Nigeria, June 18 -- The Nigerian news industry continues to transform and innovate, but economic pressures, including cuts to US budgets for media support, cast a shadow over its future, according to a report released on Tuesday.

The Digital News Report, published by the Reuters Institute for the Study of Journalism, said rising operational costs, declining advertising revenues, reduced donor funding, and fluctuating exchange rates remained a serious threat to media sustainability in Nigeria.

Despite the challenges, however, trust in the media is high in Nigeria (68 per cent) and is the highest in the world, the report noted, followed by Finland (67 per cent).

The report acknowledged that digital media platforms are growing in the coun...