ARCON unveils 2024 national advertising agenda

The Advertising Regulatory Council of Nigeria, in collaboration with sectoral bodies from Nigeria’s marketing communications industry, has announced plans for the 2024 edition of the National Advertising Conference.

The Advertising Conference, themed “Navigating the Shifts: Technology, Culture, and New Business Models,” is scheduled to take place in Abuja from November 13 to 15, 2024.

Speaking at the unveiling of the conference in Lagos recently, the Chairman of the Planning Committee, Mr Tunji Adeyinka, noted that it was aimed at exploring the latest trends and innovations shaping the future of advertising.

He stated that the National Advertising Conference was now a key event for marketing communications professionals.

Adeyinka said, “2024 has introduced economic shifts, with advertisers facing high production costs and reduced consumer spending due to rising prices and stagnant wages.”

 Adeyinka stated that according to PricewaterhouseCoopers, Nigeria’s gross domestic product grew by 2.98 per cent in Q1 2024, up from 2.31 per cent in Q1 2023, while inflation rose from 22.41 per cent in May 2023 to 33.95 per cent in May 2024.

He added that PwC’s study estimated the advertising industry’s size at N605.2bn in 2023 and projected it to reach N893bn by 2028, saying that with the naira devaluation, the industry needed to explore new growth strategies in response to the current economic conditions.

In his opening remarks, the Director General of ARCON, Dr Olalekan Fadolapo, underscored the conference’s vital role in reinforcing the integrity and significance of the marketing communication field.

He urged all stakeholders to fully embrace the unique opportunity to engage in crucial discussions, refine their professional skills, cultivate thought leadership, and network with industry peers.

Fadolapo added that the conference represented a pivotal opportunity for advancing best practices and raising the standards of the sector.

On his part, the immediate past President of the Experiential Marketers Association of Nigeria, said the Chairman of the Channels Media Group, Dr John Momoh, would kick off the conference at the Fireside Chat on November 13 while the plenary sessions on November 14 will have speakers like the Chief Executive Officer of the Nigeria Economic Summit Group, Dr Tayo Aduloju, speaking about the economy, and the GCEO of First Primus West Africa, Mr Seni Adetu, speaking about industry consolidation.

He noted, “On the 14th, we will explore topics like the myths and realities of generative AI, marketing trends, technology, and youth culture in eight plenary sessions. The final day will feature 12 breakout sessions on three parallel stages, totalling 21 sessions.

“We will feature a speaker on the media business, focusing on the critical role of publishing professional industry publications. Additionally, we will examine innovative business models employed by global magazines around the world.”