SPEECH BY THE MINISTER OF INFORMATION AND NATIONAL ORIENTATION, MOHAMMED IDRIS, FNIPR AT THE 2024 NATIONAL ADVERTISING CONFERENCE HELD ON THURSDAY 14TH NOVEMBER, 2024 IN ABUJA
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| L-R: President, Nigerian Institute of Public Relations, Dr. Ike Neliaku; Director General Voice of Nigeria, Mallam Jibrin Baba-Ndace; Director General of the Advertising Regulatory Council of Nigeria, Dr. Olalekan Fadolapo; Director General, National Orientation Agency, Mr. Lanre Issa-Onilu and the Acting Permanent Secretary, Federal Ministry of Information and National Orientation, Mrs. Comfort Ajiboye at the 2024 National Advertising Conference in Abuja on Thursday |
Protocol:
It is a great privilege for me to address this year’s National Advertising Conference - a gathering that brings together the very best minds and most innovative players in the Nigerian advertising landscape. The theme for this year’s conference, “Navigating the Shifts: Technology, Culture and New Business Models,” could not be more timely or relevant.
Advertising has long been a driver of economic growth, a connector of brands and people, and a storyteller for our society's aspirations. According to Pricewaterhouse Coopers (PWC), the advertising industry will be valued at N605 billion in 2023. The leading auditing firm also established that for every N1 spent on advertising, there is a multiplier effect of N16.5.
As we meet here in 2024, the industry is evolving unprecedentedly. Technology, the rise of new business models, and shifts in cultural norms are reshaping how we engage, persuade, and inspire audiences. This new era of advertising calls for adaptability, creativity, and a clear-eyed view of the opportunities and challenges that lie ahead.
Firstly, let’s acknowledge the profound impact of technology on our industry. Digitalization has revolutionized advertising, allowing for personalization, real-time engagement, and greater accountability through analytics. Social media, artificial intelligence, and big data have created channels for brands to reach audiences in more meaningful and relevant ways than ever before.
The introduction of a scientific-based audience measurement system is also a transformative development for Nigeria’s advertising industry. Accurate and reliable data on audience engagement and demographics is essential for advertisers, broadcasters, and marketers to effectively reach their target audiences and optimize their campaigns.
However, as we navigate this technological landscape, we must remain vigilant about issues like data privacy, cybersecurity, and the spread of misinformation and fake news. Technology is a powerful tool, but one that requires ethical responsibility. As a government, we are committed to promoting policies that protect both consumers and businesses, thereby ensuring a digital ecosystem that promotes trust, transparency, and accountability.
Advertising reflects and, in many ways, shapes culture. As our society becomes increasingly interconnected and diverse, advertisers face the challenge of creating messages that resonate across a broad spectrum of demographics, languages, and values.
Today’s Nigerian audience is young, dynamic, and incredibly discerning. They demand representation, authenticity, and social responsibility from the brands they choose to support. This calls for a new level of sensitivity and awareness in advertising. Our industry must embrace these shifts, celebrating our culture in all its diversity while setting standards for responsible communication.
We must also recognize the growing impact of local content in shaping our national narrative. At the Ministry of Information and National Orientation, we are dedicated to fostering an environment where Nigerian creatives and content producers can thrive, strengthening our cultural identity and enabling the stories of Nigeria to reach global audiences. I urge advertisers to be mindful of this and to be advocates for our rich cultural heritage as they develop their campaigns.
The shifts in technology and culture are accompanied by the emergence of new business models. In an era where consumers have greater power and control, advertising must evolve to be more collaborative, transparent, and value-driven. We are witnessing the rise of influencer marketing, subscription models, and direct-to-consumer brands that prioritize authentic engagement over traditional promotional tactics.
To remain competitive, advertising agencies and media companies need to be agile and open to experimentation. This means embracing partnerships, investing in continuous learning, and adapting strategies to stay relevant in a changing marketplace. The government, for our part, is committed to supporting a regulatory framework that encourages innovation, protects intellectual property, and provides an enabling environment for all players in this sector.
