AKSU Journal of Communication Research (AJCR)

IMPACT OF OIL SUBSIDY REMOVAL ON NEWS PRODUCTION AMONG SELECT MEDIA ORGANISATIONS IN LAGOS STATE

Author:  DR.AYOOLA OLALEKAN AJASA, DR.OLADIPO AROWA, MR. RAMSON OLOCHE ACHEME and DR.TENIOLA DAVID

Abstract
The study examines the impact of oil subsidy removal on media operations in terms of news gathering and the economy of news production, focusing on how media organisations in Lagos State, Nigeria, have adapted to the challenges posed by oil subsidy removal. The study adopts a survey research design using two media organisations, The Guardian newspaper (print media) and Arise Television (broadcast media). A population of 190 staff from selected media organisations was derived, with a sample size of 149 respondents was selected from the population of 190 staff members from the media using the Taro Yamane formula (1967). Proportional and convenient sampling techniques were employed to select respondents. Data were collected through the questionnaire instrument, and the results were analysed using descriptive statistics, frequency distribution, mean standard deviation, and linear regression. Findings revealed that the removal of oil subsidies significantly affected the newsgathering activities (β=0.546, t=9.134, p<0.05), news production processes (β=0.392, t=4.380, p<0.05), and the economic aspects of the media organisations (β=0.660, t=4.605, p<0.05). These results underscore the profound implications of subsidy removal on the operational efficacy and financial health of news organisations. The study concludes that removing oil subsidies presents significant challenges and offers opportunities for media organisations to innovate and restructure their operations. The research recommends that media organisations develop strategies to mitigate the negative impacts and explore new revenue streams to sustain their operations in the face of rising costs.