Advertising regulators in the country have been advised to ensure that their role is to empower and engage businesses in the sector and not to stifle the industry.
This was stated by participants at the Advertisers Association of Nigeria, (ADVAN) Industry Dialogue with the theme: Public/Private Collaboration in the Marketing Industry, The Path to Economic Viability held at the weekend in Lagos.
Speaking on behalf of participants, the moderator of the panel, Prof. Bolajoko Dixon-Ogbeche of the Department of Business Administration, University of Lagos also urged regulators to empower industries and not to stifle creativity and businesses in the course of doing their job.
The panel also identified the role of regulators to include consumer protection, adding that advertising must follow the rules which include to be truthful, decent because the industry is a regulated one and that practitioners need to understand the laws and regulations.
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The Advertisers were urged to do more because they are affected by the industry regulations.
“We need to create a kind of platform where industry practitioners can actually drop new things so that while we are discussing with the other side either the regulators or other sectorial bodies then we will have a robust data where we can pull out from,” Prof Banjoko said.
He also explained that ADVAN should do more by creating a platform where CEOs and COOs can be engaged to help the association understand the challenges and what to do,” the moderator stated.
Welcoming guests to the event, the President, ADVAN, Mr. Osamede Uwubanmwen called for more dialogue within the industry adding that this will help its growth.
“For me it is simple, we need to keep on talking and it is important the regulators understand what they are doing and explain to us what it is all about, he said.
“We need to keep the conversation going and people need to understand that our dialogue are intended for conversation. Regulation is good but should not be done in such a way that people will not understand or its one sided,” he added.
He further explained that: “They say we have regulators in other countries but I will say no one in the world has what we have in Nigeria. Yes, Nigeria can be a peculiar case but don’t preach to me as if you are taking a cue from other people. Let us have facts on the table.
The Minister of Information and National Orientation, Mohammed Idris in his remarks said that the theme of the event underscores the crucial role of collaboration in driving innovation, growth, and sustainability within the industry.
The Minister who was represented by the Director General of Advertising Regulatory Council of Nigeria (ARCON), Dr. Olalekan Fadolapo commended ADVAN for its sustained advocacy and engagements with critical stakeholders towards the advancement of the interest of the advertising industry in Nigeria since its formation in 1992.
“This dialogue is one of the initiatives you have made to develop the industry,” he said.
“I am aware of the pivotal role that the advertising industry plays in shaping perceptions, driving consumer behavior, and ultimately contributing to the economic development of our nation. In a rapidly evolving global landscape, characterized by technological advancements, changing consumer preferences, and competitive pressures, the need for collaboration between the public and private sectors has never been more pressing, he further said.
He added that Public-private collaboration holds the key to unlocking new opportunities, overcoming challenges, and driving collective progress. This can be achieved by harnessing the complementary strengths, resources, and expertise of both the public and the private sectors.
“I am pleased to note that the Nigeria advertising industry has already demonstrated remarkable resilience, creativity, and adaptability towards Public Private Partnerships. However, there is still much more we can achieve through strategic collaboration either in the development of industry standards, the promotion of ethical practices, or the implementation of collaborative marketing campaigns.
“From the public sector, we must create a conducive environment for both local and multinational companies to thrive and provide platforms for innovation, investment, and job creation within the advertising industry, he explained.
“For almost one year since he assumed office, President Bola Ahmed Tinubu has remained resolute in his commitment to implementing necessary reforms that will propel our economy to greatness,” he added.
The Minister however called on ADVAN to embrace the reforms being implemented in the industry by ARCON, which are mainly aimed at aligning the conduct in the industry to global best practices.
“I urge all stakeholders within the advertising industry to seize the opportunity before us and commit to fostering a culture of collaboration and partnership.
“Let us work together to identify common goals, explore innovative solutions, and forge mutually beneficial relationships that will propel our industry and our nation toward greater economic viability and prosperity,” he said.
The keynote speaker, Prof. Olufemi Saibu of the University of Lagos, who spoke on the theme of the event unveiled the multifaceted implications of regulation on Nigeria’s advertising dynamics.
He explained that strategically formulated regulation performs a critical role in ensuring the credibility and long-term viability of the advertising industry. It ensures adherence to industry standards, accountability, and transparency within a structured framework. Also, it cultivates consumer confidence by establishing a sense of trust in the products and services being advertised.
Prof. Saibu however said while well-intentioned, overly restrictive regulations can stifle creativity, impede innovation, and hinder the industry’s growth potential, it is necessary to address the gap between regulatory supervision and industry autonomy in order to create an environment that is friendly to advertising excellence in Nigeria.
He added that the route to thriving and sustainable advertising scene in Nigeria demands a paradigm shift: from viewing regulation as a barrier to positive change to embracing it as a catalyst.
“By encouraging collaborative collaborations, we can negotiate regulatory difficulties, realize the full potential of the advertising sector, and pave the path for a brighter future.
Let us embark on this transformative journey together, guided by a common goal of improving Nigeria’s advertising industry for the benefit of all stakeholders,” he said.
In his goodwill message, the Managing Director, Lagos State Signage and Advertisement Agency, Fatiu Akiolu Commended the organisers, stating that LASAA recognises the role of the Integrated Marketing Communication sector in shaping perceptions and driving positive contribution to the broader socio-economic practice of the nation.
“I am confident that today’s dialogue will indeed bring valuable insight, inspire innovative solutions and of course foster enduring partnerships. Let us cease this opportunity to chart a course towards a brighter future for the industry.
LASAA MD said there is the need for stronger collaboration between the regulators and the regulated in order to achieve positive results at both ends.
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