The Federal Government has decided to write off 60 per cent of the N7bn owed by radio and television stations in licensing and renewal fees.
The government has also slashed the existing licence fee by 30 per cent for all open terrestrial radio and television services with effect from July 10.
Mohammed however said for any debtor station to benefit from the 60 per cent debt relief, it must be ready to pay the 40 per cent balance within the next three months.The minister said the measures announced were aimed at giving a lifeline to the broadcast industry, which, he said, had been affected by the COVID-19 pandemic.
He however said Pay TV stations would not benefit from the debt relief and discounted licence fee offer. “Against this background, the management of the NBC has therefore recommended, and the Federal Government has accepted, the following measures to revamp the broadcast industry and to help reposition it for the challenges of business, post-COVID-19:
“ The debt forgiveness shall apply to functional licensed terrestrial radio and television stations only. The debt forgiveness and discount shall not apply to pay TV service operators in Nigeria.”
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