NEWSPAPER REPORTAGE OF ECONOMIC RECESSION IN NIGERIA JANUARY TO JUNE 2017

ABSTRACT

Newspapers play a central role in being the eye of communication through which facts, information and news circulates in the society and communicate a host of cues about the relative salience of the objects on their daily agenda. This study was conducted to analyse newspaper coverage of economic recession using three Nigerian dailies of The Punch, ThisDay and The Nation. Content analysis method was utilised and code sheet was the instrument for data collection. Social responsibility and agenda setting theories were adopted as the study’s theoretical foundation. The researcher utilised purposive sampling technique in selecting editions of the newspapers under study. The sample size for the study was 144. Key findings of the study revealed that the select newspapers gave adequate attention to the coverage of Economic Recession within the period of January to June, 2017. The researcher therefore recommends that government should always update the print media with strategy or measure that they have put in motion to douse the economic menace of recession from reoccurrence. This will help the media in informing the public with accurate information.


TABLE OF CONTENTS
Pages
Title Page – – – – – – – – i
Declaration – – – – – – – – ii
Certification – – – – – – – – iii
Dedication – – – – – – – – iv
Acknowledgements – – – – – – – v
Abstract – – – – – – – – vi
Table of Contents – – – – – – – vii
List of Tables – – – – – – – – x
CHAPTER ONE: INTRODUCTION
1.1 Background of the Study – – – – – – 1
1.2 Statement of the Problem – – – – – – 5
1.3 Objectives of the Study – – – – – – 5
1.4 Research Question – – – – – – – 6
1.5 Significance of the Study – – – – – – 6
1.6 Scope of the Study – – – – – – – 7
1.7 Definition of Terms – – – – – – – 7
References
CHAPTER TWO: REVIEW OF LITERATURE
2.1 Review of Concepts – – – – – – – 9
2.1.1 Economic Recession – – – – – – – 9
2.1.2 Causes of Economic Recession – – – – – 11
2.1.3 Effects of Economic Recession – – – – – 15
2.1.4 Newspaper and Economic Reporting – – – – – 17
2.2 Review of Related Theoretical Studies – – – – 18
2.3 Review of Empirical Studies – – – – – – 20
2.4 Theoretical Framework – – – – – – 23
2.4.1 Social Responsibility Theory – – – – – – 23
2.4.2 Agenda Setting Theory – – – – – – 24
References
CHAPTER THREE: RESEARCH METHODOLOGY
3.0 Introduction – – – – – – – – 30
3.1 Research Design – – – – – – – 30
3.2 Population of the Study – – – – – – 31
3.3 Sample Size and Sampling Procedure – – – – 31
3.4 Unit of Analysis – – – – – – – 31
3.5 Content Categories – – – – – – – 32
3.6 Coding – – – – – – – – – 33
3.7 Inter-Coder Reliability – – – – – – 33
3.8 Method of Data Analysis – – – – – – 34
References
CHAPTER FOUR: DATA PRESENTATION, ANALYSIS AND DISUCSSION OF FINDINGS
4.1 Description of the Sample – – – – – – 36
4.2 Data Presentation and Analysis – – – – – 36
4.3 Discussion of Findings – – – – – – 45
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1 Summary of Findings – – – – – – – 48
5.2 Conclusion – – – – – – – – 48
5.3 Recommendations – – – – – – – 49
5.4 Suggestions for Further Studies – – – – – 50
References
Appendix

LIST OF TABLES
Table 1: Coder 1 (Master Coder) – – – – – 37
Table 2: Coder 2 (Trained Coder) – – – – – 37
Table 3: Coder 1 (Master Coder) – – – – – 39
Table 4: Coder 2 (Trained Coder) – – – – – 39
Table 5: Coder 1 (Master Coder) – – – – – 40
Table 6: Coder 2 (Trained Coder) – – – – – 41
Table 7: Coder 1 (Master Coder) – – – – – 42
Table 8: Coder 2 (Trained Coder) – – – – – 42

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

Recession is a period characterized by a sharp slowdown in economic activity, declining employment and a decrease in investment and consumer spending (Garner, 2009). According to Anthony (2017) economic recession is a downturn in the economy. It is often characterised by symptoms such as rising prices of goods and services, inability of government to meet its financial obligations, exchange rate fluctuations, and poor performance of other macroeconomic variables which defines the state of the economy per time. Economic recession is a recurrent issue because of the cyclical nature of the global economy (Farayibi, 2016). The Nigerian economy entered into recession in 2016 having recorded as low as 0.36%, – 1.5% and 0.8% growth rates in the first, second and fourth quarters in 2016 respectively (Noko, 2017).
On the other hand, the media as the fourth estate of the realm have assumed the position of eminence in the present world and this explains why it is perceived as the nexus that links the overall economic development of any society. Perhaps the acceptance of this truth explains why Golding (1977) cited by Oboh (2004, p. 37) opines that it is meaningless to discuss any social institution without reference to the mass media because such institution does not operate in isolation. The economic stability and social-political development of any society is predicated upon the policies and programme put in place by the political class (Owolabi, 2014).The business group on the other hand translates these economic policies into actual product and services that determine the Gross Domestic Product (GDP) of the country. The media on its part report the comments and views of the people about the activities of government, its agencies and non-governmental institutions (Folarin 2005, p. 95).
Newspapers are one of the key sources of information about developments, especially the state of the national macro economy. The attention to and tone of economic news varies depending on the economic situation. Economic news reflects change in economic development rather than the absolute state of the economy. Meaning that, when the economy is doing well, this is not newsworthy per se (De Boef and Kellstedt, 2004). On the other hand, how the economy is developing and where it is heading is newsworthy.

According to Schoenbach, et al (2005, p. 245-246), printed newspapers are known to widen the range of public topics, events and issues in other to increase the awareness of its audience. He added that the way newspapers are structured and design is intended to lure readers into reading stories they may not have been interested in beforehand, including financial stories. Owolabi (2014) states that research show that newspapers improve their readers’ knowledge of what is going on around them. It follows therefore that newspaper reports increase awareness and provide detailed explanations of a greater number of public affairs topics than other information channels. “Newspapers serve as a significant function for the public agenda in that they broaden the knowledge base of the public who have a rather small range of interest(s)” (Owolabi, 2014, p. 12).
According to Anthony (2017), Nigeria economy was in shambles in 2017. The economic activities were ill due to the sharp fall in Gross Domestic Product (GDP) which was reduced to -15%, meaning that the Nigeria economy was in recession. Anthony (2017) further says that there was high retrenchment of labour forces in the country and output was at all times low. Power supply from the national grid dropped to 2.828mw. Average airline load factor declined for the third consecutive months in of July 2016. Oil production dropped to 1.4 million barrel per day mainly from the offshore and deep water assets, Rowane (2016). Of course, the recent economic recession in Nigeria emerged like a thunderbolt at the instance of the negative growth rates recently released by the National Bureau of Statistics (NBS). This admission was just an official declaration of the situation the Nigerian masses have been battling with for quite some time. The antecedents in the country provided justification for this economic woe.