Information minister declares tax holiday for new payTV

By Ibrahim Ramalan Abuja—

Th e Minister of Information and Culture, Alhaji Lai Mohammed, has said the new PayTV platform (TSTV) would enjoy a pioneer status with a three-year tax relief. Th e minister, announced this in Abuja while unveiling TSTV platform, noting that its Managing Director, Dr. (Bright) Echefu, had come at a very good time because this government only recently granted a pioneer status to the creative industry.

“What this means is that you will be entitled to a three-year tax relief and all your investors will not pay any tax dividends,” he said. Mohammed said the unveiling of TSTV had totally redefi ned the PayTV platform and, by extension, the TV industry, through the provision of access to people in all segments of society to enjoy high quality entertainment.

“What Dr. Echefu has done is to democratise the media and entertainment industry and make it possible for all to have access to the best entertainment in the world. Just like a Nigerian also made history by crashing the cost of telephony in Nigeria, I am glad that another Nigerian is now coming forward also to crash the price of PayTV,” he said. Th e minister said the advent of digital switch over in broadcasting in Nigeria has created a paradigm shift in the television industry, where compelling contents will now attract viewership.

He identifi ed lack of objective audience measurement mechanism as a key factor against investment in content production, but disclosed that his ministry is planning a workshop to address the challenge. Mohammed said the creative industry played a critical role, along with other non-oil sector players, in pulling Nigeria’s economy out of recession, and that the government plans to develop the industry to contribute 5 per cent to the GDP, as against its current contribution of 1.36 per cent by 2020. He commended Echefu for his courage of conviction and belief in Nigeria and pledged the readiness of the federal government to continue to create the conducive environment for private sector investments to thrive.

 

 

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