Minister of Information, Lai Mohammed, has said that the Nigerian Television Authority (NTA) can compete with the likes of Cable News Network (CNN) if his ministry got the $500 million loan request approved.
Mohammed made this known when appeared before the Senate Committee on Local and Foreign loans on Monday.
According to the minister, NTA can only compete with international media unless the station is digitised and seen all over the world.
Mohammed added that the money requested 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 2020 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.”