Lai Mohammed, minister of information, says the Nigeria Television Authority (NTA) will compete with the likes of Cable News Network (CNN), if the $500 million loan his ministry is seeking is approved.
The minister said this when he appeared before the senate committee on local and foreign loans, Guardian reports.
The $500 million is part of the $30 billion loan President Muhammadu Buhari is asking the national assembly to approve.
“If this project is approved, there will be more visibility for our people in the music, fashion and film industries,” he said.
“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 digitise all the NTA stations in the country.”