FG proposes single-digit interest loan facility for media houses

As a measure to ameliorate the tough operating environment, the federal government has disclosed plans to extend its single-digit interest-rate financing to media organisations in the country.

Minister of Information and National Orientation, Mohammed Idris, stated this on Monday in Abuja at the continuation of the sectoral briefing by ministers to mark the first anniversary of the President Bola Tinubu’s administration. 

He said President Tinubu has already given the directive to the Federal Ministry of Industry, Trade and Investment, through the Bank of Industry (BOI), to extend the rate to the media industry. 

The minister urged the media houses to come up with workable proposals to access the loan. 

He said the government is keen to restore public trust in communicating information and creating enabling environment for media players. 

He said: “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. 

“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.”

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