Editors Seek FG’s Bailout for Media via thisdaylive
The Nigerian Guild of Editors has called on the federal government to extend its financial interventions to media organisations in order to save them from collapse due to the effect of COVID-19 pandemic on their revenues.
The editors, in a communiqué yesterday after a virtual Standing Committee’s meeting, signed by the Administrative Secretary of the NGE secretariat, Toye Olori, noted that using public funds to finance private sector operations to save them from bankruptcy and collapse was not new as it had been adopted in other jurisdictions like the United States.
“Notes that using public funds to finance private sector operations to save them from bankruptcy and total eclipse is not new and has been adopted in other jurisdictions. It cites the instance of the United States government, which used public funds to save the U.S. automobile industry, banking and other ailing sectors from insolvency during the financial crisis of 2008 and currently with the $2 trillion bailout for companies, amid the COVID-19 scourge.
It said the government’s intervention was imperative to ensure that the media continued to discharge its constitutional duty; stressing that survival of the media is crucial to the survival of democracy.
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