In an effort to ensure financial stability in the broadcast industry in the country amid the impact of the Covid-19 pandemic, the Federal Government of Nigeria, has announced a reduction of licensing fees for broadcast stations by 40 percent and a debt cancellation of 60 percent.
Minister for Information, Lai Mohammed who disclosed this in a statement said the new order will take effect July 10, 2020. He noted that the move was part of the measures by the FG to cushion the effect of the COVID-19 on Nigerians.
He said, despite the fact that monies owned the Federal Government by broadcast stations amounts to the tune of N7.8 billion, any of the stations that pays the outstanding 40% of their license fees within the next 3 months is entitled to the offer.
The federal government is doing everything within its powers to ease the effect of the lockdown it had earlier imposed on the country.
