FG To Borrow $500m Loan To Rebrand NTA For It To Compete Like CNN

February 10, 2020
8 Views
NTA

The minister of information, Lai Mohammed has revealed plans by his ministry to borrow $500 million loan which will be channeled to the Nigeria Television Authority (NTA) to enable it compete with the likes of Cable News Network (CNN).

According to the TheGuardian, the minister as saying this when he appeared before the senate committee on local and foreign loans.

The $500 million is part of the $30 billion loan President Muhammadu Buhari is asking the national assembly to approve.

Mohammed said NTA can only achieve this feat when it is digitised, and that there is already manpower in place.

“If this project is approved, there will be more visibility for our people in the music, fashion and film industries,” he said.

“In 2014, we made $23 million from music alone and about $53 million in 2019 and we are looking forward to making $83 million in 2025.

“You can imagine the kind of growth we will have if only we digitise all the NTA stations in the country.”

The minister also said the creative industry is a major employer of the youth.

“Apart from agriculture, which is the largest employer of labour in Nigeria, especially the youths, the next largest employer of labour is the creative industry,” he said.

“The International Telecommunication Union (ITU) in 2006 gave June 17, 2015 as deadline for all members of the organisation to migrate from analogue to digital.

“Regrettably, we were unable to meet the deadline along-side most countries in sub-Saharan Africa, the deadline was moved to 2017, which was not reliable and today the target is June 17, 2020.”

You may be interested

FG Reveals It Is Trying To Do With All The Contacts Of Italian Man With Coronavirus
News
News

FG Reveals It Is Trying To Do With All The Contacts Of Italian Man With Coronavirus

Webby - February 28, 2020

File photo According to Leadership, as Nigeria confirmed first case of coronavirus disease (COVID-19) case in Lagos State, the Federal…

Is It True That Italian Infected With Coronavirus In Nigeria Works With Agip, Here Is What We Know
News
News

Is It True That Italian Infected With Coronavirus In Nigeria Works With Agip, Here Is What We Know

Webby - February 28, 2020

Agip The deputy governor of Lagos state, Obafemi Hamzat has debunked reports that an Italian diagnosed of coronavirus in Lagos works…

Why The Coronavirus Outbreak In Italy Is Currently Sparking Fears In Edo State
News
1 views
News
1 views

Why The Coronavirus Outbreak In Italy Is Currently Sparking Fears In Edo State

Webby - February 28, 2020

Photo used only for illustrative purpose A report by The Nation has shown that the outbreak of coronavirus in Italy…

Leave a Comment

Your email address will not be published.