The Daily Times of Nigeria Plc was incorporated in Nigeria in 1926. Originally it had the name, Nigeria Printing and Publishing Company. This was later changed.
At the height of its operations and business, the House had over 20 titles in its stable.
Some of them are The Daily Times, The Sunday Times, Weekend Times, Lagos weekend, Sporting Times, The Headlines etc. The Daily Times and Sunday Times circulated around 500,000 and 800,000 per publication day respectively. The titles especially the Daily Times and the Sunday Times were very influential.
In 1975, the Federal Government of Nigeria took over the Newspaper House.
Government acquisition of the controlling shares of the company, 96.5% and appointing its Management saw the progressive plummeting of the financial status of the company downwards. Over several successive years, the company had to rely on annual subventions of about N400m appropriated from the public treasury.
In 2003, the shares of the company as held by the Government, 96.5% was offered publicly for sale. The public offer elicited no tangible response. Another attempt was made in 2004 by listing the company for privatization through the Bureau of Public Enterprises, BPE.
Offers were pruned and appraised through a transparent and rigorous public bidding. The event was televised nationally. Folio Communications Limited was considered and adjudged the preferred bidder in May 2003 having met the technical and financial bidding aspects of the exercise directly, while the Folio Communications Limited in June 2004 paid its bided offer of N1.250b to the Government. It became apparent that Daily Times of Nigeria Plc had N2b naira assets with contingent N1.5b worth of liabilities
Folio Communications Limited officially assumed the ownership of the Daily Times of Nigeria Plc on September 3, 2004 after a colorful handover ceremony that was televised. The company was not and still not a consortium. It is a Private Limited-Liability Company.
The printing of the flagship title “The Daily Times” resumed after the assumption of ownership in earnest from 2006 till the year 2009 partially to satisfy the embedded requirements contingent upon the Enterprise Sale Deed while company turn around and restructuring continued.
Although the flagship “Daily Times” has returned to the streets since December 2014, further efforts would be injected towards the return of the rest viable titles, especially the Sunday Times, the Weekend Times and the Lagos Weekend to the streets.
The Success of the business potentials and future of the Daily Times remain highly positive, tapping from the residual goodwill and business spread garnered over the years.
The current Board, management and shareholders are confident of midwifing into full life, the media behemoth that had bestrode Nigeria and Africa and was generating ripples across the world.
The journey on the resuscitation of the Daily Times has been awesome and challenging. Facilities were decades behind obsolensce and machineries had fallen into great disuse. It became imperative to outsource particularly the print production segment of the Publishing House.
Business prospects are very high on the blossoming of the newspaper industry. The initial fear of the On-line variant eclipsing the hard copy segments has been debunked by the ever-growing needs to read books, newspapers and other periodicals.
Although modern Online perusals continued to gain currency, hard copy “old school” reading habits are gaining momentum in Nigeria and other parts of the world. The future of the Nigerian newspaper remains Luxuriantly bright and rewarding.
Hitherto, the Daily Times printed and circulated over 500,000 copies of different titles covering diverse reading audience and market spread.
Plans have reached advanced stages with an Indian Printing Press Manufacturers, Mercongraphic Limited, to install and commission medium presses in the 35 states and the capital Abuja with technical staff on tow. The business idea is to have an operational outlet per state wherein 5,000 copies of the papers would be printed and circulated daily. Thus a daily print run of 125,000 copies is achieved and distributed nationwide.
Again, a commercial print opportunity is to be created whereby the presses in the states leverage to produce educational materials requisite to each state with such State’s Ministry of Education collaboration. UNICEF is to partner with those states in a speedy production of educational books.
In other words, the presses would cater for the educational needs of each state as well as delivering 5,000 copies of the Daily Times per day. This great business opportunity shall be fully harnessed by putting our templates into active implementation.
The talks with the Mercongraphics Ltd in this regard are at the closing stages.
Miss Nigeria Pageant:
This is the first and premium Beauty Pageant in Nigeria. However, it has not returned to the full glitz and limelight it had hitherto enjoyed. Crowned Queens had been Goodwill Ambassadors in Nigeria and beyond. The titleholder for the year undertakes so much official functions most times with the Government official backing.
The Pageant and its Queens often enjoyed primeval position and reckoning. Daily Times is working for the return of the glorious golden era.
Three Editions of the pageant have been held in past years and the 2016 preliminaries and pruning have commenced. Enhanced prizes have been packaged with wider audience and outreach.
The Daily Times Archives
The Daily Times Library and Archives remains the largest collection and repository of archival assemblage of journalism materials in Africa, south of Sahara.
The digitization of this archive had been going on for some 3 years now, drawing systematically to a close. However, about a million photographs remain to be captured, captioned and stored online. Almost $4m has gone into this particular enterprise with the hope that royalty and access proceeds would in no time offset the financial executive inputs.
The Daily Times Archives Online shall serve the Nigerian Universities through the NUC, the National Open University and all tertiary institutions in Nigeria and Overseas. The financial horizon of these efforts glows bright, rewarding, but at best reassuring.
The business environment turbulence currently being experienced in Nigeria has rather buttressed and reinforced the reading culture and interests of Nigerians in newspaper production, distribution and economic growth.
The educational expances have grown beyond measure in the last two decades; delivering knowledgeable and emancipated citizenry. The impact of this has remained the hurricane in literacy blowing to usher in the emerging IT world and global commercialization.
At the Daily Times we have repositioned our portals to queue in and harness the trends, the gains and the luminiscence of being in these global playing fields of news gathering and dissemination, either in print or within the blazing ICT revolution.
- Publisher/Editor in Chief – Fidelis Anosike
- Technical Adviser To Publisher- Innocent Nwankwo
- Group Managing Director- Noel Anosike
- Group General Manager- Olisa Egbunike 08034004224
- Editor, Daily- Rose Moses
- Deputy General Manager State House/Northern Bureau- Chief Tony Ailemen
- Special Projects Editor- Sam Nzeh
- Business Times Editor Andrew Odioko
- Deputy Editor, Daily- Ken Madueke
- News Editor- Kelechi C. Ogbamgba
- Group Political Editor- Lateef Ibrahim
- Sports Editor- Andrew Ekejiuba
- Features Editor- Gbubemi God’s Covenent Snr
- Ag. Head, Graphics/Design Sunday Gabriel Idagwu
Group Head Commercial & Marketing Konnie Agu 09033765031
Business Development Manager- Ifeanyi Emefu 08086296714
Adverts/Partnerships/ Corporate Subscription- Peter Akpose 08178780583
Circulation Manager- Segun Bamgboye