Nigeria PR report has revealed that 56 per cent of public relations (PR) agencies in Nigeria are reporting revenues of less than N5 million annually. However, 68 percent of the agencies reported that their revenue plateaued in 2015, while 15 percent reported a decline in revenue which was in line with the Nigerian recession.
The report further revealed that in 2019, 71 percent of agencies indicated growth in revenue and 10 per cent reporting a decrease in revenue.
There are about 200 PR agencies in Nigeria registered either with the Nigerian Institute of Public Relations (NIPR) or Public Relations Consultants Association of Nigeria (PRCAN).
In its survey, the BlackHouse Media (BHM), which conducted the 2020 fourth edition of the PR annual research, used a sample population of about 196 respondents in the industry made up of agency owners, clients, agency staff and media practitioners to arrive at its findings. The annual report is dedicated exclusively to chronicling data on trends, perceptions, challenges and prospects within the industry.
Most of the PR agencies, according to the PR report are within the SME band, with 64 percent of respondents qualifying as micro-enterprises based on the number of employees as defined by the Small and Medium Enterprises Agency of Nigeria (SMEDAN).
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Insights from the report highlight the pedigree of some of the PR agencies in Nigeria. To be sure, 12 percent of Nigerian PR agencies have been in operation for five years, 19 percent have been in operations for more than five years and less than ten, whilst only 9 percent have been in operation for over 20 years.
In addressing the improvement made to counter gender imbalance and the need for improvement on the same, the report shows that the industry remains male-dominated with a record of 74 percent while women constitute just 26 percent of the industry. Younger agencies under five years old seem to have a higher proportion of men with women comprising only 21 percent of PR professionals working in these agencies. Older agencies that have been practising for 11 to 20 years parade 44 percent of women professionals as their staff.
This situation is not limited to Nigeria. In a report published on the PRWeek in 2019, 64 percent of PR professionals surveyed in 37 countries in the first Global Women in PR(GWPR) Annual Index to address issues in gender diversity believe having more women in the boardroom would improve profitability and 81 percent said more should be done to help women get there.
