Practitioner seeks increased foreign agency equity stake in Nigerian Ad industry

Practitioner seeks increased foreign agency equity stake in Nigerian Ad industry
By Daniel Obi on July 28, 2015  

This article was culled from http://businessdayonline.com/2015/07/practitioner-seeks-increased-foreign-agency-equity-stake-in-nigerian-ad-industry/#.VbvVRPmYif4

The 2013 controversial APCON Reform that put hurdles on the path of foreign agencies to largely participate in Nigeria’s advertising business has been re-evaluated as the CEO of Noah’s Ark, Lanre Adisa suggested that the reform needs some re-consideration in line with current realities.

He specifically picked holes in the provision of the reform that stipulates only 25 percent shareholding for foreigners that want to play in the Nigeria’s advertising space.

Lanre who was discussing the future of advertising at the Association of Advertising Agencies of Nigeria, AAAN 42nd annual congress in Osogbo last weekend said the industry needs to "move from the 25 percent foreign stake to 49 percent where the majority of 51 percent is held by Nigerians”

Lanre’s comments is similar to earlier beliefs by some other stakeholders that some of the provisions in the reform are counter-productive as they believed that the clause that places the  level of restriction on the practice of advertising and marketing by foreigners in Nigeria is not well defined.

With strong belief that the reform which had a quiet period in its implementation due to the absence of APCON council for about 18 months, Lanre said the advertising industry needs to shift conversation from the fear of foreign invasion to foreign collaboration.

Believing that in spite of the good intentions of the reform, foreign agencies are playing in Nigeria in disguise, Lanre whose agency recently won the Airtel multimillion creative account said the review of the reform in line with his proposal would see to the injection of funds and new thinking in Nigeria’s advertising industry.  The review of the reform would also create a more competitive industry, provide grounds to train the next generation through exposure and confidence building and re-register Nigeria on the global map.

In his comment at the forum with the theme Nigerian Advertising: What Next, the chairman of APCON, Udeme Ufot said the reform was put in place in very good fate but after the introduction of the reform there was a lull in the activity of APCON  because of the absence of a legitimate council.

He said after the subsequent inauguration of the council, the body has set up committees with the view of strengthening the reform. He sought for industry collaboration for the full implementation of the reform as APCON cannot do it alone. "People should draw APCON’s attention to infringement on the rules and be specific to the allegation”

According to him, before the APCON reform was unveiled there was extensive consultation and this suggests that players should collaborate to protect and implement the reform.

Also speaking at the congress on the marketing of the future, Dele Anifowoshe, marketing director, Airtel said that clients are more than ever before recognsing the speed which consumers are evolving and therefore require agencies to keep pace, embrace digital marketing, redefine their value proposition and stay ahead.

According to him, clients are looking for partners who see the trend and follow it. This is important as the business environment is driving clients’ decision-making and defining relationship with its partners.

Kelechi Nwosu, the president of AAAN had always believed on pushing forward the APCON reforms and deepening the association’s relationship with government.

Kelechi, the CEO of TBWA/ Concepts Nigeria, whose vision for the association revolves around respect, value and professionalism believes that as the market becomes more dynamic, the association needs to be on a good stead to do more business with clients and government.
 
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1 Comment

Anaekwe

21 Dec 17, 07:35 AM
Nice article;


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