FG To Grant Soft Loans To Media Organisations  

Cat:

Related stories

How Dangote Raised Petrol Price To N955 From N899/litre For Bulk Buyers

By Kolawole Ojebisi Dangote Petroleum Refinery has announced an upward...

US Court Jails 3 Nigerians Over $2m Fraud Scheme

By Kolawole Ojebisi At least three Nigerian nationals have been...

“This Is A Good Development For Nigeria,” Says Tinubu As He Lauds Governors On Tax Reform Bills

By Abiola Olawale President Bola Ahmed Tinubu has commended Nigerian...

Fresh Outage: Presidential Villa Affected As Vandals Steal Electricity Cables In Abuja

By Kolawole Ojebisi Residents of the Federal Capital Territory (FCT),...

Parting Gift: Biden Sets Record, Grants Clemency To 2,500 People

By Kolawole Ojebisi Barely seventy-two hours to his handing over...
  • Accelerates all-year-round farming of 118,657 hectares of wheat in 15 states 

By Joel Okwara

Following an appeal by Mr Ediri Oyibo, Editor of online newspaper, TheNewsGuru.com (TNG), for stakeholders to rethink funding models for media organisations, the Federal Government has said media organisations in the country will now have access to single-digit interest loans through the Bank of Industry (BOI).

Minister of Information, Mohammed Idris, made the position of the government known on Monday, May 27, at the Third Ministerial Sectoral Update at the National Press Centre in Abuja.

Mr Oyibo had, in a paper presented on the survival of newsrooms in Nigeria, at the Centre for Journalism, University of the Witwatersrand, Johannesburg, South Africa, stressed the need for institutional support for media organisations in the country.

Citing the example of Google News Initiative (GNI) Journalism Emergency Relief Fund (JERF), the TNG Editor noted that quality journalism is capital-intensive, joining professionals and scholars in the media industry to call for the establishment of a National Media Development Fund in Nigeria.

Announcing the single-digit interest loans, Idris urged media houses to develop bankable proposals, to enable them benefit from the loans, which he said would be facilitated through the Ministry of Trade and Investment as well as the BOI.

The single-digit interest loan offered by the government to media firms in the country is coming at a time when the Central Bank of Nigeria (CBN) jacked up interest rate from 24.75 per cent to 26.25 per cent.

In a related development, the Minister of Agriculture and Food Security, Abubakar Kyari, has said that an estimated 309bn has been injected into the Nigerian economy through harvest in the past one year.

Kyari made the announcement while giving an update on the achievements of the ministry, as part of activities marking the first anniversary of President Bola Tinubu.

He revealed that as part of efforts to address food and nutrition security, the government has launched the dry season farming with cultivation of 118,657 hectares of wheat in 15 states in acceleration of all-year round farming.

He also said the government has procured and distributed to all states and the Federal Capital Territory, 58,500 metric tones of milled rice to dampen escalating prices and the fortification of crops with vitamin A micronutrient, to enrich nutrition content and health value of commodities.

In response to persistent food inflation, the minister explained that the government has taken measures to distribute 60,432 metric tones of improved seeds, 887,255 metric tones of seedlings and 62,328 metric tones of inorganic fertilizers and equipment to farmers across different value chains, to enhance production.

The New Diplomat
The New Diplomathttps://newdiplomatng.com/
At The New Diplomat, we stand for ethical journalism, press freedom, accountable Republic, and gender equity. That is why at The New Diplomat, we are committed to speaking truth to power, fostering a robust community of responsible journalism, and using high-quality polls, data, and surveys to engage the public with compelling narratives about political, business, socio-economic, environmental, and situational dynamics in Nigeria, Africa, and globally.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

