Newspaper print media in Nigeria is big business and not for the faint at heart. The start-up costs are substantial. However, this solely depends on the coverage of the newspaper. There are different types of newspaper print media businesses in Nigeria today. These range from community newspapers such as an academic community/campus newspaper, state-owned newspaper print media outlets with coverage only within particular states, regional newspapers and the national newspapers.
The national newspapers are mostly in the form of dailies, and churn out new productions on a daily basis. Comparing all the existing newspaper publication types mentioned above, newspapers with national coverage are the most challenging as there are huge logistics challenges that involve freighting, and an elaborate distribution network that has to be established to achieve adequate distribution of these newspapers.
Starting a Newspaper Print Media in Nigeria
For new entrants to this business, the cost implications of starting a newspaper print media must be properly factored in, and a general knowledge on the rough estimates must be known. The right equipment must be purchased to ensure a problem free flow of work, and to meet up with deadlines. An important consideration that must be factored in is power. This is very crucial to the production process.
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The power situation in Nigeria today leaves much to be desired, and significantly increases production costs. For many newspaper print media outlets in Nigeria, this is a big problem as the production costs are significantly increased, thereby creating a dwindling profit margin for businesses. From the onset, this must be a major consideration, and adequate planning must be made.
The Technology in Use
Newspaper print media houses in Nigeria adopt different technologies based on their financial strengths. These technologies significantly affect the production costs. The use of higher technology in the production of newspapers such as CTP (Computer to Plate) considerably increases the cost of production. Other lower technologies that include CTM (Computer to Machine) and film before plate are cheaper to use than the CTP.
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Based on the owner’s financial strength, a choice needs to be made between the three technologies. The advantage of using the latest technology shows in the end products as they are easier to produce, and come out sharper. Whatever the case, the choice of technology will greatly affect the cost of starting this business.
Some Required Equipment
Apart from the expenses on building which varies according to location, there are other cost implications related to the purchase of equipment that are necessary for starting a newspaper print media outlet in Nigeria. Some of these include large industrial printers with varying capacities for production of batches. These are a necessity for any serious minded newspaper print media outlet in Nigeria. Other equipment include newsprint, inks, plates and blankets among other consumables.
Other Running Costs to Consider
The payroll system is a significant area where the business incurs expenses. The salaries of the workforce must be taken into account. The workforce should typically be made up of experts/professionals in the field to ensure that their wealth of experience and skill is well taken advantage of. On an average, the salary of mid-level staffers is between the N50, 000 to N60, 000 marks.
In Summary
The cost of starting a newspaper print media in Nigeria is relative to the type of newspaper print media to be established. Starting a high-tech newspaper print media is more costly than lower tech newspaper print media. In addition to this, the location of the newspaper print media is important and can significantly affect the cost.
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Locating one in a big city as Abuja or Lagos will mean more expenses to be spent on rent, or on building offices. This is also true of locating the business is less expensive cities, say Kogi or Ondo States.
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