Presidency Speaks On Rationale Behind Single-Digit Loans For Media

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The administration has disclosed the rationale behind providing media organizations nationwide with loans at interest rates in the single digits. President Tinubu decided to provide media organizations in the nation finance at single digit interest rates because he wanted to see them succeed, according to Mohammed Idris, Minister of Information and National Orientation.

At the current Ministerial Sectoral Update on Monday in Abuja to commemorate the one year of the Tinubu Administration, Idris revealed this.This was disclosed in a statement released on Monday by Rabiu Ibrahim, the Minister of Information and National Orientation’s Special Assistant (Media).

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”.

Thus, he urged the media to use their headlines and narratives to cover the Briefing Series in an impartial and responsible manner.

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

In honor of his first anniversary in office, Tinubu gave his ministers instructions last week to provide their performance reports to the people of Nigeria. According to Idris, the action was consistent with the administration’s goal of establishing a supportive economic climate that will foster the growth of the nation’s media.

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