ARCON Attributes Growth in Marketing Industry to FG’s 75% Local Content Policy, Reduction in Capital Flight

Raheem Akingbolu

The Director General of the Advertising Regulatory Council of Nigeria (ARCON), Dr. Lekan Fadolapo, has stated that the advertising and marketing communications industry has fared well under the Buhari/Osinbajo administration.

In an interview with THISDAY,  Fadolapo, who hailed the administration for the recent ban on the use of foreign models and voice-over artists in Nigeria’s advertising space and the use of a cumulative of 75 per cent local content in ambience, production, and post production activities, added that the industry has witnessed transformational reforms through progress-driven policies, regulatory frameworks, and legislations in the last two years.

“Quite a number of policies were made to protect and improve the ethical advertising business environment and practice. The administration ensured the successful implementation of the Advertising Industry Standard of Practice (AISOP), which provides a minimum standard of business practice between stakeholders as well as the deregulation of media rate in Nigeria. 

“The protection and improvement of local contents in the advertising industry were brought to the forefront to boost job creation, reduce capital flight, and attract investments in the sector,” Fadolapo said.

On the repeal of the Advertising Practitioners (Registration Etc) Act CAP A7, L.F.N 2004 and the enactment of the Advertising Regulatory Council of Nigeria Act, No. 23 of 2022, he pointed out that it has adequately empowered the Council to regulate the business and practice of advertising, advertisements, and marketing communications in Nigeria in all ramifications. 

On the constitution of council, Fadolapo further said: “In as much as the Constitution of a Governing Council would have complimented the works done by the Council, its absence did not adversely set back the potentials of the Council. The Honourable Minister of Information and Culture, Alhaji Lai Mohammed, did not relent in ensuring that the Council receives proper attention, which aids in the discharge of its statutory and ancillary mandates.”

President of the Association of Advertising Agencies of Nigeria (AAAN), Mr. Steve Babaeko, said the performance of the communication industry under the current administration had been a mixed one.

Babaeko admitted that the appointment of the Registrar, Dr. Olalekan Fadolapo, was a significant boost for the industry.

“Fadolapo’s proactive approach saw the implementation of several reforms, including The Advertising Industry Standard of Practice (AISOP) and the passage of the ARCON bill by the National Assembly. The signing of the bill into law by the President was also a major milestone for the marketing communication industry. Additionally, the Minister for Information and Culture, Alhaji Lai Mohammed, regularly engaged with stakeholders, effectively bridging the gap between the industry and the government,” he said. 

However, like most practitioners, Babaeko agreed that the non-constitution of the ARCON council remained a setback for the industry. While appealing to President Muhammadu Buhari to take necessary action before the end of his tenure, he emphasised that the issue required urgent attention.