Prominent media owners and CEOs have stressed the need to adopt innovative strategies to address the challenges posed by the evolving Nigerian media landscape in the emergent the digital era at the just concluded 3rd Nigeria Media Leaders Summit held from May 5 – 6 in Abeokuta, the Ogun State capital.
The summit, organised by Journalism Clinic and themed “MARKET SQUARED – Turning connections into Gold in the AI age,” brought together over 60 industry professionals and sector experts to dissect the changing audience, dwindling advertising revenues, and the rise of new technologies.
The panelists agreed that audience engagement alone is insufficient for survival. Traditional advertising revenues are shrinking, forcing media houses to explore alternative revenue streams. Toun Okewale Sonaiya, CEO of Women Radio 91.7 FM, showcased the success of her women-focused station, highlighting the viability of niche marketing and diversified revenue generation through events, partnerships, and grant funding.
Editor-in-Chief of Premium Times, Musikilu Mojeed championed international partnerships, referencing the Panama Papers investigation as an example of the power of global collaboration. He also stressed the need for greater cooperation within the Nigerian media landscape, advocating for resource sharing and joint projects.
The discussion also touched on the crucial role of technology and training.
Managing Director/Editor-in-Chief of The Punch, Adeyeye Joseph detailed the newspaper’s investment in an in-house tech team to drive digital innovation, while Sonaiya explained how Women Radio leverages AI to enhance content creation and audience engagement. The panelists underscored the importance of equipping journalists with the skills to navigate the digital landscape. Despite the challenges, the panel reaffirmed the importance of investigative journalism.
They called for more creative approaches to storytelling, using data visualization and follow-up reporting to amplify impact and resonate with a wider audience.
Addressing unique challenges faced by Nigerian media, Sonaiya highlighted the crippling effect of unreliable power supply on operations, calling for urgent solutions to this infrastructural problem. The panel also emphasized the need to promote inclusivity by supporting local language content and reaching underserved communities.
The summit concluded with a call for a deeper understanding of the Nigerian context, urging media houses to develop strategies tailored to local needs rather than simply replicating foreign models. The panelists emphasized the importance of adapting to the changing times while upholding the core values of journalism.
