Why media needs govt bailout fund — Expert

A media expert, Adeniyi Ifetayo, has advised the government to consider a bailout fund for the media following the lingering economic downturn.

Ifetayo who was interacting with journalists during the official unveiling of the Reigh Advertising and Megastar Media Communications Office in Abuja, said the media remains the image maker of a country, hence should be supported by the government to continue its business.

He recalled that during the COVID-19 lockdown periods, some media houses and journalists in Europe were supported by their governments due to low-income generation.

“Every industry should be given a bailout, especially the fourth realm of the estate because I’ve had a friend in Europe who said even during the lockdown that the government sent money, every month, every week, about 500 euro and all of that.

“Even if you cannot do that, there are sectors that are very critical to the economy, because media, they are like an ambassador, they project our image. If we are doing good, they will project it”, he said.

He said the main purpose of establishing Reigh Advertising and Megastar Media Communications media firm is 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, that they will be the one looking for you.

“Just like 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.

He said the media firms have a strategic partnership with Pan-Atlantic University to train their students and graduates for 6 months or one year in journalism.

“And the reason for Pan-Atlantic University is that they don’t finish their course just only in the four walls of the classroom, they tell their students or their graduates, you must go and practice what we taught you inside the classroom or lecture room.

“So, they’ll be giving us some of their students that will do six-month, one-year course to practicalize what it is to be a journalist. Just like sometimes in our schools now, especially our institution, with all due respect to them, you have a lecturer who has never run a business before, teaching you business administration, just only the theory aspect of it. So, I believe what we are doing is also to inculcate knowledge into younger generations”, he noted.

Speaking on doing business in Nigeria, Ifetayo maintained that Nigeria is one of the best places in the world.

He said during the course of his job, he covered events in Canada, Europe, UK, but the freedom and privilege enjoyed in Nigeria is massive for businesses.

“Nigerians in diaspora are actually living in isolation, some of them are stranded, some like coming back because a lot of people sold their stuff, because they felt that Nigeria does not have anything to offer them, but here people are still making it.

“We have the number, we have the market, it’s just for you to be focused, to be fast at what you do, and be dedicated, and who knows, people will be looking at you,” he stated.