Megalectrics, a leading broadcasting company in Nigeria, on Thursday announced a temporary closure of the operations of its two radio stations, The Beat 97.9 FM and Naija FM 102.7FM, in Ibadan.
The Chief Executive Officer of the company, Mr Christopher Ubosi, in a statement said the decision follows prevailing economic conditions, which has necessitated a decision to take a strategic halt in operations.
Ubosi said the company had explored all possible options before making this difficult decision.
He elucidated that the decision of temporary closure of the two stations in Ibadan would allow the company to regroup, restructure, and emerge stronger.
“This temporary measure will allow Megalectrics to regroup, restructure, and emerge stronger than ever, providing an even better experience for our valued staff, clients, and the loyal listening public.
“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 content. 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.
Ubosi commended the staff of the two stations and said their dedication and passion would be recognised and rewarded as they navigate through these difficult times.
“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. We assure you that your dedication and passion will be recognised and rewarded as we navigate through these difficult times.
He also appreciates Beat 97.9FM and Naija FM 102.7FM esteemed clients, for their unwavering support and partnership.
“To our esteemed clients, we deeply appreciate your unwavering support and partnership. Your trust in us has been the driving force behind our success. We remain committed to maintaining open lines of communication, as we work together to create innovative solutions that will benefit all parties involved.
“Lastly, to our cherished listeners in Ibadan and its environs, we understand the impact that The Beat and Naija FM have had on your lives. We assure you that this decision was not taken lightly and we explored all possible options before making this very hard and difficult decision.
“We are hopeful that this hiatus will be temporary, and we are working diligently to ensure that when we return, we will exceed your expectations. We value your loyalty and promise to bring you a refreshed and invigorating radio experience that will truly resonate with your hearts and minds.
However, he noted that the other stations in Lagos, Port Harcourt, Abuja and London were all fully operating.
“Important to state that our other stations in Lagos, Port Harcourt, Abuja and London are all fully operational.
“Megalectrics remains fully committed to its mission of delivering exceptional entertainment, promoting local talent, and providing a platform for community engagement. We are confident that this temporary hiatus will pave the way for an even brighter future for The Beat FM and Naija FM in Ibadan and its environs.