The Minister of Information and Culture, Alhaji Lai Mohammed, has said the government embarked on reform initiatives of the broadcast space to strengthen the ecosystem, encourage inclusive growth as well as attract investment to the industry.
Speaking at the opening of the National Advertising Conference 2022, which began yesterday and ends today, he said these initiatives have not only brought improvement to the ecosystem but enhanced the competitive ability of the Nigerian brand.
On August 4, 2020, the Minister launched the amended 6th edition of the broadcasting code. The code seeks to regulate content exclusivity, enforce content sharing and empower NBC to determine prices at which content is sold to sub-licensees by rights holders.
The Minister also noted that the recent repeal of the Advertising Practitioners (Registration Etc) Act, which established the Advertising Practitioners Council of Nigeria (APCON) and enactment of the Advertising Regulatory Council of Nigeria (ARCON) Act No 23 of 2022 has led to improvement on the duties, mandates and responsibility of the regulatory agency.
He said the reforms have increased competition, thus, enabling “improved quality”, reduced capital flight as well as earning the country foreign exchange. He equally revealed that it has also helped in deepening the broadcasting landscape.
According to the Director General of the Advertising Regulatory Council of Nigeria (ARCON), Olalekan Fadolapo, “this year’s edition is happening at a time our regulatory framework is going through some fundamental changes aimed at improving the practice and business of advertising in Nigeria.”
While saying this year’s theme is timely and could not have come at a better time, Fadolapo told participants at the conference that the industry is threatened. His words: “There is a growing feeling within and outside the industry that the business and practice of advertising are on the decline. In order to arrest the apparent decline in performance standards as well as restore confidence and respect, ARCON in collaboration with all stakeholders has taken up the responsibility for interrogating the body of knowledge, called advertising, as well as improving the business framework and standards. This conference, therefore, provides an opportunity to discuss the current and future needs and challenges of the advertising industry.”
He noted: “This is the first edition of the National Advertising Conference under the new regulatory regime and it promises to be educative and insightful. I implore us all, to be frank in our discussion and contributions so that at the end of the conference, we would have reached meaningful decisions that will move our industry forward.”
The conference continues today with various speakers set to present papers and panels on touching issues such as, “Understanding the New Consumer from Gen Z to Alpha”, “Making Measurement real: Building Nigeria’s new television audience measurement system” and a Town Hall all meeting with the DG of ARCON.
Source: Guardian.ng