As we stand at the intersection of these shifts, the government’s role is clear. We must work in partnership with industry stakeholders to create policies that support innovation, safeguard consumer interests, and encourage the growth of a robust advertising sector that contributes meaningfully to our national economy.
The Advertising Regulatory Council of Nigeria (ARCON), National Broadcasting Commission (NBC), and other regulatory bodies have been actively engaged in setting standards that ensure fairness, transparency, and ethical practices in the industry. These policies are designed not to stifle creativity but to provide a framework where businesses can innovate responsibly.
We are also actively promoting initiatives that encourage local content development, skill acquisition, and digital literacy within the advertising and creative industries. By building capacity and fostering an ecosystem where talent can flourish, we aim to position Nigeria as a leading hub for advertising and media in Africa and beyond.
On the economy, the Tinubu administration has introduced crucial reforms aimed at improving the business environment, fostering innovation, and creating opportunities for industries to thrive. These reforms represent a vital step forward for Nigeria, and they seek to address challenges in infrastructure, financial inclusion, regulatory transparency, and economic diversification.
I am pleased to inform you that through these reforms, we are witnessing the gradual recovery of our economy on the most important foundational level. Today, our debt service to revenue ratio has come down drastically from almost 100% to about 65%.
Similarly, the revenues accruing to the three tiers of Government: Federal, State, and Local Government have grown exponentially due to the removal of fuel subsidies, with more funds going into the provision of social services and investment as well as the provision of infrastructure and social security.
The local government autonomy granted by the Supreme Court based on the suit filed by the Federal Government was aimed at strengthening the governance structure at the local level as well as promoting grassroots development.
A new minimum wage of N70,000 has taken off across all federal government establishments, with many of the state governments committing to implementing the same. Over 46,000 students are benefiting from the Nigerian Education Loan Fund across 59 tertiary institutions with a disbursement of over N5 billion. The first batch of 500,000 civil servants is set to become beneficiaries of the Consumer Credit Scheme with the release of N100 billion.
The launch of the Presidential Initiative on CNG is also a deliberate strategy to harness our abundant gas resources to bring down the high cost of transportation by about 60% and also foster a clean and healthy environment for our citizens. This initiative has unlocked close to $200 million in private-sector investments in the last year.
There are several more landmark initiatives like this, all aimed at bringing economic relief to the Nigerian people and fueling a chapter of industrialization and prosperity, the likes of which we have never seen before. There is the Presidential Loans and Grants Scheme, the Consumer Credit Corporation Initiative, the Renewed Hope Housing and Estates Initiative, the Renewed Hope Infrastructure Development Fund, and the Presidential Unlocking Health Value Chains Initiative, among many others.
Indeed, President Tinubu’s policies are designed to deliver sustained results in the lives and livelihoods of tens of millions of expectant Nigerians.
Our administration has also prioritized the development of roads, railways, and the upgrading of our ports to unlock economic opportunities across all regions of the country. These infrastructure projects will not only create immediate jobs but will also lower the cost of doing business, enhancing Nigeria’s attractiveness as an investment destination.
For example, the construction of the Lagos-Calabar Coastal Highway is progressing steadily while the groundbreaking of the Sokoto-Badagry Highway was performed recently in Sokoto. Of the 330 bridges and roads earmarked for repairs in 2023, over 85 percent have been completed, and new ones are in the pipeline.
I am therefore, appealing to you to support and promote the reforms being implemented by the President, using their platforms to amplify the administration’s vision for a more prosperous and stable Nigeria. Through creative and strategic messaging, advertisers have the power to not only reach audiences but to inspire confidence in the progress being made.
Your support for these reforms will also enable a more conducive environment for the advertising sector, bringing greater transparency and encouraging more investments in media and communication. By aligning with this vision, advertisers will be contributing to a vibrant ecosystem that benefits both the industry and the country.
In conclusion, let us use this conference as an opportunity to share ideas, build partnerships, and lay the foundation for a resilient and forward-looking advertising industry. Together, we can ensure that Nigeria remains at the forefront of this evolving landscape, a beacon of creativity, cultural richness, and technological progress.
I thank you for your kind attention.
Mohammed Idris
Minister of Information and National Orientation.
November 14, 2024
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