Nigeria: State of Economy – Expert Seeks Bailouts for Media, Others

A media consultant and Chief Executive Officer of Megastar Media Communications, Adeniyi Ifetayo,has called for bailout packages for the media and other industries,saying such action by the government had become necessary to cushion the effects of harsh economic realities in the country.

Speaking to newsmen on Monday, during the official opening of an international media consulting firm,Reigh Advertising and Megastar Media Communications’ Office, in Abuja, Mr. Ifetayo said every industry should be given bailouts.

Noting such interventions by western nations during the COVID-19 pandemic era, Ifetayo said:”Every industry should be given a bailout, especially the fourth realm of the estate, because I have had a friend in Europe who said even during the lockdown, that the government was sending money, every month, every week, 500 Euro and all of that to them.”

“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. It is better we make more friends than making enemies, ” he said.

On the other hands, he enjoined the media to be truly the ambassador of the country by portraying it in good light.

“We have a lot of things that is good for us. Let’s celebrate more of our wins than to criticize the thing that we are doing that is not right. Even as much as we want to criticize, let’s also provide solutions. Not just condemn, but also provide solutions, ” he said.

He explained that Megastar Media Communications, came to amplify whatever businesses people are doing-whether profile or product, adding that it was doing it with the help of strategic partners all over the world.

“We have seen a lot of businesses that were formed with two friends coming together. One of my mentors once asked “have you seen a company that is 100 years old in Nigeria? Because, once the founder dies,so to say, that business begins to go down.’

“So, we are here to amplify whatever thing that you are doing, whether your profile or your product, we want to amplify it. And we are not just doing it alone, we have strategic partners all over the world.

“For example, you are in Nigeria, you are looking for an investor. Let’s say 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.

“Just like I said, we are more of a media buying, media planning, media advisory. Whatever it is that you are doing, we want to give your brand visibility because communication is very key,, “he added.

While noting that Nigeria is one of the best places in the world, he recalled that during the course of his job that saw him travelling to covered events in Canada, in Europe, UK, and other places,he realized that there is so much freedom in Nigeria.

“There is freedom that we enjoy here, the privilege that you are within your people, and Nigeria has the number, the market is here. ”

Asked why he embarks on the business when most Nigerians were leaving abroad because of economic hardship, he said it was not everyone out there that is living the life he desires.

“I want to say this because of what I have seen abroad. That some of our people are feeling like coming back but because a lot of people sold their stuff, they felt that Nigeria does not have anything to offer them. But people are still making it here. 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, “he said.

Ifetayo expressed happiness for establishing the firm, saying he would contribute his quota to Nigeria’s employment generation.

According to him, opening the firm is one of the ways to contribute his qoata to Nigeria’s employment generation.

“At least,we are going to employ one or two persons, ” he said.

He said the firm has strategic partnership with Pan-Atlantic University.

“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 will be giving us some of their students that will do six-month to one-year course, to practicalize what it is to be journalists.

“This is unlike a situation here where you have a lecturer who has never run a business before and 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 added.

By Vanguard.