The federal government, in response to the escalating cost of media production, plans to offer single-digit interest loans to support media houses.
This announcement was made by the Minister of Information and National Orientation, Mohammed Idris, during the ministerial performance briefing marking the first year of the Tinubu administration.
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The proposed loan scheme will be managed by the Bank of Industry (BOI). Minister Idris emphasized the government’s commitment to fostering a supportive environment for media and information stakeholders. He highlighted President Tinubu’s directive to the Federal Ministry of Industry, Trade and Investment to facilitate this financial assistance through the BOI.
Media practitioners are now encouraged to develop viable proposals to access this funding, ensuring their sustainability in the challenging economic landscape.
