Raheem Akingbolu reports that the marketing communications sub-sector of the economy has fared well under the Tinubu administration but faults the untimely removal of the former Executive Vice Chairman at Federal Competition and Consumer Protection Commission, Babatunde Irukera, who was believed to be protecting the interest of Nigerian consumers For decades, the advertising business in Nigeria was at the mercy of a few multinational companies. Over the years, the federal government has intensified campaigns on promotion of local content and backward integration across board but the trends and practices in the marketing communication industry were in the contrary. Among other infringements; commercials that could be shot in Lagos, Port Harcourt or Abuja were shot abroad, foreign talents’ recruitment went on unabated.
To correct some of these abnormalities, including acceptable payment terms to all the parties, the federal government through the current leadership of the Advertising Regulatory Council of Nigeria (ARCON) had two years ago embarked on the current industry reform, not only to sanitise the industry but to also deepen the industry’s regulatory framework. The reform began with the appointment of Dr. Lekan Fadolapo as ARCON Director General, especially as related to engagement and disengagement procedures outlined in the Advertising Industry Standard of Practice (AISOP).
Local Content For instance, ARCON had in 2023, issued a new directive that advertisers must u.
