Veteran journalist and Publisher of the Vanguard Newspaper, Sam Amuka, yesterday said the media industry is in distress following the effects of the removal of fuel subsidy on the transportation sector.
His view was also echoed by the Chairman and Editor-in-Chief of ThisDay and Arise Groups, Mr Nduka Obiagbena, who noted that journalists have become more brutal despite the difficult situation.
They stated these yesterday at the All Nigerian Editors Conference opening ceremony in Yenagoa, Bayelsa State.
The three-day conference, which attracted over 300 editors from all parts of the country, had the theme: Economic growth and development strategies in resource-rich country.
Amuka noted that revenue from newspaper sales could no longer sustain transport costs, adding that the newspaper business was on the verge of going extinct and regretted that online editions differed from hard copy.
He noted that advertisement revenue, which often supported newspaper sales, has dwindled.
He noted that the once ubiquitous newspaper vendors have disappeared from the scene due to a drop in patronage.
Amuka applauded the presence of the Nigerian Guild of Editors (NGE) and the Editor of Vanguard Newspapers, Mr Eze Anaba, for the survival of Vanguard.
“Without Eze, there will be no Vanguard. Vanguard would have been dead. With his resilience, Vanguard has continued to be on the streets because we have to publish.
“If we don’t publish, we will be an online publication, which will not be good. What the newspaper proprietors earn now is insufficient to transport the papers.”
He regretted that due to the economic hardship, most colleagues could no longer afford to fuel their cars and now resort to pooling resources to fuel each other’s cars.
However, Obiagbena urged editors to support the economic reforms of the President Bola Tinubu-led administration.
According to him, the future can be better if we give the reform support it desires, adding that people experiencing poverty should be given the necessary palliatives to survive the reforms.
He said that if Nigeria is fixed, the country would be better positioned to compete favourably with other countries.
He noted that to move forward, the four refineries managed by the NNPC must work to create room for competition with the only functioning refinery owned by the Dangote Group.
According to him, there is a need to support domestic refining of petroleum products.
Earlier, Chief Segun Osoba, veteran journalist and former governor of Ogun State, urged editors to resolve the leadership crisis bedevilling the Nigerian Union of Journalists (NUJ).
He noted that the crisis had been so deep that the NUJ had not held elections in the past two years and urged the NGE to intervene.
*Tinubu urges media owners to access funds from BoI for development, expansion
Meanwhile, President Bola Tinubu has asserted that the media is included in the federal government’s Renewed Hope agenda, saying that media organizations can now access funds from the Bank of Industry at a single-digit interest rate to develop and expand their businesses.
At the event, Tinubu, represented by the Minister of Information and National Orientation, Alhaji Mohammed Idris, applauded the role of the media in the fight to enthrone democracy and the successes recorded in its 25-year uninterrupted journey, saluting its longstanding legacy of deeply committed contributions to nation building.
He said the democracy that Nigeria enjoys today would not be possible without the media, and he saluted media personalities and individuals whose collective efforts not only at that time but even right through to today, as the country celebrates a quarter of a century of unbroken democratic experience.
Tinubu said that as someone privileged to be in the thick of the pro-democracy struggle and had a front-row view of how it played out, he would always acknowledge the very important role of the media in the struggle.
The President said, “Indeed, in this room are many veteran journalists who played very important roles in ushering in the age of enduring democracy in Nigeria. I salute your individual and collective efforts not just at that time but even through today as we celebrate a quarter of a century of unbroken democratic experience.
“In any thriving democracy, the roles of the government and the media are intertwined, both essential in serving the public interest. And, of course, the press must hold elected and appointed officials accountable and ensure that we are doing our work in a manner that strengthens democracy – not weakens it. That important work must be done in a spirit of mutual respect and collaboration, not recrimination and opposition; this alignment enables us to achieve common goals that benefit society.
“Indeed, our roles are most effective when they are not adversarial but cooperative. By viewing each other as allies in nation-building, we can create an environment where transparency, accountability, and mutual respect thrive. The government and the media can empower citizens, strengthen democratic institutions, and build a more informed and resilient society.
“As we gather to discuss a theme that is both timely and urgent, ‘Economic Growth and Development Strategies in a Resource-Rich Country,’ we find ourselves at a critical juncture in our nation’s journey toward sustainable growth and prosperity.
On the reforms and economy, the President said that the nation’s debt service to revenue ratio had come down drastically from 100% to 65% through the sustained reforms his administration had made in the past 18 months, gradually making the economy rebound on the most important foundational level.
Tinubu stated that his administration had spent the last eighteen months laying the foundation for a compelling vision of a prosperous Nigeria. His government’s vision is aimed at rekindling the faith and hope of all Nigerians in the ability of their country to flourish and providing an environment that allows everyone in it to grow.
