TStv Africa, a new pay Television operator, has been granted three-year tax relief by the federal government of Nigeria.
The newly inaugurated television was also granted tax free dividends to all investors in the company, Minister of Information and Culture, Alhaji Lai Mohammed, announced the 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.
News Agency of Nigeria quoted Mr. Mohammed who performed the official unveiling of the new company and its products as saying that the tax reliefs were in line with the Pioneer Status recently granted to the Creative Industry by the Government.
“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.
The Minister commended the courage of the Chief Executive Officer (CEO) Dr. Bright Echefu for coming from the Diaspora to invest in his country and for believing in the government’s seriousness about diversifying the economy.
He congratulated Echefu and his team for liberalising and breaking the monopoly of Pay TV in the country.
He said the company had also demonstrated that government alone could not do all things but needed the participation and synergy of the private sector.
“I want to assure that this administration will continue to assist you and other investors in creating the enabling environment for businesses to grow, ” Lai Muhammed said.
TStv is to liberalise PayTV in Nigeria- Echefu
Meanwhile TStv founder Echefu has said that TStv Africa was birth to liberalise PayTV in the Nigeria in order to make it affordable to every Nigerian with added values.
He said for the first time, Nigerians could now enjoy Pay Per View because with TStv, “subscription runs as you watch and It has the facility to pause your subscription when you travel”.
Echefu said that TStv for a start has 70 premium channels model with the cheapest pay-TV in Africa with maximum subscription fee of N3000.
He said as a fully Nigerian brand with consideration for the masses, TStv is not classified and it has a model that accommodate subscription as low as N200 as N500 for a period of time.
The CEO said TStv came with PVR (Personal Video Recorder) Decoder which allowed viewers greater control over their viewing experience with functions like pause, rewind, forward, save and record of programmes of interest.
Echefu said that once you subscribe to TStv, you will also get complimentary internet service, enabled Wi-Fi, as well as video calls and video conferencing services.
“It has an array of amazing TV channels with premium entertainment, educative programs that cut across all genres.
“The genres included, News, Music, General entertainment, documentary, movies, religious, sports, health, kids, fashion and lifestyle that better define the uniqueness of Nigeria’s diverse culture and traditional values,” he said.
The CEO said TStv which was modelled for Nigerians had come to stay assuring that it would not fail and they would deliver on their promises.