Nigeria advertising industry has come up with a document spelling out standard of practice for all practitioners in the advertising.
The document referred to as Advertising Industry Standard of Practice (AISOP) provided minimum standardized commercial terms for agencies, advertisers, media houses, advertising services providers and stakeholders, in matters relating to the business of advertising and marketing communications in Nigeria.
The document unveiled in Lagos recently seeks to improve mutual respect, eradicate unfair advantage, unethical competition, and unequitable policies between relevant stakeholders in the advertising and marketing communications industry in Nigeria.
Some of the provisions of the Standard of Practice states that all contracts between practitioners, either clients and agencies or between agencies must be formal and in writing before APCON can intervene in any matter. It spelt out a minimum of pitch fee of N1m which must be paid by clients who invited agencies for business pitch. Alternatively, clients can invite agencies for credential presentation.
The AISOP also states a minimum of payment term at 45 days for advertising business. Any payment made outside the stipulated 45 days will attract interest payment at prevailing Central Bank of Nigeria, CBN rate.
The document also allowed media houses to increase their rates unilaterally but they need to give 30 days’ notice.
Presenting the Standard of Practice document, the Registrar of Advertising Practitioners Council of Nigeria, APCON, Olalekan Fadolapo warned that there is penalty on non adherence to the provisions of the document.
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The Registrar said the document followed the approval of the Minister of Information and Culture, Lai Mohammed for APCON to develop an equitable and acceptable framework in line with the Federal Government’s reformative plans aimed at accelerating the pace of economic recovery post pandemic era, enhance gainful employment, and overhaul the Institutional and regulatory framework for the Nigerian Advertising Industry in line with best practices.
He said failure by advertisers to adhere to the provisions of the document will attract penalty but said any penalty imposed on a practitioner or client can be appealed against within 30 days. According to him, APCON has strengthened it legal team and as government agency, he said APCON is ready to leverage the services of attorney General office to ensure adherence to the document.
While appealing to all stakeholders and industry players to support the guideline and to ensure its success , Olalekan believed that the faithful application of the Advertising Industry Reform in Nigeria will not only grow the business of advertising and marketing communications but will also create well over 100,000 jobs directly and indirectly in the next 12 months.
The chairman of the committee that developed the document, Funmi Onabolu who described the guidline as a a win-win for all, called on all sectoral groups in the advertising industry to buy into the document for the growth of advertising industry.
Onabolu also called for enforcement machinery of the document. Members of the committee include representatives of Advertisers Association of Nigeria, ADVAN; Association of Advertising Agencies of Nigeria, AAAN; Broadcasters Organisation of Nigeria, BON; Media Independent Practitioners Association of Nigeria, MIPAN; Outdoor Advertising Association of Nigeria, OAAN; AND Experiential Marketing Association of Nigeria EXMAN.
