News

May 28, 2024

FG plans single-digit loan for media houses

Security

Minister of Information, Mohammed Idris

By Soni Daniel

Abuja- Apparently concerned about the high cost of production inputs, the federal government plans to support interested media houses with single-digit loans to keep them in business.

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.

He said the proposed loan for media establishments was being coordinated by the Bank of Industry, BOI.
He said: “We are also creating an enabling environment for all players and stakeholders in the media and information ecosystem to 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.”