Media Trust Group, publishers of Daily Trust and Aminiya, has announced an increase in the cover price of its newspaper, Daily Trust, citing Nigeria’s economic challenges.
The announcement on Saturday highlighted the rising cost of newspaper production and its impact on the media industry.
The new price, effective from October 1, 2024, raises the cost of Daily Trust from N250 to N300.This decision is in response to the growing expenses associated with print media production, driven by inflation and other economic factors.
“The cost of producing newspapers has significantly increased due to the economic challenges facing the country,” the statement said.
Nigeria has been dealing with economic difficulties, including a depreciating naira, high inflation, and rising fuel and production costs. These factors are affecting various sectors, including media, which depends on imported materials impacted by foreign exchange fluctuations.
The management noted the price adjustment but emphasized the need to maintain quality and adapt to changing conditions.
“We will continue to innovate to meet your reading needs,” the statement concluded.