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Tinubu orders single-digit interest loans for media organizations

President Bola Tinubu has directed the Federal Ministry of Industry, Trade, and Investment to provide single-digit interest loans to media organizations through the Bank of Industry.

This directive was revealed by the Minister of Information and National Orientation, Mohammed Idris, during sectoral press briefings held to mark the first anniversary of President Tinubu’s administration.

The government reiterated its commitment to fostering a supportive environment for the media and information sectors.

Last week, Idris announced that there would be no official ceremony to mark President Tinubu’s first year in office. Instead, ministers would hold sectoral briefings to account for their stewardship.

Speaking on Monday, Idris underscored the administration’s dedication to transparency and accountability, core principles of the Renewed Hope Agenda.

“We are creating an enabling environment for all players and stakeholders in the media and information ecosystem to thrive,” he stated.

A key highlight is President Tinubu’s directive for the Ministry of Industry, Trade, and Investment to extend single-digit interest-rate financing to media organizations via the Bank of Industry.

Idris encouraged media practitioners to develop bankable proposals to access this financing facility, emphasizing the government’s support for the media sector.

The minister urged media professionals to seize this opportunity, reinforcing the government’s commitment to rebuilding public trust in communication and effectively promoting its policies and programs.

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