FG explains low-interest finance proposal for media houses

Special Adviser to the President on Information and Strategy, Bayo Onanuga (left); Minister of Aviation, Festus Keyamo; Minister of Budget and Economic Planning, Abubakar Bagudu; and Minister of Information and National Orientation, Mohammed Idris at the Ministerial Sectoral update to mark President Bola Tinubu’s first anniversary, in Abuja…yesterday. PHOTO: NAN

Minister of Information and National Orientation, Mohammed Idris, has said that the Federal Government’s decision to extend single-digit interest-rate financing to media organisations in the country was part of President Bola Tinubu’s desire to support the media to thrive.

He said this, yesterday, in Abuja, at the ongoing Ministerial Sectoral Update to mark the first year of the Tinubu administration.


Idris 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 organisations in the country.”

The minister said the President had decided not to dwell on fanfare in his first year but to fully be accountable to Nigerians by projecting the successes recorded in the Federal Government’s development objectives, known as the Renewed Hope Agenda.

He noted that the ministry was resolute in making sure that in communicating government activities, the aim was to restore trust in public communication as we amplify policies and programmes of the President Tinubu administration.

Idris said the government had made efforts to ensure that the regular briefing series received the widest possible coverage, through traditional and digital platforms to enlighten, inform and educate Nigerians and the world.

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