The Advertising Regulatory Council of Nigeria has set up a committee with the responsibility of determining the size of the Nigeria Advertising industry.
The apex regulatory body made this known in a press release signed by its Director-General, Dr. Olalekan Fadolapo.
According to ARCON, the committee will be chaired by Mr. Femi Adelusi, President of the Media Independent Practitioners Association of Nigeria (MIPAN), who will work closely with other representatives from sectors of the industry.
Relatedly, the council has called for inputs, memorandum and insights from the stakeholders in particular and the general public.
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“Advertising is an economic enabler and has continued to contribute tremendously to the growth and development of the Nigerian Economy. It supports competition, drives innovation, creates jobs and funds the media as a part of its contribution to the economy.
The statement also stated, “detailed knowledge of the industry size allows us to fully assess opportunities and accurately plan our policies and approach in the best interest of the industry in particular and the economy at large”.
According to ARCON, the committee will also determine the contribution of the Nigerian Advertising Industry to the economy and the multiplier effect of the contribution of the Nigerian Advertising Industry to the Nation’s GDP, using a qualitative approach in line with the best global practices.
