• Friday, May 24, 2024
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Advertisers canvass for Public-Private collaboration, call for industry-friendly regulations

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Advertisers and other stakeholders in the marketing industry have urged the federal government and its agencies involved in regulations to always engage the operators in the ecosystem before coming up with new policies or regulations for effective implementations and growth of the respective sectors.

They disclosed this at the ADVAN Industry Dialogue with the theme “Public-Private Collaboration in The Marketing Industry, The Path To Economic Viability,” held in Lagos last weekend.

Various speakers at the forum who underscored the importance of reforms but said regulations in any sector must be industry-friendly to achieve results.

They advocated for public-private collaboration in the formulation of policies and regulatory guidelines for effective implementation and positive outcomes.

Speaking at the event, Mohammed Idris, Minister of Information and National Orientation, represented by Lekan Fadolapo, Director-General of the Advertising Regulatory Council of Nigeria (ARCON) said “Public-private collaboration holds the key to unlocking new opportunities, overcoming challenges, and driving collective progress. This can be achieved by harnessing the complementary strengths, resources, and expertise of both the public and the private sectors”.

The Minister further urged all stakeholders to commit to fostering a culture of collaboration and partnership. “Let us work to identify common goals, explore innovative solutions and forge mutually beneficial relationships that will propel our industry and our nation toward greater economic viability and prosperity”, he said.

Delivering the keynote address on the theme of the event, Olufemi Saibu, Director, Quality Assurance, University of Lagos stated that public-private collaboration and friendly regulations will help strengthen the advertising and marketing industry. However overregulation could prevent the industry from achieving its full.

Stating that well-intentioned, overly restrictive regulations can stifle creativity, impede innovation, and hinder the industry’s growth potential, he said it is therefore necessary to address the gap between regulatory supervision and industry autonomy in order to create an environment that is friendly to advertising excellence in Nigeria.

During the panel session, the panelists including urged regulators to engage the stakeholders from the point of formulating policies to the point of implementing them

Stanislaus Martin, President of Advertising, Digital Marketing Professionals of Nigeria agreed that there is need for regulation but said there is also need to understand what is being regulated. “When parties feel aggrieved, then there is need for regulators to take a second look at regulation”, he said.

Other speakers said there must be standard, control and communication for regulation to be effective, strongly believing that stakeholders and operators must be involved in formulation of policies for effective regulation.

In his comment, Femi Adelusi, President of Media Independent Association of Nigeria said regulation is how to grow the industry and not stifle it. He also said operators must be at the same table in the formulation of regulatory guidelines.

Also speaking, Anthony Okoeguale, senior lecturer, Pan Atlantic University said achieving sustainability through collaboration among businesses would require a proper alignment of objectives to achieve the desired outcomes.

Earlier, Osamede Uwubanmwen, President of ADVAN said the association believes in addressing issues for industry growth.

The day also coincided with the Annual General Meeting (AGM) of ADVAN as new executives were elected . Osamede Uwubanmwen, Commercial Director, Biogenerics Nigeria Limited returned as President for a second term; Yusuf Murtala, Marketing Director, Coca-cola was elected 1st Vice President; O’Tega Ogra, SSA Digital Engagement, Communications & New Media Strategy emerged 2nd Vice President; Ediri Ose-Ediale, returned as CEO/Executive Director.; Akinrimisi Olabode Samuel, Deputy Marketing Director, CWay Foods and Beverages was elected Treasurer; and Adeola Emmanuel Amosun, Group Media Manager, Tolaram as Public Secretary’s