“National Advertising Conference 2024 will create new opportunities for the industry”
By Amechi Obiakpu
The 2024 National Advertising Conference (NAC) will expose new opportunities to stakeholders in the advertising profession which will inturn have ripple effects on the economy.
This position was made known at a media briefing organised by the Advertising Practitioners Council of Nigeria (ARCON) in collaboration with key sectoral bodies in the IMC space to herald this year’s National Advertising Conference.
The conference with the theme: “Navigating the Shifts: Technology, Culture, and New Business Models,” will hold at the Abuja Continental Hotel, Abuja, from November 13 to 15, 2024.
Speaking at the event, Tunji Adeyinka, Chairman of the Organizing Committee and former EXMAN President noted that the theme of the 2024 conference reflects the need for the industry to explore new growth strategies amid the economic challenges.
According to him, the National Advertising Conference has become a vital annual gathering for the marketing communications industry which brings together professionals at various levels to address the evolving challenges within the sector.
Adeyinka explained further that 2024 has introduced significant shifts to the economy and the marketing communications landscape. Advertisers are grappling with rising operational costs and reduced consumer spending, exacerbated by inflation and stagnant wages.
“According to PwC, Nigeria’s GDP grew by 2.98% in Q1 2024, compared to 2.31% in Q1 2023. However, inflation surged from 22.41% in May 2023 to 33.95% in May 2024,” Adeyinka said.
He also referenced a PwC study on the advertising industry’s contribution, noting that the sector was valued at N605.2 billion in 2023 and is projected to grow to N893 billion by 2028. To be able to achieve the projections, Adeyinka noted there was the need for the industry to be intentional by looking for different ways to serve customers while adding value.
According to the conference program, Adeyinka said the event will kick off on November 13 with a Fireside Chat, headlined by Dr. John Momoh, Chairman of Channels Media Group. November 14 will be plenary sessions that will feature notable speakers, including Dr. Tayo Aduloju, CEO of the Nigeria Economic Summit Group, who will speak on the economy, and Mr. Seni Adetu, GCEO of First Primus West Africa, who will address industry consolidation.
One of the highlights of the conference is the host of Chief Marketing Officer (CMO) Forum, featuring industry leaders such as Adebola Williams of Promasidor, Morolake Emokpaire of Mondelez, and Kemi Longe of PZ, with a discussion moderated by Eyitayo Olayemi, host of the podcast Diary of a CMO.
The conference will close with a Gala Dinner on the evening of November 15 at the Abuja Continental Hotel, starting at 7 pm.
National Advertising Conference is designed to foster networking opportunities, provide valuable industry insights, and offer participants a chance to earn professional credit points.
Part of this year’s plans include discussions on the business of media publishing, exploring innovative business models used by global magazines and publications.
In his welcome remarks, Dr. Olalekan Fadolapo, Director General of ARCON, underscored the importance of the conference in enhancing the credibility and relevance of the marketing communications ecosystem in Nigeria.
He urged full participation from stakeholders, emphasizing the event’s role in facilitating knowledge exchange, thought leadership, and best practices.
The gathering had in attendance heads of all sectoral bodies and stakeholders in the IMC space.
In her response, EXMAN President, Tolulope Medebem, said every year new things are revealed in the National Advertising Conference. She noted that this year is unique especially with the featuring of the chats with CMOs adding that there will be lots of takeaways.
In a similar vein, Lanre Adisa, President of AAAN and Chief Executive of Noah’s Ark underscored the need to start something but more importantly to start something that will impact the industry.
“The conference is a talk shop that is in the best interest of our industry/economy,” Adisa said.
On his part, Yemisi Bamgbose, Executive Secretary, Broadcast Organisation of Nigeria (BON) described the conference as not just a noise but an intellectual gathering that will be beneficiary to all.
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