FG Set To Restructure Advertising Industry

Alhaji Lai Muhammed, the Minister of Information and Culture, has revealed that the government has approved the implementation of reform initiatives of the Advertising Practitioners Council of Nigeria in order to strengthen the industry.

This is according to a statement by Muhammed in Epe, Lagos State, during the recently concluded 49th Annual General Meeting of the Association of Advertising Agencies of Nigeria.

“As many of you are aware, one of the bold and necessary steps we have taken in recent times is the approval of the ongoing reform initiatives of the Advertising Practitioners Council of Nigeria (APCON).

"The reform is aimed at strengthening the advertising ecosystem, encouraging inclusive growth and attracting investment to the industry,” he said.

In his paper, entitled, “The New World Order: Digital Transformation in Communication,’’ the Minister said advertising and brand marketing were prime examples of sectors where consumer data were critical, hence the need to leverage technology for direct engagement with the audiences.

"In a world rapidly changing in its dynamics of opportunity and risks, talking directly with consumers in a data-enabled environment has taken brands and entrepreneurs closer to their consumers more than ever before.

"The odds of success or solution to any challenge in this new world order is as high as our regard for the power of digital technology.

"And the entrepreneurial opportunities lying in wait at that crossroad between technology and the economy of sectors like advertising and brand communication is vast and you, as industry leaders, must continue to harness a variety of talents and competencies to take maximum advantage of the opportunities presented,” Mohammed said.

According to him, the realisation of the power of technology in brand communication necessitated the setting up of the Ministerial Task Team on Audience Measurement System to give a legal and constitutional framework for a national, systemic, accountable and data-driven understanding of the impact of communication on consumer behaviour.

Mohammed further revealed that the Federal Government is committed to exploring all the opportunities offered by social networking sites, such as Facebook, Twitter, Instagram, and WhatsApp for the benefit of the people, noting that some of the major tech giants had shown interest in investing and exploring business opportunities in the Nigerian digital space.