President Bola Tinubu has instructed the Federal Ministry of Industry, Trade and Investment to finance media companies in the nation at single-digit interest rates through the Bank of Industry.
The first anniversary of President Tinubu’s administration was marked by sectoral press briefings, where Mohammed Idris, the Minister of Information and National Orientation, revealed this.
This was in line with the Federal Government’s declaration that it was committed to creating an atmosphere that would benefit the media and information industries.
Last Monday, the Federal Government confirmed through Idris that there will be no celebration to honour President Tinubu’s one anniversary in office.
Instead, he stated that the president’s cabinet ministers would be highlighted in sectoral briefings to provide an update on their stewardship.
In his Monday speech, Idris emphasised the administration’s stance on accountability and openness, which he claimed were essential 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.
“One highlight here is the recent directive by Mr President to the Federal Ministry of Industry, Trade, and Investment, through the Bank of Industry, to extend its single-digit interest-rate financing to media organisations 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 said.
The minister urged media professionals to seize the financing opportunity, reinforcing the government’s resolve to rebuild public trust in communication and effectively promote its policies and programmes.
