NTA to Compete with CNN with $500m Loan

Minister of Information and Culture, Lai Mohammed, has pledged to turn around the Nigerian Television Authority (NTA) to enable it compete with the likes of Cable News Network (CNN) if the $500m loan the ministry requested is approved. He stated this when he appeared before 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.

The minister explained that if the fund was approved, the NTA could 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.

He said the creative industry employs no fewer than one million young persons directly and indirectly, noting, “If this project is approved, there will be more visibility for our people in the music, fashion and film industries.

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