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FG Offers Radio, TV Stations Forgiveness on N7.8bn Debt

Published

5 years ago

July 6, 2020

As part of palliative measures against Pandemic COVID-19, the Federal Government has offered 60 percent debt forgiveness to defaulting radio and TV stations.

The affected stations are indebted to the Federal Government to the tune of N7.8billion.All the stations have a three-month timeline to enjoy the debt reprieve.

The Minister of Information and Culture, Alh. Lai Mohammed made the announcement at a briefing in Abuja in the company of the Director-General of the National Broadcasting Commission, Prof. Armstrong Idachaba.

Mohammed said: “According to the National Commission (NBC), many
Nigerian radio and television stations remain indebted to the Federal Government to the tune of N7.8billion Naira in total.

“Also, many of the stations are faced with the reality that their licenses will not be renewed, in view of their indebtedness.

“Against this background, the management of the NBC has therefore recommended, and the Federal Government has accepted, the following measures to revamp the Broadcast Industry and to help reposition it
for the challenges of business, post-COVID-19:-

“60 percent debt forgiveness for all debtor broadcast stations in the country.

“The criterion for enjoying the debt forgiveness is for debtor stations to pay 40 percent of their existing debt within the next three months

Any station that is unable to pay the balance of 40 percent indebtedness within the 3 months window shall forfeit the opportunity to enjoy the stated debt forgiveness.”

On palliatives for the print media, the Minister said “we are already discussing with the Newspapers Proprietors Association of Nigeria (NPAN)

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Featured

CSO Salutes Trump

Published

2 weeks ago

January 20, 2025

The Gleamer

A Civil Society Organization (CSO) under the aegis of Initiative for Leadership Development and Change (ILDC) has congratulated President Donald Trump as the 47th President of the United States of America.

Chief Ugochukwu Nnam, President of the CSO said this in an interview with the Newsmen in Abuja on Monday.

He expressed optimism over improvement on not just American economy but global economy with the inauguration of Trump.

“This is a man with greater vision of making environment around him great.

“In less than few hours of his inauguration, TikTok is back into existence, this shows how he is going to revive the world economy,” he said.

The ILDC boss who reiterated his confidence in Trump’s Presidency, described him as a man of clues and ideas to drive a stable America and the world at large.

He lauded Trump’s collaboration with global entrepreneurs like Elon Musk in an effort to revitalize America’s economy.

According to him, men and women of ideas flock together, they work together for better society and this is what Trump is doing.

Recall that Donald Trump became the 47th President of the U.S by polling 312 electoral votes Vice President Kamala Harris’ 226 votes in Nov, 2024.

Following the oath of office, Trump will address the nation before he is expected to parade across town to the White House and attend three inaugural balls in the evening

About 200,000 supporters are expected to visit the city to mark the presidential transfer of power.

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