[tds_leads input_placeholder="Your email address" btn_horiz_align="content-horiz-center" pp_msg="SSd2ZSUyMHJlYWQlMjBhbmQlMjBhY2NlcHQlMjB0aGUlMjAlM0NhJTIwaHJlZiUzRCUyMiUyMyUyMiUzRVByaXZhY3klMjBQb2xpY3klM0MlMkZhJTNFLg==" pp_checkbox="yes" tdc_css="eyJhbGwiOnsibWFyZ2luLXRvcCI6IjMwIiwibWFyZ2luLWJvdHRvbSI6IjQwIiwiZGlzcGxheSI6IiJ9LCJwb3J0cmFpdCI6eyJtYXJnaW4tdG9wIjoiMTUiLCJtYXJnaW4tYm90dG9tIjoiMjUiLCJkaXNwbGF5IjoiIn0sInBvcnRyYWl0X21heF93aWR0aCI6MTAxOCwicG9ydHJhaXRfbWluX3dpZHRoIjo3NjgsImxhbmRzY2FwZSI6eyJtYXJnaW4tdG9wIjoiMjAiLCJtYXJnaW4tYm90dG9tIjoiMzAiLCJkaXNwbGF5IjoiIn0sImxhbmRzY2FwZV9tYXhfd2lkdGgiOjExNDAsImxhbmRzY2FwZV9taW5fd2lkdGgiOjEwMTksInBob25lIjp7Im1hcmdpbi10b3AiOiIyMCIsImRpc3BsYXkiOiIifSwicGhvbmVfbWF4X3dpZHRoIjo3Njd9" display="column" gap="eyJhbGwiOiIyMCIsInBvcnRyYWl0IjoiMTAiLCJsYW5kc2NhcGUiOiIxNSJ9" f_msg_font_family="downtown-sans-serif-font_global" f_input_font_family="downtown-sans-serif-font_global" f_btn_font_family="downtown-sans-serif-font_global" f_pp_font_family="downtown-serif-font_global" f_pp_font_size="eyJhbGwiOiIxNSIsInBvcnRyYWl0IjoiMTEifQ==" f_btn_font_weight="700" f_btn_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTEifQ==" f_btn_font_transform="uppercase" btn_text="Unlock All" btn_bg="#000000" btn_padd="eyJhbGwiOiIxOCIsImxhbmRzY2FwZSI6IjE0IiwicG9ydHJhaXQiOiIxNCJ9" input_padd="eyJhbGwiOiIxNSIsImxhbmRzY2FwZSI6IjEyIiwicG9ydHJhaXQiOiIxMCJ9" pp_check_color_a="#000000" f_pp_font_weight="600" pp_check_square="#000000" msg_composer="" pp_check_color="rgba(0,0,0,0.56)" msg_succ_radius="0" msg_err_radius="0" input_border="1" f_unsub_font_family="downtown-sans-serif-font_global" f_msg_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTIifQ==" f_input_font_size="eyJhbGwiOiIxNCIsInBvcnRyYWl0IjoiMTIifQ==" f_input_font_weight="500" f_msg_font_weight="500" f_unsub_font_weight="500"]

Latest stories

Latest News
How Dangote Raised Petrol Price To N955 From N899/litre For Bulk BuyersUS Court Jails 3 Nigerians Over $2m Fraud Scheme"This Is A Good Development For Nigeria," Says Tinubu As He Lauds Governors On Tax Reform BillsFresh Outage: Presidential Villa Affected As Vandals Steal Electricity Cables In AbujaParting Gift: Biden Sets Record, Grants Clemency To 2,500 PeopleHow Nigeria's Disporans $90bn Remittances Affected Country's Economic Growth - Abike Dabiri-ErewaLagos Assembly: Ousted Speaker, Obasa Absent As Meranda Presides Over First PlenaryBreaking! Fears Heighten As Wife Of Retired AIG Hakeem Odumosu Is Kidnapped In OgunList: Reactions As Wike Land Revocation Order Hits APC, PDP Bigwigs, Governors, Senators, Ministers, OthersIf you want to fend off wrinkles and saggy skin as you age, say goodbye to these 7 daily habitsDetails As Appeal court Upholds Abure as Labour Party National ChairmanTikTok’s CEO used to work for Mark Zuckerberg as a Facebook intern. Just one decade later, he’s become one of Meta’s fiercest competitorsFirst Bank Crisis: Uncertainty Over Oba Otudeko’s Whereabout, Debunks Charges As EFCC Closes in Over Alleged FraudTax Reform Bills: Why We Caved In to FG, We Were Initially Misled, By Gov Sule On Northern Govs' Volte-faceCanada ready to reveal initial retaliation plan Monday if Trump makes good on tariff threat: sources
X whatsapp