Following the various reforms introduced into the Nigerian advertising ecosystem to provide a regulatory framework, the minister of Information and Culture, Lai Mohammed, has extolled the Advertising Regulatory Council of Nigeria (ARCON) and the National Broadcasting Commission (NBC) for the outcome in 2022.
According to the minister, the two regulatory bodies recorded a historic landmark in the outgone year, while setting a benchmark for further growth.
“We have succeeded in making groundbreaking reforms in Nigeria’s advertising, advertisement, and marketing communications industry by reviewing the law that set up the advertising regulatory body, the Advertising Regulatory Council of Nigeria (formerly the Advertising Practitioners Council of Nigeria).
“This action has repositioned the body as the foremost agency of the Federal Government for the regulation of advertising practice and business in Nigeria,” he said.
He added: “the Act empowers the Council to ensure the preservation of Nigerian local content and use of indigenous skills as an important element in advertising, advertisement and marketing communications services in Nigeria and for such services directed at the Nigerian market; further ensures the participation of Nigerians and Nigerian companies in the process, production, and execution of advertisement, advertising, and marketing communications campaigns targeted at the Nigerian market without compromising standards.”
Commending the efforts made on NBC reform, Alhaji Lai Mohammed agreed that the amendment of the Nigeria Broadcasting Code was in line with the Administration’s drive to provide job opportunities for Nigerians and also aimed at encouraging the development and growth of local content in the broadcast industry.
“Sections were included in the Code to make it compulsory for companies to have a higher percentage of investments and to meet basic minimums in local content.
Similarly, in a bid to ensure fair and efficient market competition in the broadcast industry, sections were introduced in the Code to discourage monopolies and anti-competitive practices by broadcasters, especially as it relates to sports rights. This position was further reinforced by the judiciary in a recent judgment,” he said.
