Economic Hardship: Popular Radio Station Announces Closure

Megalectrics on Thursday announced the temporary closure of its radio stations, The Beat 97.9FM and Naija FM 102.7FM, in Ibadan.

In a statement, the chief executive officer of Megalectrics, Christopher Ubosi, said the temporary closure was due to the prevailing economic conditions in the country.

He, however, said other stations in Lagos, Port Harcourt, Abuja and London were all fully operational.

Ubosi said the temporary closure of the two stations would allow the company to regroup, restructure, and emerge stronger, providing an even better experience for “our valued staff, clients, and the loyal listening public”.

He said: “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.

“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.

“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.”

Ubosi noted that public trust in them “had been the driving force behind our success” and that the organisation remains committed to maintaining open lines of communication, “as we work together to create innovative solutions that will benefit all parties involved”.