New pay Television operator, TStv Africa, has been granted three-year tax relief by the federal government.
The newly inaugurated television was also granted tax free dividends to all investors in the company.
The Minister of Information and Culture, Alhaji Lai Mohammed, announced incentives on Sunday night in Abuja at a dinner to mark the official unveiling of the new company.
TStv Africa is a wholly owned by Nigerian Pay TV operator with refined offerings of novel Unclassified Pay Per View subscription and complimentary internet services.
Mohammed who performed the official unveiling of the new company and its products said the tax reliefs were in line with the Pioneer Status recently granted
to the Creative Industry by the Government.
The Minister congratulated the Chief Executive Officer (CEO) of the company, Dr. Bright Echefu and his team for liberalising and breaking the monopoly of Pay TV in the country.
“The important thing about what Echefu has done today is that he has redefined the pay per view television industry and from today, that industry will never remain the same again.
“What he has done is to democratise the media and entertainment industry and make it possible for even a peasant farmer to have access to the best entertainment and news in the world.
“It is a great opportunity for me to be the one to unveil TStv because just like a Nigerian made history by crashing the cost of telephony in Nigeria, I am glad that another Nigerian is now coming forward to crash the cost of Pay TV,” he said.