BON: TV, Radio Stations To Shut Down Over Skyrocketing Fuel Prices - AMEBO ONLINE NEWSPAPER

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BON: TV, Radio Stations To Shut Down Over Skyrocketing Fuel Prices

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The Broadcasting Organisation of Nigeria (BON), has warned that the lingering fuel scarcity in the country may force broadcast stations to shut down operations very soon.

This warning comes as a result of the increase in costs of operation following the high cost of petrol and diesel.

The body stated that the rising costs of fuel and diesel has created huge shortfall for most stations thereby causing staff salaries being delayed.

It mentioned that the role of the broadcast stations as the most reliable source for information, entertainment and public enlightenment, is under serious threat due to the biting economic situation.

Broadcast stations, through their programming, help to maintain stability, security and peace in the country, which makes it highly important to keep them afloat, BON added.

The Executive Secretary of BON, Dr Yemisi Bamgbose, said in a statement that if nothing was done to immediately reverse the current trend, the stations may be left with no other option than to cease operation, noting this would open the media space up for fake news.

The statement read, “There is a lingering scarcity of petroleum products and diesel, which fuels the generating sets of these organisations, has more than doubled in price over the last four months.

“The value of the Naira has tumbled so badly while remaining very scarce affecting the repairs and replacement of broadcast equipment, all of which are imported.

“The National Broadcasting Commission’s levy of 2.5 % on turnover (not profit) outside of Station License fees, Federal Statutory taxes, State and Local Government taxes and Levies combine to impose a huge burden on the retained revenues of Broadcast Licensees.

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