Apparently concerned about the high cost of media production inputs, the federal government plans to support interested media houses with single-digit loan to keep them in business.
The Minister of Information and National Orientation, Mohammed Idris, announced the intervention at the ministerial performance briefing to mark the first year of the Tinubu administration in office.
The minister said the proposed loan for media establishments is being coordinated by the Bank of Industry.
The Minister said: “We are also creating an enabling environment for all players and stakeholders in the media and information ecosystem thrive.
“One highlight here is the recent directive by Mr. President to the Federal Ministry of Industry, Trade and Investment, through the Bank of Industry (BOI), to extend its single-digit interest-rate financing to media organizations in the country.
“It is now incumbent upon media practitioners to develop bankable proposals to access this financing facility being offered by the Federal Government.”
