Ambassador Yemi Farounbi, Former Ambassador of Nigeria to the Philippines has said 51 radio stations can not survive in Ibadan while sharing his two cents on the issue of the continuous rise in the establishment of radio stations in ibadan.
“If you balance the demand and the supply on the basis of the economy, we don’t need more than 10 to 15. The economy is not there, the industries are not there, the giant businesses are not there, the local advertisers are not there and the advertising revenue is shrinking. So, the capacity of the stations, 51 stations to survive economically is in serious jeopardy. And last year when we were doing the press freedom day, one of the cardinal points is that for a media house to have freedom, it must be economically right.
51 stations can not and will not be viable in Ibadan.” He said.