$500 Loan Will Enable NTA Compete With CNN, Give Nigerian Creative Industry Global Visibility- Lai Mohammed
Nigeria’s Information and Culture Minister, Lai Mohammed, has said that funding the Nigerian Television Authority (NTA) with half a billion dollars will enable it compete with the likes of Cable News Network (CNN), and give the entertainment and creative industry global visibilty, it has emerged.
The Minister stated this while appearing before the Senate Committee on Local and Foreign Loans to defend the $500m loan the ministry applied for from President Muhammadu Buhari’s $29.96b loan for funding critical infrastructure in the country, Guardian reports.
According to the Minister, if the fund is approved, the NTA will be upgraded to enable it to send out signals that would be at par with CNN, “because we have the manpower and the technology.”
He explained that the creative industry was not just about Television alone, but film, music, fashion and photography, adding that there was no better platform to showcase Nigeria’s talents than having a digital system.
Stating that the industry employs no fewer than one million young persons directly and indirectly, noting, he added:
“If this project is approved, there will be more visibility for our people in the music, fashion and film industries.
“In 2014, we made $23m from music alone and about $53m in 2019 and we are looking forward to making $83m in 2025. You can imagine the kind of growth we will have if only we digitise all the NTA stations in the country.”
He said the project for which the ministry planned to borrow the $500m was about employment and revenue generation, saying the industry contributes 1.492 to the nation’s Gross Domestic Product (GDP).
“Apart from agriculture, which is the largest employer of labour in Nigeria, especially the youths, the next largest employer of labour is the creative industry,” he said, insisting that the $500m would go a long way in improving the creative industry.
“The International Telecommunication Union (ITU) in 2006 gave June 17, 2015 as deadline for all members of the organisation to migrate from analogue to digital. Regrettably, we were unable to meet the deadline along side most countries in sub-Sahara Africa, the deadline was moved to 2017, which was not reliable and today the target is June 17, 2020,” he stated.
He restated the need for the country to meet the new deadline because if the world migrates from analogue to digital and Nigeria remains analogue, it meant that it would be unable to enlighten, entertain and educate Nigerians. He said the loan was aimed at establishing the media and culture industry centre at the cost of $245m, digitise all NTA stations at $11m and construct integrated television services to infuse on network, which is signal distributor and essential component of the digitisation project.
Nigerians on Twitter have reacted to the proposed loan by the Information Minister. See some reactions below:
It is with a heavy heart that I have to inform you that Lai Mohammed is at it again https://t.co/69NFEaBipz
— tyro (@DoubleEph) February 10, 2020
Everything Lai Mohammed has said with his mouth. https://t.co/fPQL8KZ7xc
— Omezuo 1 (@Okafor_Mang) February 10, 2020
Lai Mohammed requested $500m loan to transform Nigerian Television Authority (NTA) to Cable News Network (CNN)?
— AyeMojubar 🎗 (@ayemojubar) February 10, 2020
Nigeria, put Lai Mohammed in your prayers! 😆🤣https://t.co/tXlW23liU2
The same Lai Mohammed that said we would fight Israel has come out again to say NTA would compete with CNN. NTA that uses CCTV camera for all the publications.
— AJ | Adonai (@mrmanhere_) February 10, 2020
This Nigeria na cruise abeg 😂
Lai Mohammed requested for $500M loan from the Senate Committee on Local and Foreign loans, because he’s trying to turn NTA to CNN. $500m is over 170 billion Naira, EFCC should probe Lai Mohammed for even having that thought.
— Zaddy Ajala (@UNCLE_AJALA) February 10, 2020
Apart from reach, i promise you that NTA cannot even compete with Emmanuel TV.
— the Morris Monye factor (@Morris_Monye) February 10, 2020
Lai Mohammed should sit!
I totally agree with Lai Mohammed that NTA would compete with CNN .Is it not the same Lai Mohammed that said we would fight Israel ? 😂
— Hero Daniels🇳🇬 (@hero_daniels) February 10, 2020
Let’s start by changing the soundtrack of Network news
what’s pa pa pa…pa pa pa pa . Pararaan pararraaaann … para pa pa pa Pam . Param Pam
