Lai Mohammed, Nigeria’s Minister of Information, reportedly said that the Nigeria Television Authority (NTA) will rival and overshadow the likes of Cable News Network (CNN) if the $500 million loan his ministry is seeking for is approved.


The Minister said this during his meeting with the senate committee on local and foreign loans to speak on the significance of the $500 million which is part of the $30 billion loans President Buhari is asking the national assembly to approve.


The Minister further 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, adding that Nigeria has the manpower to achieve this plan.


“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.” he said


The minister also said the creative industry is a major employer of the youth.

“Apart from agriculture, which is the largest employer of labor in Nigeria, especially the youths, the next largest employer of labor is the creative industry,” he said.

“The International Telecommunication Union (ITU) in 2006 gave June 17, 2015, as a deadline for all members of the organization to migrate from analog 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,” he said

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