Home Social networking FG strengthens APCON to attract investment — Minister of Information — Nigeria — The Guardian Nigeria News – Nigeria and World News

FG strengthens APCON to attract investment — Minister of Information — Nigeria — The Guardian Nigeria News – Nigeria and World News

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Information and Culture Minister Alhaji Lai Mohammed said the government has approved the implementation of the Advertising Practitioners Council of Nigeria (APCON) reform initiatives to strengthen the advertising ecosystem, encourage inclusive growth and attracting investment in industry. .

The Minister revealed this yesterday in Epe, Lagos State during the 49th Annual General Meeting of the Association of Advertising Agencies of Nigeria (AAAN).

“As many of you know, one of the bold and necessary steps we have taken in recent times is the endorsement of APCON’s ongoing reform initiatives. The reform aims to strengthen the advertising ecosystem, encourage inclusive growth and attract investment in the sector,” he said.

In his article titled “The New World Order: Digital Transformation in Communication”, the Minister said that advertising and brand marketing are great examples of sectors where consumer data is essential, hence the need for leverage technology for direct engagement with audiences.

He said that in a world rapidly changing in its dynamics of opportunity and risk, speaking directly with consumers in a data-driven environment has brought brands and entrepreneurs closer to their consumers than
never before.

“The chances of success or solution to any challenge in this new world order are as high as our regard for the power of digital technology.

And the entrepreneurial opportunities that lie in wait at this crossroads between technology and the economy of industries like advertising and brand communications are vast, and you, as industry leaders, must continue to harness a variety of talents and skills to make the most of the opportunities presented,” said Mohammed.

He said realizing the power of technology in brand communication necessitated the establishment of the Ministerial Audience Measurement System Task Team to provide a legal and constitutional framework for national understanding, systemic, accountable and data-driven of the impact of communication on consumer behavior.

Mohammed expressed the wish that all concerned parties of the ministerial task force will be able to complete the tasks in order to initiate the necessary legislative processes for the implementation of the hearing measure before the end of this administration. .

He, however, advised AAAN to be wary of the powerful impact of deliberately false news, orchestrated misinformation and demarketing by unscrupulous and faceless online vendors, which pose enormous risks to the communication of the brand because they undermine the most essential ingredient of successful consumer engagement, which is trust.

“We need you, as seasoned communicators and key stakeholders, to also consider the ripple effect of fake news and misinformation on the economics of advertising and brand marketing, at the both short and long term. It ambushes every brand promise and every potential argument you make in favor of your products and services,” Mohammed said.

He said the federal government is committed to exploring all opportunities offered by social networking sites, such as Facebook, Twitter, Instagram and WhatsApp, for the benefit of the people, noting that some of the major tech giants have shown their interest in investing and exploring business opportunities in the Nigerian digital space.

In his welcome address, AAAN Chairman, Mr. Steve Babaeko commended the Minister for his tireless efforts in repositioning the advertising ecosystem in Nigeria.

The Minister was accompanied at the event by the Registrar/Managing Director of APCON, Dr. Olalekan Fadolapo, and the Managing Director of the Nigerian Tourism Development Corporation, Mr. Falorinso Coker.

Segun Adeyemi Special Assistant to the President (Media)
Office of the Minister of Information and Culture
Epe, Lagos State
July 23, 2022