LATEST UPDATES
Card-image-cap

Business | World of Business

Broadcasting Business in Nigeria Threatened by Extremely High Energy Cost

Jan 04, 2023   •   by   •   Source: Broadcast Media Africa   •   eye-icon 223 views

The Broadcasting Organisations of Nigeria (BON) has indicated that poor electricity supply, the continued collapse of the national grid, and the high cost of procuring diesel and Premium Motor Spirit (PMS) are factors responsible for stifling the performance of Broadcast stations in the country.

 

In a statement, BON said the dwindling advertising budget of advertisers and non-payment of outstanding debt is militating against the optimal performance of broadcasting stations in the country.

 

Appraising the sector’s performance in the outgone year, Executive Secretary of the BON, Dr Yemisi Bamgbose, said Federal and State government owners of stations should put a mechanism in place to ensure suitable funding of their stations so that democracy can flourish.

 

Bamgbose said, “Federal government should deploy necessary funds to the National Broadcasting Commission to enable it to implement digitisation programmes that will benefit stakeholders and the general public.”

 

“It was a year that the National Electricity grid collapsed many times, magnifying the epileptic public power supply problem while bills for the non-available power supply kept rising unabated,” Bamgbose added.

 

He disapproved of the “imposition of double taxation,” which he claimed made the industry’s problems worse.

 

Bamgbose, who expressed concern over the saturation of the airwaves by private radio and television stations, called for linkages and mergers to benefit from advert revenues.

 

Meanwhile, the Executive Secretary of BON also assured that Broadcast managers would perform their constitutional responsibility without fear or favour, even as he canvassed an eclectic approach to salvaging the situation.

 

Credit:

The post Broadcasting Business in Nigeria Threatened by Extremely High Energy Cost first appeared in Broadcastmediaafrica.com on January 04, 2023.

Related items.

Get the App

apple-store  play-store

Connect with us


Proshare is a professional practice focused on delivering research and information services to bridge the gap between investors and markets; by delivery on credible, reliable, and timely engagements through the following areas — Impact Research, Market Intelligence, Strategic Advisory, Stakeholder Relations & Digital Media.