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FG Unveils Single-Digit Interest-Rate Financing for Media Organizations

Abuja, Nigeria – In a bid to support media organizations and alleviate the challenges they face in the current operating environment, the federal government has unveiled plans to offer single-digit interest-rate financing.

The announcement came from the Minister of Information and National Orientation, Mohammed Idris, during a sectoral briefing marking the first anniversary of President Bola Tinubu’s administration.

Minister Idris revealed that President Tinubu has already directed the Federal Ministry of Industry, Trade and Investment, in collaboration with the Bank of Industry (BOI), to extend this favourable interest rate to the media industry. He urged media houses to seize this opportunity by submitting viable proposals to access the loan facility.

The government’s initiative aims not only to provide financial assistance but also to restore public trust in the dissemination of information. Minister Idris emphasized the importance of fostering an enabling environment for media players and stakeholders to thrive.

During his address, Minister Idris stated, “We are resolute in our mission to restore trust in public communication as we amplify the policies and programs of the President Tinubu administration. The recent directive by Mr. President to the Federal Ministry of Industry, Trade and Investment, through the Bank of Industry (BOI), to extend single-digit interest-rate financing to media organizations in the country is a testament to our commitment. It is now incumbent upon media practitioners to develop bankable proposals to access this financing facility being offered by the Federal Government, and I hope that you, the media, will take full advantage of this great opportunity.”

This announcement has been met with enthusiasm by media houses across the nation. The prospect of accessing affordable financing will undoubtedly inject vigour into the media sector, enabling organizations to invest in cutting-edge technology, talent development, and expansion plans.

As the media industry prepares to submit its proposals, expectations are high for a surge in innovative projects and initiatives that will contribute to Nigeria’s media landscape.

Efecha Gold
Efecha Goldhttps://goldennationmultimedia.com/
Multimedia Expert, Journalist, and Singer.
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