NTA, Startimes joint venture yielded no profit in 11 years – Yakubu, DG

NTA, Startimes joint venture yielded no profit in 11 years – Yakubu, DG

Director-General of Nigeria Television Authority, NTA, Mallam Mohammed Ibn Yakubu on Monday gave shocking revelations on its partnership with Startimes.

The NTA boss disclosed that the joint venture partnership which saw Startimes transmitting through its facilities has not yielded profits for the past eleven years.

The DG made this revelation when he appeared before the Joint Senate Committee on MTEF, saying that the NTA could not remit revenue from that arrangement into the Federation Account.

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Reacting, the Committee queried the unprofitable business relationship between the Nigerian Television Authority and the Chinese PayTv Startimes calling for a review of its terms of engagement.

Chairman of the Committee, Senator Solomon Adeola Olamilekan lamented that Nigeria has allowed itself to be treated in a manner that appears as “if there are no laws governing the nation, insisting that the pact must be reviewed.”

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The Senate became more concerned that the Nigerian government spends a huge sum of N10 billion on NTA yearly without contributing revenue to service the nation’s deficit.

Co-Chairman, Senator Ayo Akinyelure expressing his disappointment asked the NTA DG to conduct a review or the parliament would step in.

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