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Federal Government Thursday tactically put a stop to the endless capital flight mainly into South Africa and other economies for production of video advertisements targeting Nigerian TV audience.
The notification is contained in an official directive handed down to the National Broadcasting Commission (NBC) by the Minister of Information and Culture, Alhaji Lai Mohammed.
The directive contained in a statement issued by the minister’s media aide, Segun Adeyemi, said the move stemmed from the submission of the report of the committee set up to work out the modalities for implementing the recommendations approved by the President, Major-General Muhammadu Buhari.
Whereas the directive covers provision for the regulation of hate speech, among others, the Minister averred that “Following my satisfaction with the report which was very professional and detailed, I wish to direct the Commission to take the necessary measures to effect the implementation of the various provisions therein.
“This directive covers the provision for the regulation of the web and online TV/radio; regulation of international broadcasters beaming signals into Nigeria; hate speech; human resource and staff welfare; funding for the reforms implementation; monitoring; Independence of the Regulator and ease of issuing Licenses as well as competition and monopoly issues.
“This regulation prevents the misuse of monopoly or market power or anti-competitive and unfair practices by a foreign or local broadcaster to suppress other local broadcaster in the television and radio markets, having removed exclusivity from all content in Nigeria and mandated the sharing of all content upon the payment of commercially viable fees.”
Federal Government further clarified that the new broadcast regulations will compel broadcasters to utilize the content and services of Nigerian independent producers, “in fulfillment of the regulatory requirements for 70 percent local content.”
According to him, the 70 percent local content for advertisers will empower local producers with proper funding and investment, enhance foreign collaborations, develop the local industry, raise the standard of local productions and ultimately lead to job creation.
He said “The new regulations will also ensure that producers of content are paid promptly for adverts and sponsored content placed on all TV, radio and broadcast platforms.”
Mohammed added that “The implementation of the directive will ensure that the production of adverts is localized to create and promote local production,” stressing that “The new regulation will ensure that broadcasters earn the right royalty to their works going forward in Nigeria.”
Efforts to get reactions from the NBC on how the implementation will be at press time failed.
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