TheCable

The Advertising Regulatory Council of Nigeria (ARCON) says advertisers will be mandated to use at least 75 percent local content in all advertising and marketing communication materials directed at the Nigerian market.

Olalekan Fadolapo, ARCON director-general, said this in a statement on Monday, adding that the policy will take effect from January 1, 2023.

Fadolapo said the nation’s advertising industry suffers a loss of over N120 billion annually to production of advertising, advertisement and marketing communication materials outside the country.

He said foreign production of advertising materials had continuously led to job loss as well as retarded the growth of the advertising sector.

Fadolapo said the current efforts of the federal government to create jobs and promote inclusive development of various sectors of the economy were negatively affected by the trend.

This, he said, will lead to continuous decimation of the Nigerian advertising industry, if not regulated.

“In line with section 8[1][1] of the advertising regulatory council of Nigeria act No. 23 of 2022 which empowered the council to ensure the preservation of Nigerian local content and use of indigenous skills as an important element in advertising, advertisement and marketing communication materials and for such services directed at the Nigerian market, ARCON will commence implementation of a policy to ensure a minimum of 75 percent cumulative local content of all advertising, advertisement and marketing communication materials with effect from January 1, 2023,” the statement reads.

Explaining the provisions of the policy, Fadolapo said models and voice-over artists must be Nigerian citizens, production of advertising, advertisement and marketing communication materials must be done in Nigeria and the ambience should reflect Nigeria as much as possible.

In addition, he said the production crew of the advertisement may include foreigners but Nigerians and Nigerian organisations must partake in the production.

Fadolapo also said the post-production may be done at any location (within or outside Nigeria).

He said the new policy would enable Nigerians and the Nigerian economy to benefit from an industry that has benefitted tremendously from Nigerians as consumers.

He added that the policy would create over 500,000 new job opportunities yearly within the advertising industry and also have a positive multiplier effect on the economy.

“Current job holders will be protected as the Nigerian advertising ecosystem will witness progressive growth. The new policy will also attract investment to the industry,” Tte ARCON boss added.

“The leakages and capital flight being experienced in the industry as a result of foreign production of advertising campaigns will be discouraged.”

Two weeks ago, ARCON announced that it had filed a N30bn suit against Meta over “unapproved adverts” being posted on its platforms.

It also banned the use of foreign models and voice-over artists for advertisements targeted at Nigerians in August.