Lai Mohammed, Minister of Information and Culture, has said the country’s advertising industry will create around 500,000 jobs annually by implementing a 75 percent mandate for local content.
Mohammed spoke on Thursday, at the 2023 industry colloquium, organised by the Advertising Regulatory Council of Nigeria (ARCON), in Lagos.
The Minister said the introduction of the industry standard of practice was one of the high points of the council.
He said the implementation of the policy was important to ensure that a 75 percent cumulative local content was integrated on all advertisement, advertising, and marketing communication materials from January 1, 2023.
Mohammed added that the initiative would save the country hundreds of millions in capital flight.
Represented by Sunday Baba, Director of Communications of the Ministry of Information and Culture, the Minister said advertising has significantly advanced the economy, noting that any economy seeking development must not overlook its importance.
He appreciated ARCON for its reforms since the commission evolved from the defunct Advertising Practitioners Council of Nigeria.
Mohammed said the council’s strides were consistent with the dynamic demands of the sector.
“The convergence of the academia and all business practitioners will profitably motivate an industry like advertising and marketing communications, especially the young ones whose talents and skills are at this stage, mixing what they were taught in school in preparation for practice and the actual practice itself,” he said.
“I am delighted to see the progress that ARCON has been making to ensure that the advertising and marketing industry in Nigeria is professionally practiced as it should be. The industry has seriously witnessed a series of reforms and other developmental strides.”
On his part, Olalekan Fadolapo, Director-General, ARCON, said there is a gap between what is taught in schools and what the job market requires, which is what necessitated the colloquium.
“In the industry, we have things to unbundle as skills. Last year, NUC came up with unbundling of mass communication. We have a situation where students that leave the university are not employable or are not good at what they do,” he said.
