PricewaterhouseCoopers Limited (PwC), an organisation tasked with the duty of helping organisations and individuals create the value they are looking for by delivering quality Assurance, Tax and Advisory services, has announced the report of the contribution of the advertising industry’s contribution to Nigeria’s economy.
The PwC report was disclosed at a meeting in Lagos, in which the Advertising Regulatory Council of Nigeria (ARCON), in conjunction with several associates in the industry, was present to consider the advertising sector’s impact on Nigeria’s economy.
The report disclosed that the advertising sector’s impact on the economy stands at N605.2 billion, a calculation of the nation’s Gross Product (GDP).
The Advertising Regulatory Council of Nigeria (ARCON) made this known at the meeting, which spoke about the impact of the advertising industry and its unending contribution to the economy’s growth.
ARCON, ably represented by Director General Dr Olalekan Fadolapo, praised the sectoral groups who liaised with the agency to have an insight into the contribution of the advertising industry sector to the economy. He thanked the Broadcasting Organisation of Nigeria (BON) and other sectors for their unwavering support for the industry’s growth, which, at large, helps the nation’s economy.
Speaking further, he stated that they should be persistent in their effort to contribute their quota to the economy, as they need to do more day in and day out to ensure that they leverage the media space to reach a wider audience.
He categorically stated that the regulatory body, ARCON, is not relenting in its effort to pull its weight behind every sector of the advertising industry, as much as they have plans to move the industry and the nation at large forward.
Present at the briefing was the Chairman of the National Advertising Conference, Tunji Adeyinka, who bolstered the point of the Director General of ARCON by disclosing the various sectors of the advertising industry and their contributions.
He revealed that the Cable TV sector has amounted to a higher success for the industry, as its ability to disseminate information to a broader range of targeted audiences gives it an edge over the digital media and the content sector.
