President Bola Tinubu has instructed the Federal Ministry of Industry, Trade and Investment to provide single-digit interest financing to media organizations through the Bank of Industry. This announcement was made by Minister of Information and National Orientation, Mohammed Idris, during the sectoral press briefings marking the first anniversary of President Tinubu’s administration.
The Federal Government emphasized its commitment to creating a supportive environment for the media and information sectors. Idris highlighted that, in lieu of a formal ceremony for the first anniversary, ministers from President Tinubu’s cabinet would participate in sectoral briefings to detail their achievements and future plans.
Idris underscored the administration’s dedication to transparency and accountability, key components of the Renewed Hope Agenda. “We are creating an enabling environment for all players and stakeholders in the media and information ecosystem to thrive,” he said.
One significant initiative is the directive for single-digit interest-rate financing for media organizations. Idris encouraged media professionals to develop viable proposals to access this financing, reinforcing the government’s resolve to rebuild public trust and effectively communicate its policies and programs.
The minister called on media practitioners to take full advantage of this opportunity, signaling a strong governmental support for the media industry in Nigeria.
