The Minister of Information and Culture, Alhaji Lai Mohammed, has saidย the new PayTV platform, TSTV, will enjoy a pioneer status with aย three-year tax relief.
The Minister announced this in Abujaย on Sundayย night when he unveiled TSTV.
“Dr. (Bright) Echefu (TSTV Managing Director), you have come at a veryย good time because this government only recently granted a pioneerย status to the Creative Industry and what this means is that you willย be entitled to a three-year tax relief and all your investors will notย pay any tax dividends,” he said.
Alhaji Mohammed said the unveiling of TSTV has totally redefined theย PayTV platform and, by extension, the TV industry, through theย provision of access to people in all segments of society to enjoy highย quality entertainment.
“What Dr. Echefu has done is to democratize the media andย entertainment industry and make it possible for all to have access toย the best entertainment in the world. Just like a Nigerian also madeย history by crashing the cost of telephony in Nigeria, I am glad thatย another Nigerian is now coming forward also to crash the price ofย PayTV,” he said.
The Minister said the advent of Digital Switch Over in broadcasting inย Nigeria has created a paradigm shift in the television industry, whereย compelling contents will now attract viewership.
He identified lack of objective audience measurement mechanism as aย key factor against investment in content production, but disclosedย that his ministry is planning a workshop to address the challenge.
Alhaji Mohammed said the Creative Industry played a critical role,ย along with other non-oil sector players, in pulling Nigeria’s economyย out of recession, and that the government plans to develop theย industry to contribute 5% to the GDP, as against its current contribution of 1.36% by 2020.
He commended Dr. Echefu for his courage of conviction and belief inย Nigeria and pledged the readiness of the Federal Government toย continue to create the conducive environment for private sectorย investments to thrive.
