“No successful democracy without independent, financially stable media” — Kole Shettima

The Country Director of the MacArthur Foundation, Dr. Kole Shettima, has stressed the importance of financial independence for media organisations in fostering sustainable democracy and promoting accountability in Nigeria.

Dr. Shettima made the remarks on Wednesday at a media sustainability conference in Abuja, organised by Nigeria Media Innovation Program (NAMIP) and Daily Trust Foundation with the support of MacArthur Foundation and themed “Future-Proofing Nigeria’s Journalism Media – A Sustainability Dynamic.”

The event brought together key stakeholders in the media industry to explore solutions to the growing financial and operational challenges facing the Nigerian media landscape.

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Shettima added that, “You can’t think about having intellectual independence if you don’t also have financial independence. The two must go together to make our country a better place for democracy to thrive.”

He noted that democracy is built on four key pillars — the executive, legislature, judiciary, and, most importantly, an independent media — which plays a central role in nurturing a democratic culture.

SolaceBase reports that Dr. Shettima observed that many media organisations in Nigeria struggle to survive due to over-reliance on single funding sources such as family ownership, government support, or limited advertising revenue.

He argued that true media independence requires diverse and sustainable income streams.

“We believe media organisations should not rely solely on one family, government, or a single source of advertisement. Multiple income streams are essential to ensure their independence and sustainability,” he added.

Acknowledging that these challenges are not unique to Nigeria, Dr. Shettima pointed to a global decline in local journalism, with many regions experiencing “news deserts” as media outlets shut down.

In response to this crisis, he highlighted the Foundation’s Press Forward initiative, which aims to strengthen local journalism and ensure that community voices are heard and valued.

“We are in a troubled period,” he said. “But independent media is critically important to sustain democracy, accountability, and a healthy public discourse.”

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Through a partnership with the Media Development Investment Fund (MDIF), the MacArthur Foundation has supported several Nigerian media organisations in exploring alternative revenue models.

Dr. Shettima praised those already making progress in reducing their dependency on external funding.

“I’m hoping that this project will really have sown the seeds of sustainability of media organisations in the country,” he said, urging further collaboration and innovation across the sector.

He also called on the Nigerian private sector and other stakeholders to invest in the media ecosystem, arguing that a strong media is vital to the health of the nation.

He stated, “Media is a long haul — an investment in public service, in our democracy, in the future of our country. Upholding the rule of law, democratic culture, and accountability is good for all of us, regardless of sector.”

Though unable to attend the event in person, Dr. Shettima expressed hope that the conference would foster meaningful dialogue, inspire new partnerships, and lead to practical steps toward building a more resilient media landscape in Nigeria.

He concluded by emphasizing that the lessons and relationships developed through this initiative should endure beyond the meeting, contributing to a more independent and sustainable future for journalism in the country.