He further explained that while oil remained a significant source of revenue for Nigeria, the nation is also investing heavily in other sectors to diversify the economy for sustainable growth. This includes the launch of the Presidential Initiative on CNG, a deliberate strategy to harness the abundant gas resources to bring down the high cost of transportation by about 60% and foster a clean and healthy environment for our citizens.
He noted: “Nigeria is richly endowed with human and natural resources that could place us among the world’s most prosperous nations. The age-long question, however, is: How do we translate these resources into meaningful growth and development?
“This is the question that Nigerians elected me to answer decisively eighteen months ago. The question has fuelled my vision for a country that truly lives up to its full potential, leaves none of its people behind in poverty and disease, and is overwhelmingly respected on the global stage.
“The last eighteen months have been spent laying the foundation for this compelling vision of a prosperous Nigeria. That is what the Renewed Hope Agenda is all about – rekindling the faith and hope of all Nigerians in the ability of their country to flourish and to provide an environment that allows everyone in it to flourish just as much.
“Two of the most significant decisions we have made are very well known to you: a ruinous fuel subsidy regime that deprived us of billions of dollars annually that could be going into investments in critical physical and social infrastructure, and a foreign exchange regime that was prone to unimaginable levels of arbitrage and abuse. Like the fuel subsidy, another needless drain on our limited national resources and a cap on our ability as a nation to reach our full potential.
“These and other fiscal and macroeconomic burdens have inspired us to undertake one of the boldest programmes of economic reforms in the history of Nigeria, to shift from a consumption-based economy to a production-oriented one.
“I am pleased to let you know that through our sustained reforms, we are witnessing our economy gradually rebounding on the most important foundational level. Today, our debt service to revenue ratio has dropped drastically from almost 100 percent to 65 percent.
“Similarly, the revenues accruing to the three tiers of government: federal, state, and local government have grown exponentially with more funds going into the provision of social services and investment as well as the provision of infrastructure and social security.
“The local government autonomy granted by the Supreme Court based on the suit filed by the Federal Government was aimed at strengthening the governance structure at the local level and promoting grassroots development.
“A new minimum wage of N70,000 has taken off across all federal government establishments, with many state governments committing to implementing same. Over 46,000 students benefit from the Nigerian Education Loan Fund across 59 tertiary institutions with a disbursement of over N5bn. The first batch of 500,000 civil servants is set to become beneficiaries of the Consumer Credit Scheme with the release of N100bn.
“While oil remains a significant source of revenue for Nigeria, we are investing heavily in other sectors to diversify our economy for sustainable growth. The launch of the Presidential Initiative on CNG is a deliberate strategy to harness our abundant gas resources to reduce the high cost of transportation by about 60 percent and foster a clean and healthy environment for our citizens. This initiative has unlocked close to $200m in private sector investments last year.”
*Diri says media crucial to sustaining democracy
Meanwhile, host Governor Douye Diri of Bayelsa State said the significance of media in democratic governance was immeasurable.
In his remarks during the opening ceremony of ANEC, Diri said that the press is the fourth pillar of democracy. It educates, informs, and entertains, shaping the public agenda and debate.
“Democracy relies heavily on the press to thrive. As ethnic nationalities and diverse interests vie for attention, your work serves as a beacon of hope, promoting understanding and unity.
“In these turbulent times around our nation and the world, your role as guardians of truth is more critical than ever.
“Integrity remains the cornerstone of your profession; building trust with the public and fortifying the foundations of a healthy democracy is your mandate.
“The theme of this conference – Economic Growth and Development Strategies in Resource-Rich Country – is relevant and timely. We are at a pivotal moment in Nigeria’s journey toward sustainable development.
“Our nation brims with abundant resources, yet poverty and underdevelopment persist across countless communities – a striking paradox.”
He said that Bayelsa was a major contributor to Nigeria’s oil and gas production but pointed out that its inhabitants faced severe environmental challenges and economic hardship.
“For long, we have been ignored, our stories dismissed, and our rights trampled. Yet we have decided not to be silenced or erased.”
Quoting Martin Luther King Jr, he declared that “the time is always right to do what is right.”
“Two recent events have strengthened my resolve to drive a thoughtful and intentional dialogue about responsible resource management in our country.
“It was my pleasure to join the University of Nigeria (UNN) community in Nsukka for their 64th Founder’s Day, where I presented a lecture on the pivotal issues of structural inequality and imbalance within Nigeria’s federal structure.
“We must, for instance, rethink the outdated idea that States have rights to surface land, while the federal government monopolises valuable underground resources,” he explained.
The Governor highlighted vital issues, including fiscal autonomy and the restricted authority of state governors, who are chief security officers in name only, as actual control rests elsewhere.
