SBI Media Group has emerged as Nigeria’s largest independent media agency, recording a remarkable 266 per cent growth over the past three years, according to the RECMA Nigeria Overall Activity Ranking 2024. The ranking also positions SBI Media as the country’s second-largest media agency overall, consolidating its leadership in a rapidly evolving market.
The latest RECMA report, widely regarded as the global benchmark for media agency performance, shows SBI Media commanding a 16.3 per cent share of Nigeria’s media market. This places the homegrown agency ahead of several global network competitors, including All Seasons Zenith, PHD, Carat, and iProspect, with only MediaReach OMD ranking higher.
Between 2021 and 2024, SBI Media more than tripled its activity volume, with 2024 alone contributing an 80 per cent year-on-year increase — the steepest growth trajectory recorded in Nigeria. The report noted that, despite foreign exchange realignments following the naira’s devaluation in 2023, SBI Media outperformed established global networks, demonstrating resilience and expansion in a challenging economic environment.
Commenting on the achievement, Chief Executive Officer Rotimi Bankole said the ranking validates the company’s long-term strategy and culture of innovation. “The latest ranking by RECMA further buttresses the effectiveness of our 10-year strategic plan to build Africa’s global media and communication group with the most cutting-edge strategy, people, and technology. This result is also an appreciation to our partners, stakeholders, and colleagues across all the local and global markets where we operate,” he said.
Bankole added that, with the emergence of the artificial intelligence Supercycle and its transformative impact on marketing industries worldwide, SBI Media is well-positioned to help brands build sustainable, responsible, and profitable engagement with audiences.
The 2024 RECMA ranking comes amid a rebound in Nigeria’s advertising industry, driven by key economic reforms, including the liberalisation of the naira and the removal of fuel subsidies. Traditional media, TV, radio, and print, have also regained momentum, attracting renewed attention from local and multinational advertisers.
Founded on a culture of innovation and thought leadership, SBI Media Group is a member of the Stagwell Global affiliate network and services clients across telecommunications, technology, aviation, FMCGs, finance, and e-commerce. The Group operates in Lagos, Accra, Johannesburg, Nairobi, Dubai, and London, with a workforce of over 100 media professionals.
