Media Economics and Nigeria’s Democracy

Copyright © 2020, The Author. In Western democracies, the news media is constitutionally free, liberal and independent. As watchdogs, mediators and mediums of idea exchange, they provide information that facilitates transparency, accountable governance and public participation. In authoritarian regimes, information is state controlled. In emerging democracies with a history of authoritarian rule, what is the nature of the press and do they contribute to democratic consolidation? Using political economy of communication as its framework of analysis, this paper investigated the nature and influence, if any, of mainstream news media in Nigeria on the democratic process. Findings indicate that since democratization in 1999, news outlets have transformed into capitalist, neoliberal, ad-driven industrial complex. Although, small portions of the media still embody nationalist sentiments, are adversarial, alternative and politically non–aligned; in general, the media is shaped by market forces to the extent that substantial deficits in investigating corruption, critical reporting and exposing elite privilege have become widespread. While the press provides a platform for broad and robust political discussion as well as a medium for public opinion to fester, they do not adequately survey the political terrain nor act as watchdogs. As a consequence, democracy in Nigeria will continue to lack openness, inclusiveness and transparency