The Minister of Information and National Orientation Mohammed Idris Malagi has called on the advertising industry to play a pivotal role in driving the country ‘s economic recovery by leveraging new technologies and embracing cultural diversity.
This was disclosed by the Director General of National Orientation Agency Lanre Issa Onilu at the National Advertising Conference 2024 in Abuja .
The Nigerian advertising industry has faced a lot of challenges includes, poor economy , poor purchasing power , and lack of trained advertising professionals.
It is why President Bola Tinubu’s administration is determined to change this narrative by creating an enabling environment for the sector to thrive.
This conference with the theme ; “navigating shifts , technology, culture , and new business models “ seeks to reshape how the industry should engage , persuade , and inspire audiences .
The Minister disclosed that the industry is valued at 605 billion in 2023 according to experts in the sector as it has a powerful multiplier effect.
Stakeholders in the sector , all agree that the industry need to adapt to rapid changes in business models and technologies.
The advertising industry is encouraged to always review its business model.
