Presidency Clarifies Reasoning Behind Single-Digit Loans for Media Outlets


Mohammed-Idris-Single-digit Loans

The presidency has revealed why single-digit interest-rate financing was extended to media organisations across the country.

The Minister of Information and National Orientation, Mohammed Idris, said President Tinubu’s desire to support the media to thrive informed his decision to extend single-digit interest-rate financing to media organisations in the country.

Idris disclosed this in Abuja on Monday at the ongoing Ministerial Sectoral Update to mark the first year of the Tinubu Administration.

The Special Assistant (Media) to the Minister of Information and National Orientation, Rabiu Ibrahim, revealed this in a statement on Monday.

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.”

Leave A Reply

Your email address will not be published.