Shobanjo Tasks Daily Times to Leverage 660,000 Archives, Become Global Media Conglomerate

• Advertising guru receives Change Maker of the Century Award at newspaper’s centenary celebration

• Proposes media, publishing divisions, IPO to expand revenue, ownership base

Sunday Ehigiator

Chairman of Troyka Holdings, Dr. Biodun Shobanjo, has challenged Daily Times of Nigeria to leverage its historical archives and institutional heritage to transform into a global media and publishing conglomerate, urging the newspaper to explore new business opportunities beyond traditional print journalism.

Shobanjo made the call while delivering the keynote address at the Times Heroes Award, held recently in Lagos, as part of activities marking the newspaper’s 100th anniversary.

Speaking on the theme, “Honouring the Past, Shaping the Future,” he said declining newspaper readership and circulation, alongside the growing influence of digital platforms, had made it imperative for traditional media organisations to rethink their business models and explore sustainable sources of revenue.

Shobanjo said Daily Times must look beyond conventional newspaper publishing and diversify into digital media, entertainment, publishing, and other content-driven businesses to remain competitive in the evolving media landscape.

A major part of his proposal centred on the commercial and cultural value of the newspaper’s historical archives, which he estimated at approximately 660,000 photographs, videos, and other archival materials documenting Nigeria’s history.

According to him, the archives constitute significant intellectual and commercial assets that could be monetised through digital content, documentaries, licensing, publishing, and entertainment.

Shobanjo stated, “You have 660,000 photographs, videos and other archival materials. These are not just historical records; they are assets that can be converted into economic value.

“You must begin to look at how these materials can generate revenue for the organisation.”

Drawing parallels with Rupert Murdoch’s News Corporation, Shobanjo proposed that Daily Times restructure its operations around two major business divisions: media and publishing.

He explained that the proposed structure would enable the organisation to diversify its operations, expand its revenue base, and establish a sustainable business model beyond newspaper production.

Shobanjo also advocated broader public ownership of the historic institution through a proposed Initial Public Offering (IPO) on the Nigerian Exchange, while allowing Folio Communications, its majority stakeholder, to retain controlling interest.

“The Daily Times should belong to Nigerians,” he said, stating that wider public participation in its ownership would give citizens an opportunity to invest in and benefit from the institution’s future growth.

Reflecting on the newspaper’s history, he acknowledged the contributions of past media professionals, intellectuals, and business leaders, particularly former chief executives, Chief Tola Adeniyi and Alhaji Yemi Ogunbiyi, whom he recognised for their roles in the organisation’s development.

He also commended Chairman of Folio Media Group, Mr. Fidelis Anosike, for his audacity and commitment to sustaining the Daily Times legacy, urging him and Folio Communications to build on the newspaper’s heritage and reposition it for greater achievements.

Shobanjo was honoured with the Change Maker of the Century Award at the centenary celebration in recognition of his contributions to Nigeria’s marketing communications industry and the broader business landscape.

The award recognised his pioneering role in the country’s advertising and marketing communications industry, institution-building, talent development, and the nurturing of generations of professionals.

His entrepreneurial legacy spans organisations, including Insight Redefini, All Seasons, and Quadrant MSL, with business interests covering advertising, media, and integrated communications.

The recognition also highlighted his contribution to building institutions designed to create value and opportunities beyond their founders.

At the Shaping the Future Town Hall held as part of the centenary activities, business leaders and industry stakeholders also examined the importance of building sustainable enterprises, developing human capacity, and establishing institutions capable of outliving their founders.

One of the contributors, technology entrepreneur, Iyinoluwa Aboyeji, emphasised the importance of equipping people with relevant skills and capabilities to become productive.

Aboyeji identified human capacity development as a critical pathway to job creation.

The discussions reinforced the importance of sustainable structures, strong leadership, investment in people, and continuous innovation in building enduring institutions.