A new online newspaper, Pinnacle Daily, has joined Nigeria’s growing media landscape with its official launch on Wednesday in Abuja, promising to ensure credible and business-focused journalism.
Speaking at the event, top media executives, policymakers, and industry veterans shared insights on navigating the challenges of modern journalism.
Chairman of Hapicom Nigeria Limited and Deputy President of the Nigerian Publishers Association, Akogun Mallam Ajibola, delivered the keynote address titled “The Economics of Media Business: Understanding Revenue Models and Profitability.”
Ajibola, a veteran journalist with nearly three decades of experience, described the birth of Pinnacle Daily as “a significant addition to Nigeria’s dynamic and fast-changing media space.”
“The emergence of new players in the media landscape is always worth celebrating, but it becomes even more meaningful when the medium is born into a rapidly changing digital world,” Ajibola said.
While recalling the evolution of the Nigerian press from the colonial-era Daily Times to today’s online platforms, he noted that “the world has changed, and so has the news business.”
He observed that readers no longer wait for tomorrow’s paper but demand breaking news, analysis, and video content “in real time.”
“The journey from print to digital was not easy, but it was necessary. We had to invest in online infrastructure, build social media presence, and diversify revenue streams,” he recalled.
He urged Pinnacle Daily and other emerging platforms to adopt multiple revenue models, ranging from digital advertising and subscription-based content to event partnerships and grants.
“In the digital media, the key is innovation, digital ads, premium content, events, and brand partnerships are the lifelines.
“Above all, credibility is money. The more trust you build with your readers, the more value your platform commands,” he explained.
Ajibola emphasized three pillars of media sustainability: human capital readiness, technology capital readiness, and profitability management.
He advised new entrants to prioritize small, skilled, cross-functional teams, robust technology systems, and strict financial accountability.
“If you can measure it, you can manage it—and if you can manage it, you can monetize it,” he said, urging journalists to rethink journalism not just as a social responsibility but as a viable business.
Chairman of the occasion and former Ogun State Governor, Olusegun Osoba, represented by veteran journalist, Chief Eric Teniola, commended the initiative behind Pinnacle Daily.
Osoba said the platform’s debut comes at a defining moment for the journalism profession, which is being reshaped by the Internet, artificial intelligence, and citizen reporting.
“No one can stop the tide of technology, but what will preserve journalism’s shine is professionalism anchored on ethics and truth,” he said.
He warned against the erosion of standards in the age of unverified citizen journalism, adding that credible digital platforms like Pinnacle Daily must lead the way in upholding factual and ethical reporting.
“Our duty as journalists is to show the light and lead the way. Even in this age of artificial intelligence and misinformation, true journalism will endure as long as we uphold its standards,” he said.
Chairman of Pinnacle Media, Mr. Abimbola Adesheyoju, described the platform as the outcome of three years of careful planning aimed at building a data-driven, value-oriented online newspaper.
“We didn’t want to be just another media outlet,” he explained. “Our focus is on the consumer, understanding what readers need, how they consume information, and delivering credible news that empowers decision-making.”
He paid tribute to the late DIG Ibrahim Lamorde, a pioneer director of Pinnacle Media, describing him as a visionary who believed in transforming the Nigerian media through technology.
Adesheyoju, who has over three decades of business management experience, said Pinnacle Daily would combine editorial excellence with sustainable business practices.
“We must see media as both a profession and a business. Technology is just a tool—the real task is to meet the needs of our audience with integrity and innovation,” he said.
With a mix of sober reflection and optimism, speakers at the event agreed that the future of journalism in Nigeria lies in how effectively the media can adapt to the digital revolution without compromising credibility.
Ajibola summed it up by saying “the future of media will be written by those who dare to adapt. Quality, content, and credibility will always command true value. If Pinnacle Daily embraces innovation and professionalism, it will not just survive, it will thrive.”
