’s 5th anniversary which is, ‘Is Nigeria Growing Forward or Developing Backward’, is not only thought-provoking, but underscores its concern and desire for the economic and socio-political development of Nigeria,” the governor said.
