The Advertising Regulatory Council of Nigeria (ARCON) Mandates Local Commercial Production
ARCON, headed by Olalekan Fadolapo, has issued a directive: All commercials targeting Nigerians must be produced within the country. This move aims to curb capital flight and invigorate the domestic advertising sector.
Fadolapo asserts, ‘Stop outsourcing ads meant for Nigeria. Let’s nurture our advertising industry, generate jobs for our youth, and bolster the support service sector.’
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ARCON stands firm on this reform amidst opposition from the Advertisers Association of Nigeria (ADVAN). Fadolapo calls out ADVAN’s president, Osamede Uwubanmwen, for spreading misinformation about the reform.
Key Reforms:
1. Equal Respect for Local and Foreign Media Houses
2. Abolition of Rate Regulation
3. Implementation of a 45-day Industry Credit Policy
4. Prioritizing Nigerian Talent in Advertisements
ARCON emphasizes settling financial dues to one agency before engaging another, aiming to prevent industry debt.
Furthermore, ARCON stresses compliance with Nigeria’s copyright laws and introduces a structured engagement policy.
ARCON’s New Committee for Industry Valuation
In another statement, the regulator said it has established a committee to examine the value of the advertising industry and the sector’s contribution to Nigeria’s economy.
ARCON said the move is to enable the industry to continue to contribute to the growth and development of the economy.
“Sequel to the need to determine the size of the Nigerian advertising industry, the contribution of the industry to the economy and the multiplier effect of the contribution of the to the nation’s GDP, ARCON has set up a committee with the responsibility to determine the size of the industry using a quantitative approach in line with the best global practices,” ARCON said.
The committee will involve representatives from relevant sectors of the industry and chaired by Femi Adelusi, president, Media Independent Practitioners Association of Nigeria (MIPAN).
ARCON said stakeholders and the general public can send their inputs, memorandum and insights.
