According to NAN, Benedict Oramah, Afreximbank president, disclosed this in Cairo, Egypt, when Lai Mohammed, minister of Information and Culture, led a team of DSO stakeholders on bilateral discussions on the project.as part of the digital switchover in Lagos. The initiative was to enable millions of Nigerians who cannot afford the subscriptions of Pay-TV platforms to enjoy digital television with good content from 60 channels.
“What we are looking out to do is to work with all the stakeholders, particularly the private sector, to put a financing mechanism in place to ensure that Nigeria saves more than $400 million of subsidy that would have been applied.“When we are able to do this before the end of the year, the Nigerian government will benefit because we are going to free the spectrum that will be now sold for about two billion dollars to telecommunication companies.
On his part, Mohammed noted that the creative industry is key in the diversification of Nigeria’s economy because, after agriculture, it employs a larger number of people, mostly women and the young population. “When the programme started, government subsidised the STB, which was bought from the manufacturers for $30 per box and sold to consumers at $10 per box,” he said.
“For instance, we have already amended the Broadcasting Code to protect local manufacturers, advertisers, and channel owners.”
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