Nigerian Govt urges media organisations to apply for single-digit interest loans

Mohammed Idris Minister of Information

Mohammed Idris Minister of Information

By Ayorinde Oluokun/Abuja

The Federal Government said media organizations in the country can now take loans to boost their operations at a single-digit interest rate from the Bank of Industry (BOI).

Mohammed Idris, the Minister of Information and Orientation announced this on on Monday.

Idris who spoke at the Third Ministerial Sectoral Update at the National Press Centre in Abuja urged media organisations to come up with bankable proposals to enable them to benefit from the loans facilitated by the President Bola Tinubu administration through the Ministry of Trade and Investment as well as the BOI.

According to the Minister, the loan was aimed at helping media organizations in the country to thrive amidst the challenges confronting the industry.

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.

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“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.”

The Minister further noted that the ongoing briefing by the Ministers was in line with the directive of the Tinubu’s administration to be accountable to Nigerians by projecting the successes recorded in the Federal Government’s development objectives, known as the Renewed Hope Agenda.

“Distinguished guests and media colleagues, we are resolute in making sure that in communicating government activities, our watchword is to restore trust in public communication as we amplify policies and programmes of the President Tinubu administration,” he stated.

The Minister aadded that the government has made efforts to “ensure that the regular Briefing Series receives the widest possible coverage, through traditional and digital platforms to enlighten, inform and educate Nigerians and the world, and to ensure that everyone is carried along through the provision of detailed, relevant, credible and timely information”.

He, therefore, appealed to the press to report the Briefing Series objectively and responsibly, through their headlines and narratives.

Minister of Agriculture and Food Security, Senator Abubakar Kyari, and the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo made presentations on their respective scorecards during the third session of the Briefing Series.

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