Media Concept and KAON media have signed an agreement worth over $1billion in Nigeria to manufacture setTop Boxes in Nigeria.

Speaking at the the signing ceremony yesterday in Lagos, the managing director, Media concept, Mr. Babatope Agbeyo, said that over 1 billion dollar is set to be invested into the project to provide Nigerians with quality set Top boxes and provide employment to teeming Nigerian populace.

Agbeyo said that the project is set to employ over One thousand Nigerians when it takes off with a guarantee of superior product as it looked for the best set top manufacturer around the world and KOAN came as one of the top three which necessitated the agreement to build the factory, transfer technology and teaming to grow technology.

He said it is a massive project which is going to change things because the country is moving from a technology to another technology.

He however praised the National broadcasting commission for a transparent bidding which is set to grow the broadcasting industry.

Commenting, the director general of the National Broadcasting Commission, NBC, Mr. Emeka Mba, said the signing ceremony between the two firms is a significant step towards the digital migration and a testimony of modern progressive country.

Mba noted that MCI was the first firm to pay the authorization fee of 50 million naira when people doubted the success of the process adding that the step is not about set top boxes but transfering technology and innovation in the industry and provide employment and growth in the economy.

Nigeria with 26 million TV users, the significance of the process is the value it is adding as a national project because of its changing of technology.

He said that 13 firms were licensed as settop box provider in the country which must meet the NBC/ECOWAs standard for the consumers to get best values.

Mba explained that a budget has been dedicated to manage e-waste and analogue transmitters are to be dismantled and disposed off when the country finally switchover to Digital.