Daily Times is the first substantive Nigerian daily newspaper, founded by a member of the Lagos Chamber of Commerce, Richard Braw, with a group of other European businessmen and Adeyemo Alakija. The first publication of this paper came out in June 1, 1926. Alakija co-founded the Daily Times newspaper in 1926, the tabloid which will dominate for the next few decades. Of course the paper was pro-government but profit was made still because of the patronage of European firms who placed adverts. This was the norm of journalism in his time, for none would have survived without the support of biased financiers. The International Publishing Corporation of London took over the Daily Time enterprise in 1948.
The Nigerian government completed its acquirement of the newspaper company in 1977, therefore leading to its sure decline in objectivity. The Folio Communications Limited took possession following the 2004 privatization of the company.
