The Information and Culture Minister, Lai Mohammed has claimed that the Nigeria Television Authority (NTA) would be able to compete with television stations like Cable News Network (CNN) should the ministry get approval for a $500 million loans.
Mohammed was quoted to have made this claim when he spoke before the Nigerian Senate committee on local and foreign loans.
He told the lawmakers that the $500 million loan was very important to the ministry. The loan is part of the $30 billion loan President Buhari wants the lawmakers to approve, was very important
He said, “If this project is approved, there will be more visibility for our people in the music, fashion and film industries. In 2014, we made $23 million from music alone and about $53 million in 2019 and we are looking forward to making $83 million in 2025.
“You can imagine the kind of growth we will have if only we digitize all the NTA stations in the country.”
Lai Mohammed also said that the creative industry remained the second largest employer of the youth.
He said, “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.
“The International Telecommunication Union (ITU) in 2006 gave June 17, 2015, as the 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-Saharan Africa, the deadline was moved to 2017, which was not reliable and today the target is June 17, 2020.”