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FG offers single-digit interest rate financing to media organisations


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The Federal Government has said that media organisations can now access a single digit interest rate financing from the Bank of Industry to enhance their constitutional responsibility and operations.

Minister of Information and National Orientation, Mohammed Idris, said this in his address at the Sectoral News Conference Series in Abuja.

“We are creating an enabling environment for all players and stakeholders in the media and information ecosystem to thrive.

“One commendable steps is the directive by Mr President to the Ministry of Industry, Trade and Investment, through the Bank of Industry (BOI), to extend its single-digit interest-rate financing to media organisations.

“It is incumbent upon media practitioners to develop bankable proposals to access this financing facility being offered by the Federal Government, and I hope the media will take advantage of this opportunity,” Idris said.

The news conference is a sectoral update from the various ministries on the one year anniversary of President Bola Tinubu.

The conference is organised by the Ministry of Information and National Orientation in collaboration with the Secretary to the Government of the Federation.

According to Mr Idris, the news conference is in line with the desire of Tinubu not to dwell on fanfare in his first year but to fully be accountable to Nigerians.

He added that the accountability include, projecting the successes recorded in the Federal Government’s development objectives, known as the Renewed Hope Agenda

Mr Idris said that his ministry was resolute in making sure that, in communicating government activities, its watchword is to restore trust in public communication.

The minister stated that the organisers of the news conference have made efforts to ensure that this series received the widest possible coverage, through traditional and digital platforms.

He urged the media to report objectively and responsibly, through the headlines and the narratives from the news conference to the world.



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