The broadcast industry laments the harsh economy and debt recovery.

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Stakeholders in the Broadcast industry are lamenting the negative effects of economic upheaval on their operations and are concerned about the industry’s survival if the situation persists.
They stated this at a combined interactive session on broadcasting reform held in Abeokuta by members of the Nigerian Broadcasting Organizations and the Nigerian Advertising Practitioners Council.

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The Chairman of the Broadcast Organization of Nigeria, who was represented by the body’s Executive Secretary, Yemisi Bamgbose stated this at a joint interactive session in Abeokuta between members of the Broadcasting Organisation of Nigeria and the Advertising Practitioner Council of Nigeria.
It was observed that without collective efforts how to find solutions to the issue of debt recovery, payment delay, and harsh economic conditions in the country, most of the broadcast stations in the country will soon shut down. He noted most radio and television stations in the country need between 500 thousand to one million Naira daily to fuel their power generating set in order to remain on air.

According to participants, the situation is gradually threatening the existence of traditional broadcast stations, which are known as the primary source of authentic news and a major tool for maintaining national stability and promoting economic development.
The Ogun State Commissioner for Information, Waheed Odushile said the state will continue to support the industry. The interactive workshop also gave broadcast media owners and managers the opportunity to learn more about the Advertising Practitioners Council of Nigeria’s new policy framework.
Credit: TVC News

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