Nigeria: Govt To Cancel 60% Of Debt Owed By Licensed Radio And TV Stations
The Nigerian government is reported to have approved a debt forgiveness plan of up 60 per cent of what is owed to the National Broadcasting Commission of Nigeria by its licensed radio and television houses.
The Nigerian Minister of Information, Mr Lai Mohammed, said that the government is using this to assist struggling media houses in Nigeria are severely affected by the current coronavirus pandemic.
The minister also clarified on the who can access the government largesse by stating that Pay-TV companies in Nigeria will not qualify debt forgiveness under this scheme. He also said that for any TV or Radio organisation to take advantage of the government offer, they, in turn, must clear the reminder 40 per cent of their existing debt within the next three months.
Credit: contribution from nairametrics.com