According to Lai Mohammed, Nigeria’s Minister of Information, NTA will be able to compete with CNN if the $500 million loan that his ministry is seeking is approved. The Minister made this statement during his appearance before the senate committee on local and foreign loans to emphasize the importance of the $500 million as part of the $30 billion loan President Buhari is requesting the national assembly to approve.
Mohammed emphasized that the approval of the fund would enable the upgrade of NTA to transmit signals equivalent to CNN. He also highlighted Nigeria’s potential to achieve this milestone with its manpower. Additionally, he mentioned that if the project is approved, it would result in increased visibility for Nigeria’s music, fashion, and film industries. The Minister illustrated the growth potential, citing statistics on revenue generated from the music industry in recent years and emphasized the benefits of digitizing all NTA stations in the country.
Furthermore, Mohammed stressed the significance of the creative industry as a major employer of the youth and discussed the migration from analogue to digital as a requirement set by the International Telecommunication Union. He acknowledged the challenges in meeting the deadlines for migration and emphasized the importance of achieving the target for the benefit of the creative industry.