Reflections on Daily Times and FRCN's Decline

The article discusses the centenary of the Daily Times, celebrated on 1 June, and the 75th anniversary of the Federal Radio Corporation of Nigeria (FRCN), which occurred in April. Written by Martins Oloja, the piece conveys frustration over the decline of these institutions from their original aspirations.

The Daily Times, once a significant media entity with a 60 percent equity interest in Naira Properties Limited and valuable assets, is now seen as a cautionary tale. The FRCN's journey mirrors this decline, with Oloja expressing nostalgia for what could have been.

The article critiques the controversial privatization processes, referencing the failed repossession of the Port Harcourt and Kaduna Refineries under President Olusegun Obasanjo and the subsequent reversal by Umaru Musa Yar’Adua. It argues that attempts to reclaim privatized enterprises often lead to deeper issues rather than solutions.