Year 2023 has been a very unusual and challenging one for business owners all over the nation. Many organizations are compelled to take drastic measures in order to adjust to present day realities. There were stories of mass sack, retrenchment, salary deduction, relocation and unfortunate complete shutdown of some businesses across the length and breadth of the nation, in different sectors.
Unfortunately, the media space in Oyo State was not spared from his harsh economic downturn as some organizations bite the dust this outgoing year. In the history of Ibadan city, only a radio station, Thrill FM, has ever began operation and later became defunct. But this year 4 radio stations in the city that started the year fully operational are off air by the end of the year for different reasons.
BEAT 97.9 FM/NAIJA 102.7 FM – Both stations belong to Meglectrics Limited, a highly reputed giant in the radio space, with very successful radio brands all across Nigeria and beyond. Megalectrics laid off all it’s Ibadan staff in both radio stations and shut down operations. When we broke the news, they were quick to debunk the news and label it a rumour. Their disclaimer informed that they were just on their usual routine maintenance and would be back after the weekend. Unfortunately, they are not back since September and some of their heavily disappointed staff have already found solace elsewhere.
KING 103.9 FM – The station domiciled in the prestigious Premier Hotel, Mokola Ibadan have been off-air, few months after Premier Hotel shut down operations for reconstruction and rebranding in December 2022. One would have thought that the station will relocate from the hotel and found another place to continue its operations, but it’s unfortunate that their destiny seem tied to that of Premier Hotel, despite belonging to different owners. We hope they bounce back bigger and better, as we expect the mega return of Premier Hotel.
SPACE 90.1 FM- It’s very unfortunate that one of the earliest private radio stations in the city is on this list. The station prides itself as the first trilingual station in the city and it was the first station nick named the people’s secretariat. But unfortunately still, the station seem to have lost its fire over the years due to series of management cum leadership crisis. Despite all that, it came as a very rude shock to know that the station has to shut down operations as it reportedly could not keep up with the huge cost of operation. Inside sources reveal that the station promises to resume operations next year, and we sincerely hope they keep their promises early enough to celebrate their 10th anniversary by February 14th, 2024.
What do you think? Do you think we should expect these stations back? Do you think some other stations might go this route next year? Well, let’s keep our fingers crossed and keep hope alive!