Thu, 18 Jul 2024


Why we are giving single-digit loans to media firm- Presidency
By: Abara Blessing Oluchi
Mon, 27 May 2024   ||   Nigeria,

The presidency has revealed why single-digit interest-rate financing was extended to media organisations across the country.

The Minister of Information and National Orientation, Mohammed Idris, said President Tinubu’s desire to support the media to thrive informed his decision to extend single-digit interest-rate financing to media organisations in the country.

Idris disclosed this in Abuja on Monday at the ongoing Ministerial Sectoral Update to mark the first year of the Tinubu Administration.

The Special Assistant (Media) to the Minister of Information and National Orientation, Rabiu Ibrahim, revealed this in a statement on Monday.

He 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 organizations in the country.

“It is now incumbent upon media practitioners to develop bankable proposals to access this financing facility being offered by the Federal Government and I hope that you the media will take full advantage of this great opportunity.”

He added that Tinubu has 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.

“Distinguished guests and media colleagues, we are resolute in making sure that in communicating government activities, our watchword is to restore trust in public communication as we amplify policies and programmes of the President Tinubu administration,” he stated.

Idris added that the government has made efforts to “ensure that the regular Briefing Series receives the widest possible coverage, through traditional and digital platforms to enlighten, inform and educate Nigerians and the world, and to ensure that everyone is carried along through the provision of detailed, relevant, credible and timely information”.

He, therefore, appealed to the press to report the Briefing Series objectively and responsibly, through their headlines and narratives.

Minister of Agriculture and Food Security, Senator Abubakar Kyari, and the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo made presentations on their respective scorecards during the third session of the Briefing Series.

Last week, Tinubu directed his ministers to present their performance reports to Nigerians in commemoration of his first anniversary in office.

Idris said the move was in line with the administration’s resolve to create an enabling business environment for the media in the country to thrive.


Back to News