Role of the Media in driving economic growth

Eze Anaba



By Eze ANABA,
Editor, Vanguard Newspapers



Many people assume growth and development to be the same. However, there is a significant difference between the two, though  growth is often a part of development. Growth refers to the increase in size and number whereas development refers to an improvement of circumstances. Put succinctly, while growth is more of quantitative change, development is more of qualitative measures in the change. Development mainly refers to progress and improvement. It often encompasses a growth as well as an improvement of circumstances. Thus, when something develops, the quality of that thing also improves. If a tree develops, it will not only change in size -it will stay healthy, bear fruits and continue growing.

The generic concept of development recognizes, among others, material advancement, human dignity, and the participation of the people in the development process. A new concept of development has emerged, which builds on the weakness of the people by factoring into it the promotion of the rights and security of the people. This type of development allows for effective participation of the people in the affairs of the state. However, for the media to be effective in playing its developmental role in a democratic environment, journalists must represent a strong binding agent between power and public, between society and politics or between particular persons, as the mass media is envisaged as an absolute communication environment, the only environment capable of mediating the bonds between the masses in modern societies.

With the above therefore, I would discuss  in the broader perspective, but where necessary I could use the two concepts interchangeably.

The topic, “Role of the Media in Driving Growth”, has been very trendy in the public space across all jurisdictions even at the United Nations. That goes to show how central the media, the fourth estate is in every society.

I want to quote- Wilbur Schramm, Father of Communication Studies, Stanford University. Who said: “By making one part of a country aware of other parts, their people, arts, customs, economy, and politics; by permitting the national leaders to talk to the people, and people to the leaders and to each other; by making possible a nation-wide dialogue on national policy; by keeping the national goals and national accomplishments always before the public, thus modern communication, widely used, can help weld together isolated communities, disparate subcultures, self-centered individuals and groups, and separate developments into a truly national development.”

Schramm ,was simply highlighting how  the media has turned out to be a formidable instrument in the quest for economic development.

The journey of integrating the media not a catalyst for development started as far back as 1948  when  the United Nations, UN, Conference on Freedom of Information declared access to information an essential freedom, one that underpins all others. Fourteen years later the UN called for all countries to include a media development strategy within their economic development plans. In addition to securing this fundamental right, they said, “information media have an important role to play in education, social and economic progress.”

A report of the UN Secretary-General’s High-level Panel of Eminent Persons on the Post-2015 Development Agenda, recognized the important role of independent media in bringing about good governance, something increasingly demanded by citizens across the globe. The report indicated that people want institutions that are transparent, responsive, capable and accountable with the media playing a catalytic role in making this to happen.

In defining the central role the media plays in sustainable development, a 2007 Panos report highlighted how information empowers people to determine their own development path. The report stated: “At its heart, development, if it is to be sustainable, must be a process that allows people to be their own agents of change; to act individually and collectively, using their own ingenuity and accessing ideas, practices and knowledge in the search for ways to fulfill their potential.”

A vibrant, independent media plays an essential role in delivering the information people need to participate in economic activities and respond to decisions that affect their economic lives.

There is a plethora of arguments over the role the media plays in the development of any society, and perhaps the positivists’ positions must have informed Nigeria’s Freedom of Information Act. I must add that there have also been suggestions that the media could be negative to a nation’s development agenda. Perhaps that may have informed the recent push for a “Hate Speech Bill” in the Nigeria’s National Assembly.

So I would say that the role of the media in economic development should be multidimensional in perspective, reflecting not just the macroeconomic numbers but also the socio-cultural and political dimensions of development. These dimensions are not isolated from each other, but rather interwoven.

I will try to restrict myself to the media engagement with issues that have direct impact on the economic life of the people.

Governance Impact: Governance, which is often couched in politics only, is more of economic actions of public officers which determine almost everything, every figures in the macroeconomic space.  For instance the issue of budgeting and allocation of scarce resources across many competing, and sometimes confliction, expenditure heads, is a lead focus for content in any serious media organization. Unfortunately, Nigerian media have had over-concentration on monetary to the detriment of the fiscal policy for content in financial reporting. It should be the other way round, especially for Nigeria’s economy that is predominantly public sector driven. I believe that fiscal policies have a way of been overbearing on monetary policy outcomes. We are all aware of CBN’s perennial battles to manage excess liquidity and pressures on the exchange rate arising from fiscal measures of the government. A fiscal policy focused media will educate, inform and galvanise the public against policies, including budgetary allocations that are counter-productive to economic interests of the citizens.

I would also note that the governance culture bedeviled by corruption has a negative impact on the monetary policy, macroeconomic environment and the society, particularly in furthering poverty and income inequality.

Corruption acts as a tax on productive activities in an economy, leading to the flow of resources to unproductive ones.

These should form major engagements of the media focused on development journalism.

Many studies show a robust link between a free, strong, independent media and restrained corruption. A free media should expose private and public sector corruption. It should check government officials and increase voters’ knowledge, allowing voters to hold corrupt politicians accountable during elections, thereby forcing politicians to be less bullish in corruption.

At this point, ladies and gentlemen, permit me to digress and mention how a national newspaper, commented on the shenanigans of a state governor in the south-south of the country who has turned budget speeches to street level comedy. The reason, I am raising this  is to prove how effective the media can be in the fight for development. This character, that is the governor in 2017, tagged his budget “budget of infinite transposition” In 2018 he saddled the poor people of his state with a budget of N1,3trillion he christened “Budget of Kinetic Crystallization” that was never implemented.

  • first published on December 30, 2019