Nigeria govt approves bailout for Broadcast stations

Nigeria govt approves bailout for Broadcast stations

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The Nigerian Government has announced a 60 per cent debt cancellation and 40 per cent discount on licencing fees for all broadcast stations operating in the Country effective July 10, 2020.

The measures which is part of moves to inject financial stability in the broadcast industry in the wake of the impact of the Covid-19 pandemic, however exempted Pay Tv Platforms in the Country.

Minister of Information and Culture, Lai Mohammed who made the announcement on Monday, stated that money owned Federal Government by broadcast stations amounts to the tune of N7.8 billion.

All functional broadcast stations are entitled to the debt cancellation as long as they pay the outstanding 40 per cent of their license fees within the next three months.

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