Reflections on the National Mirror

Not long after, the newspaper’s new owner, Barrister Jimoh Ibrahim, revealed that he was going to inject N5 billion into the repackaged National Mirror, some of it going to the establishment of a printing press in each of the geopolitical zones of the country. Speaking to journalists in Abuja last month, Ibrahim, in what can […]

Not long after, the newspaper’s new owner, Barrister Jimoh Ibrahim, revealed that he was going to inject N5 billion into the repackaged National Mirror, some of it going to the establishment of a printing press in each of the geopolitical zones of the country. Speaking to journalists in Abuja last month, Ibrahim, in what can be described as redrawing the frontiers of newspaper publishing, disclosing that he had already acquired six Goss Magnum printing machines, adding that when the revamped National Mirror hits the stands, operations would take place simultaneously in the six zones, each one “autonomous and self-accounting”.

He also said that by this huge investment, his aim was to “make National Mirror the best in the country because we are taking after the New York Times strategy”.

These revelations sent ripples across the media industry—while some practitioners say the funding cannot be sustained, others believe that the industry stands to gain from it.

Ibrahim is believed to have been prompted to go into the business by his experience in the recent past when he found himself in a legal battle with government over NICON, the largest insurance company in the country. Falling back on his closeness to the media which, in the main, supported him, Ibrahim managed to retain the company.

It is thus believed that Ibrahim, realising the power of the media as agenda setters, moved to set up his own newspaper as a means of consolidating and protecting his business interests. To achieve that, he succeeded in persuading the publisher of National Mirror, Prince Emeka Obasi, to sell the paper to him. The lawyer turned businessman was reported to have parted with between N1 billion and N1.5 billion to clinch the deal.

Although, according to media experts, the history of Nigerian media has shown that newspapers established with similar motives do not last, some analysts believe that the industry may be surprised by Jimoh Ibrahim’s foray into the sector.

These analysts believe that because Jimoh Ibrahim is known to invest only in quick ROI (return on investment)-yielding businesses, his entry into the media scene is a boost to the sector.

Michael Emmanuel [not real names], an Abuja-based journalist, told our reporter that although the introduction of so much money unto the media landscape was a welcome development, he did not think Mr Ibrahim could sustain it.

“The major problem [Jimoh Ibrahim] will face is to get qualified hands that can keep the company in business”, he said.

A staff of National Mirror told M2 Marketing Mangement that they were enthusiastic and full of expectations. The staff, who wanted to remain anonymous, said: “There are a number of promises like better working conditions including better and prompt payment of salaries on or before 25th of every month”.

Mr Wale Oladepo, Senior Manager in charge of Supplement and Advert in the Abuja office of The Nation newspaper, also believes that Mr Ibrahim’s investment in National Mirror is a positive development not only for journalists but also for the free flow of information in the country.

According to him, “Journalists are going to have more places to move to, and it is better for information dissemination in this country—and the readers will be better for it because when there is stiffer competition, there is bound to be improvement in quality; quality of printing, quality of news, quality of everything”.

Malam Mohammed Haruna, a seasoned journalist and columnist, is one of those who are sceptical about the sustainability of newspapers floated by those he described as the “new rich with so much money”, to boost or protect their political or business interests.

“One [can] say that it is a lot of hype. Some people will boast of putting in billions but when the crunch comes, the billions are not there. A lot of [it] is borrowed money—money borrowed from banks—as we’ve seen from the exposure of a lot of these people we think are very rich but it’s money they borrowed from the bank and, of course the chicken would come home to roost. If you tie down your money in stuffs that are not making money for you—and in Nigeria the press is not exactly a golden goose—it will be a question of time [for it] to catch up with you”, he said.

Malam Mohammed is also concerned that with developments such as this, ethics and professionalism are going to suffer, because “virtually we are serving as their mercenaries; [they are] buying over our loyalties and so on and so forth. As they say, he who pays the piper dictates the tune. Invariably, you see this papers dancing to the tunes of their ‘pipers’ even though they probably disagree with them philosophically”.

Meanwhile, the actual impact of the new National Mirror on the country’s media space can only be measured from February 24, 2010, when it hits the stands.