A Kano-based businessman and investor, Ambassador Aminu Nuruddeen Amin, has advised entrepreneurs and prospective investors to exercise caution before committing funds to the Federal Government’s relaunched FreeTV initiative, citing his experience of investing over N100 million in the project without recovering his capital.
Amin, who signed a statement issued on Thursday in Kano, described himself as one of the investors trained under the FreeTV programme and said he felt compelled to share his experience to help others make informed investment decisions.
The businessman recalled that in 2019, the Federal Government, through the National Broadcasting Commission (NBC), in collaboration with the Kano State Government and Gospel Digital Technology, trained more than 440 people in Kano State on FreeTV operations and the digital television broadcasting system.
According to him, only a handful of the trainees pursued the venture seriously, and he was among those who committed substantial resources based on the projections and assurances presented during the programme.
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Amin said he invested more than N100 million in developing and promoting the business, believing the initiative would create viable opportunities in Nigeria’s digital broadcasting sector.
He noted that during the launch of the programme, the then Director-General of the NBC, Balarabe Shehu Ilelah, announced that more than 30 television channels would be available on the FreeTV platform.
“Regrettably, to date, the number of functional channels available has fallen significantly short of those expectations,” Amin said.
The investor also expressed concern over the recent relaunch of the programme by the Federal Government in Abuja, where authorities reportedly assured stakeholders that more than 100 channels would be available on the platform.
“Based on our observations and assessment at present, the number of accessible channels remains well below that figure and has not reached 30 channels,” he stated.
Amin urged prospective investors to conduct thorough due diligence before committing resources to the sector, stressing the importance of carefully assessing the viability of any business opportunity.
He clarified that his comments were not intended to discourage technological advancement or digital broadcasting initiatives but rather to draw attention to the need for transparency, accountability and the fulfillment of commitments made to stakeholders.
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“This statement is not intended to discourage technological advancement or digital broadcasting initiatives. Rather, it is aimed at emphasizing the importance of transparency, accountability, and the fulfillment of commitments made to stakeholders and investors,” he said.
Reflecting on his personal experience, Amin disclosed that several years after investing in the business, he was still struggling to recover his initial capital and had yet to realise any meaningful return on investment.
“It is therefore my responsibility to share this experience so that others considering similar investments can make informed decisions based on careful evaluation and realistic expectations,” he added.
Despite his concerns, Amin expressed optimism that the relevant authorities would address the challenges facing the initiative and take steps to strengthen the credibility and sustainability of the FreeTV project for the benefit of investors, operators and the Nigerian public.
