The Minister of Information and National Orientation, Alhaji Muhammed Idris, has announced the government’s intention to provide single-digit interest rate facilities to the Nigerian broadcast industry.
This announcement was made during a courtesy call by officials from the Broadcasting Organisation of Nigeria BON in Abuja.
Alhaji Idris revealed that President Bola Ahmed Tinubu has directed the Bank of Industry to facilitate this initiative, aiming to support and enhance the media industry in the country.
“The Minister of Commerce and Industries has received instructions to ensure the smooth facilitation of the loan when it becomes due,” added Alhaji Idris.
Emphasising the government’s commitment to addressing challenges within the broadcast industry and aligning with global best practices, the Minister highlighted President Bola Ahmed Tinubu’s dedication to sustaining the sector by providing significant financial support to overcome current economic challenges.
Furthermore, the Minister expressed the government’s willingness to collaborate with private media entities to create an enabling environment for seamless business operations in the country.
Alhaji Abdulhameed Dembos, the Director General of NTA and the new Chairman of the Association conveyed appreciation for the government’s efforts in involving the media.
He also called for the return of the media spectrum from the NCC to the appropriate agency to streamline activities.
Dembos, advocating for more collaboration with the government, urged a holistic review of the digitisation process of the media industry, emphasizing the necessity of providing the required funds for the migration.
The courtesy call included the presence of Directors General Mallam Jibrin Baba Ndace of Voice of Nigeria VON, Dr. Mohammed Bulama of FRCN, and Mr. Charles Ebuebu of the National Broadcasting Commission NBC.
Dominica Nwabufo
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