The Minister of Information and culture, Lai Mohammed says the federal government is set to make a major shakeup to upgrade the National Television Authority to a standard that it would afford it the ability to compete with the Cable News Network (CNN).
The minister said this would be made possible if the $500 million which is part of the $29.96b loan requested by President Muhammadu Buhari is approved, The Guardian reports.
Min. Lai Mohammed said this can be made possible going by the manpower and technological level in the country. He put forward this position to the Senate committee on local and foreign loans.
He said that the project will afford those in the music, fashion and film industries the needed visibility and growth.
The minister said that $245m of the fund will be used to upgrade the media and culture industry and that $11m will be used in funding projects targeted at digitalising all NTA stations.