The recent ADVAN Industry Dialogue in Lagos brought together advertisers and stakeholders to discuss pressing issues facing the marketing landscape in Nigeria.
One of the key points raised during the dialogue, themed ‘Public-Private collaboration in the marketing industry, the path to economic viability,’ was the importance of government agencies involving industry associations like the Advertisers Association of Nigeria (ADVAN) in policy formulation to avoid regulations that could threaten the survival of businesses in the advertising sector.
ADVAN President, Osamede Uwubanmwen, emphasized the association’s commitment to advocating for better industry practices and regulations while also fostering collaboration and innovation within the sector.
The Minister of Information and National Orientation, Mohammed Idris, represented by the Director-General of the Advertising Regulatory Council of Nigeria, commended ADVAN for its advocacy efforts and highlighted the crucial role of collaboration between the public and private sectors in driving economic development.
Professor Olufemi Saibu from the University of Lagos emphasized the need for friendly regulations and public-private collaboration to strengthen the advertising and marketing industry. While regulations are essential for ensuring industry standards and consumer trust, overly restrictive regulations could stifle creativity and hinder growth potential. Panelists at the event echoed similar sentiments, urging regulators to engage stakeholders in the policy-making process and to consider the impact of excessive fines and outdated regulations on businesses.
In response, representatives from regulatory agencies like the Lagos State Signage and Advertisement Agency and the National Agency for Food and Drug Administration and Control expressed openness to collaboration and dialogue with industry stakeholders to address concerns and strengthen the industry.
Additionally, new executives were elected during ADVAN’s annual general meeting, with Osamede Uwubanmwen returning as president for a second term. The election of new executives underscores ADVAN’s commitment to advancing the interests of advertisers and promoting collaboration within the marketing industry.
Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate