If a media organisation struggles to pay salary or finds it difficult to effectively run the organisation, definitely it is either advertisers are not paying or owners are not diligent.
This was the consensus by stakeholders at the signing of a memorandum of understanding on debts servicing between regulators of media outfits in Nigeria.
National broadcasting commission and advertising practitioners council of Nigeria are major regulators of broadcast and advertising agencies in Nigerian.
Records show that, due to dwindling revenue, unpaid advertisements are the leading cause of debts owed regulators by practitioners.
This MOU is a directive by the minister of information and culture, Lai Mohammed which mandates the two regulators to have a clear understanding for reconciliation of the amount owed.
NBC acting director general, prof. Armstrong Idachaba said the wading into the issue of industry’s debts by the federal government is a major stimulant for the nation’s broadcast revolution.
APCON registrar, Olalekan Fadolapo told me ,the debts owed his agency is about one billion naira.
