The leading broadcasting company in Nigeria announced the closure of two of its radio stations on Thursday.
Megalectrics, a leading broadcasting company in Nigeria, has announced the temporary closure of two of its radio stations: The Beat 97.9FM and Naija FM 102.7FM, in Ibadan.
The Chief Executive Officer of the company, Christopher Ubosi, made this known in a statement issued in Lagos on Thursday.
Mr Ubosi explained that the temporary closure was due to the prevailing economic conditions, which necessitated a decision to take a strategic pause in operations.
He, however, said other stations in Lagos, Port Harcourt, Abuja and London were all still fully operational.
Mr Ubosi said the temporary closure of the two stations would allow the company to regroup, restructure, and emerge stronger, providing an even better experience for "our valued staff, clients, and the loyal listening public".
He said: "Megalectrics understands the profound impact that Beat and Naija FM have had on the vibrant city of Ibadan. Over the years, these stations have become an integral part of the local culture, offering unparalleled entertainment, music, and news.
"We recognise the immense support we have received from our dedicated staff, esteemed clients, and the general public, and we are committed to honouring their unwavering loyalty.
"Megalectrics would like to extend our deepest gratitude to our valued staff in Ibadan, who have played an instrumental role in making The Beat FM and Naija FM the successful platforms they are today."
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Mr Ubosi assured them that their dedication and passion would be recognised and rewarded as they navigate through these difficult times.
He also deeply appreciated their esteemed clients, for their unwavering support and partnership.
Mr Ubosi noted that their trust in them "had been the driving force behind our success", adding that the organisation remains committed to maintaining open lines of communication, "as we work together to create innovative solutions that will benefit all parties involved".
According to him, "We understand the impact that The Beat and Naija FM have had on the lives of our cherished listeners in Ibadan and its environs."
He assured them that the decision to temporarily close the shop was not taken lightly and they explored all possible options before making this very hard and difficult decision.
Mr Ubosi said they were hopeful that this hiatus would be temporary, and they were working diligently to ensure that when they return, they would exceed their expectations.
He said the company valued customer loyalty and promised to bring on a refreshed and invigorating radio experience that would truly resonate with "your hearts and minds".
Mr Ubosi said the company remained fully committed to its mission of delivering exceptional entertainment, promoting local talent, and providing a platform for community engagement.
He said they were confident that this temporary hiatus would pave the way for an even brighter future for The Beat FM and Naija FM in Ibadan and its environs.
