How to Keep Media Groups Viable in Nigeria’s Competitive Business Terrain – PREMIUM TIMES Boss

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PREMIUM TIMES Editor-in-Chief Musikilu Mojeed told reporters on Thursday how to support media companies.

Mr. Mojeed spoke to 20 pioneer beneficiaries of the MTN Media Innovation Program (MIP) who are currently undergoing training at the School of Media and Communication (SMC), Pan-Atlantic University (PAU)Lagos.

The six-month program funded by MTN Nigeria would equip fellows with required knowledge in storytelling, principles of entrepreneurship and management, 5G and blockchain technology, business and media ethics, strategic planning skills, among others.

Speaking on the theme “Revenue streams for modern media”, multi-award-winning investigative journalist Mr Mojeed said that running a viable media outlet would require “multiple streams of revenue”.

He noted that “quality content is key to the survival” of media houses, adding that “journalists must refrain from the ‘brown envelope'” – a culture of financial gratification popular among journalists in Nigeria. .

Citing the case of PREMIUM TIMES, Nigeria’s leading online investigative media, Mr. Mojeed highlighted the ethical values ​​of credibility, diligence, fairness and consistency, among the reasons to stay afloat in the industry. competitive media in Nigeria.

“We need to have multiple streams of income; publicity alone cannot save us from the executioner,” he told the fellows, who are training in entrepreneurial skills at university.

The media manager listed sources of revenue to include: partnerships, book publishing, innovative advertising, training, donations and special publications, among others.

“You need to diversify your sources of income because if you continue to depend on traditional advertising, your journalism will be diluted,” Mr. Mojeed advised the cohort.

He explained that “good journalism is expensive”, saying that the collaborative efforts of journalists in Nigeria’s newsrooms would give rise to accountability journalism.

“The only way for media houses to survive is to innovate,” Mr. Mojeed warned fellows who sought information on media sustainability.

A colleague, Abidemi Dairo of Channels Television suggested the use of short codes as a means of encouraging Nigerian media audiences to donate to improve good journalism.

About the program

PREMIUM TIMES had reported that in-person sessions for the fellowship began on May 23, 2022 and would continue until December 10, 2022.

As part of the program, fellows will also travel to South Africa to study the media sector, Pan-Africanism and the role of development media as part of a program with the University of the Witwatersrand, one of the main African universities in media training.

Additionally, the cohort will perform hands-on group projects that will be presented at the end of the program; where an outstanding storyteller will receive a grant to participate in and cover the MTN Foundation’s key initiative, “What can we do together?” »

According to the organizers, upon completion of the training, fellows will also have access to professional resources and mentoring from the university’s faculty.

The UPA celebrates its 20th anniversary

Meanwhile, the Panatlantic University held a press briefing on Wednesday as part of activities commemorating its 20th anniversary.

The institution’s Vice Chancellor, Enase Okonedo, a professor, spoke about the evolution of the university which, she noted, started with a school but now has six main units and a museum.

Professor Enase Okonedo (middle) surrounded by University management staff.

Ms Okonedo described the School of Science and Technology as the latest addition to the university.

“PAU has a strong Christian identity. The truths shared by the Pan-Atlantic University as an institution are not only common to Christianity, but to other religions,” she said.

She added that the university has a strong pluralism and aims to approach the education of students “in freedom and freedom”.

“The goal of education at the Panatlantic University is the complete formation of the human person. The University aims to produce professionally competent, creative and enterprising individuals who are zealous for the common good and capable of making free and morally just decisions and who thus act as positive agents of change in the service of society,” explained the vice-chancellor.

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