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Tinubu Extends Single-digit Interest Rate To Media Outfits

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President Bola Tinubu has directed the Federal Ministry of Industry, Trade and Investment to extend its single-digit interest rate financing to media organisations in the country.

The Minister of Information and National Orientation, Mohammed Idris stated this in Abuja on Wednesday when he received members of the Independent Broadcasting Association of Nigeria (IBAN) on a courtesy visit to his office.

Idris said the gesture is in keeping with the administration’s resolve to create an enabling business environment for the media to operate in Nigeria.

He said: “Let me say that the Federal Ministry of Information and National Orientation under my leadership, as part of our five pillars, will support all media platforms in this country, whether they are public or private.

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“I can tell you that the President has directed the Federal Ministry of Industry, Trade and Investment to extend financing to media organizations at single-digit interest rates. I think you need to take advantage of that.”

He urged IBAN members to develop bankable proposals to access the financing facility being offered by the Federal Government.

The minister advised private broadcasters to key into the Compressed Natural Gas (CNG) Initiative of the Federal Government to bring down the cost of their operations through cheaper access to energy.

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Ige Olugbenga is a fine-grained journalist. He loves the smell of a good lead and has a penchant for finding out something nobody else knows.