Media Capitalization: Sequence for Nigerian Editors’

As the Nigerian Guild of Editors, NGE, in convergence with the US Embassy kicked off its six-zonal, media-based town hall workshop in Lagos state; the expectations of media practitioners are very high.

They are expected to see robust discussions on possible ways to capitalize the groaning media industry, as the much-talked press freedom could only be guaranteed with viable media sector.

Tagged, ‘’Agenda Setting for Sustainable Democratic Culture’’, the first-leg of the capacity-building for Editors took place at De Rembrandt Hotel, Ikeja, Lagos on Thursday, November 2, 2021.
It is however expected to take place across the six geo-political zones of the Country in the next few months.

Delivering her speech at the one-day event, the U.S. Ambassador, Mary Beth Leonard, who listed some of the challenges faced by Nigeria, as well as other democracies across the world, urged the Nigerian media to raise the bar and guide press freedom jealously.
Some of the challenges, according to her included journalistic standards, identifying bias as well as conducting fact-based investigative reporting to better inform the Nigerian public.

She said that when the citizenry belief in democracy, good governance and restoration of elections, invariably they would want be a part of the system and even defend it.

“Our hope in this forum today, is that you will lead and serve as catalysts for further discussions on countering disinformation; increasing transparency; solution building; encouraging media literacy and their contributions to a democracy that is accountable to its people.”, she stated.

Leonard, who noted that the workshop would provide a forum for over 200 participating editors and leaders of the independent press to discuss and share best practices, noted that experts would speak on freedom of the press, among other topical issues.

General Secretary, Nigerian Guild of Editors, Iyobosa Uwugiaren in his own submission noted that, at the end of the project, “We expect to see a pool of Nigerian editors, senior journalists as well as media managers, who would be galvanized and committed to highest ethical standard while taking robust actions.
More so, editors would be committed to the promotion and protection of the right to independent press, freedom of expression; deepening democratic space; and constantly projecting issue-based governance in defense of the mass of the Nigerian people.
But while applauding the Nigerian editors for the laudable town hall meeting, some media practitioners were skeptical that press freedom can never be guaranteed in an atmosphere of groaning media industry.
Managing Director and Editor-in-Chief, The Guardian, Martins Oloja during a recent media dialogue, hosted by International Centre for Investigative Reporting, ICIR, said the nation’s economy is too weak to support press freedom.
According to Oloja, the Nigerian media need strong capitalization to support robust investigative journalism, capable of holding public officials accountable.
While urging the private sector to support the media industry, he noted that, if media managers continue to depend on ‘wicked and criminal’ leaders that brought down Nigeria for capitalization, the situation would definitely worsen.
Also, the Founder, Foundation for Investigative Journalism, Mr. Fisayo Soyombo had long before now, noted with dismay that government sponsors most media houses, thereby putting the media platforms in a tight spot.
“The media has to rethink its survival model and look at new realities of funding which allow them an alternative.
“As long as we have such sponsorship scenarios, journalists won’t do their best. So, we need a new method or have to change the old one. We need to get to the point where journalists realize that injury to one is injury to all and understand that this is about the future of the country and the people in it.”, he stated.

According to Soyombo, “if Nigeria’s economy remains like this, we are going nowhere because we don’t have good capitalization to support robust investigative journalism.
”Most of the proprietors do not have money; they depend on the system for survival. So, we end up giving awards to the people we are supposed to be holding accountable.

“We can’t practice robust journalism. What we are doing here is public relations and marketing, not journalism. The country’s economy is too weak to support press freedom because managers always depend on the system we are monitoring for revenue. And that is the problem.”
Ideally, this should form the major plank of the discussion at the ongoing media town hall workshop of the Guild of Editors, as only viable media can guarantee press freedom while holding government accountable to work for the interest of the citizens.

There is no doubt, that it costs a lot of money to do investigative journalism, as it requires enough capital, which the media owners do not have, thus fallen back on political leaders, who the media are holding accountable for.
Media experts said discussions on how to capitalize the media industry without the involvement of political leaders, should form part of the ongoing discussions; hence press freedom could only guarantee independent media
Today, Nigerian media operate in a very unfriendly economic clime, which heightens the cost of production, yet reducing the citizens’ purchasing power.

Most newspaper owners have sustained their outfits by relying on personal resources as well as proceeds from sales and advertisement, which often times was limited by some economic factors.
This no doubt, has left many publications struggling for survival, even as premature death has become inevitable.

An industry that experiences such high mortality rate is most unlikely to contribute to national development and also being independent or free from censorship.

For Nigeria media to continue to contribute to national development, sustainability must be guaranteed, as absence of press freedom would empower government to abdicate its responsibilities and embolden it to act without checks.