Nigeria’s advertising industry recorded media spending of N97.9 billion in 2015 against the N93.1 billion recorded in 2014; representing an increase of 5.2 per cent.
This information is contained in the just-released 2015 Mediafacts, a key media resource for marketing professionals in West and Central Africa.
According to the publication, produced annually by mediaReach OMD, a specialist media company that provides media planning, buying, control and inventory management services, “The 2014/2015 electioneering campaigns and the successful change in government may have positively impacted on the advertising spending in 2015, as it recorded a positive growth of about N4.8 billion over 2014 total media spending.”
The report revealed that television stations attracted the highest advertising expenditure of N39 billion last year, a figure that represents 40% of the total media spending. Mediafacts, therefore, put the advertising expenditure that went to the print media, outdoor and radio stations at N23.7 billion, N20.1 billion and N15.1 billion, respectively.
The advertising spending on the print media in 2015 was N23.7 billion, representing a marginal decline of 4% compared with N25.8 billion in 2014. Similarly, the advertising expenditure of N20.1 billion attracted by Outdoor last year was lower than N20.5 billion recorded in 2014. Mediafacts further revealed that the TV and radio stations in Nigeria attracted more advertising income of N39.0 billion and N15.1 billion in 2015, respectively compared to N34.6 billion and N12.1 billion they recorded the previous year.
The publication further revealed that advertisers spent N23 billion in each of the first and second quarters of 2015, while their media spending in the third and fourth quarters stood at N29.8 billion and N22.1 billion. “The highest spending for 2015 was recorded in Quarter 3 (N29.8 billion), representing 30% of the total spend,” the report stated.
In the regional analysis of the media spending, Lagos attracted the highest advertising spending for 2015. The state got N53.1 billion followed by the North Central (N12.1 billion), South West (N10.2 billion) and South South (N10 billion).
“The highest spending for 2015 was recorded in Lagos, 54%, followed by North Central (12%), while North East took the rear position. The paltry spending, less than 1% in the North East was traceable to the spate of insurgency in the region,” the Mediafacts stated.
Mr. Tolu Ogunkoya, Managing Director/CEO of mediaReach OMD, said: “Nigeria’s media is one of the most vibrant in Africa. State radio and TV have near-national coverage and operate at federal and regional levels. All 36 states run, at least, one radio network and a TV station. There are hundreds of radio stations and terrestrial TV networks as well as cable and direct-to-home satellite offerings.”
According to him, television viewing in Nigeria is concentrated in urban areas. “There are more than 100 national and local press titles; some of them are state-owned. They include well-respected dailies, tabloids and publications, which champion ethnic interests. By 2014, 70.3 million Nigerians were online (Internetworldstats.com). Mobile phones are commonly used to access the web. Most Internet users are young, educated and urban,” he stated.
Ogunkoya noted that Nigeria’s economy is the largest in Africa while its manufacturing sector is the third largest on the continent producing a large proportion of goods and services for the West African sub region.
His words: “The Nigerian environment, which is characterised with many investment opportunities seems to be the most attractive for foreign investors because of its liberal economic climate due to the following reasons:
*The economy has been liberalised for full open market
*100% foreign participation is now allowed in all sectors
*Privatisation programmes and industrial development encouraged
*Profit repatriation allowed
*All laws that inhibit full functioning of a deregulated, free enterprise and market driven economy were removed from stature books.”
Following the April 2014 statistical “rebasing” exercise, he stated, Nigeria had emerged as Africa’s largest economy, with 2015 GDP estimated at US$1.1 trillion. Ogunkoya said: “Oil has been a dominant source of income and government revenues since the 1970s. Following the 2008-2009 global financial crises, the banking sector was effectively recapitalised and regulation enhanced. Nigeria’s economic growth over the last five years has been driven by growth in agriculture, telecommunications and services.”
He said: “The report gives in-depth coverage of Nigeria and Ghana’s media markets. Media practitioners in the West and Central African regions, and companies making inroads into the markets in these regions would find this publication useful.”
OOAN Poster Awards: SBI Media wins Best Advertisement in IT, electronics categories
Less than two weeks after SBI Media Limited won two coveted awards at the Marketing Edge Brands and Advertising Excellence Award, the Media agency has won another award at the 2016 Outdoor Advertising Association of Nigeria (OAAN) Posters Awards. The agency through the #FoundOnKonga campaign won the awards for the best out-of-home, OOH creative for information technology and electronics.
The #FoundOnKonga campaign was a unique campaign executed for Konga in 2015. Leveraging on Tiwa Savage, a frontline brand ambassador for Konga.com, the advertisement positioned Konga.com as the platform with the largest collection of brands, products and services that brings happiness to the site’s loyal customers. The campaign was executed in a 360 degree manner, culminating in viral, press, radio, digital and OOH, the medium that recognised the brand with the awards.
While receiving the award, Alison Oyome, Head of Media Planning at SBI Media said: “On behalf of SBI Media and the Konga family, we appreciate OAAN for this honour and we will not be complacent but continue to take Konga to greater heights.”
Olaolu Abimbola, General Manager at SBI Media Limited, said “This is another story written in the Sands of time. Brick by brick, layer by layer SBI Media is set to transform the face of media buying, planning and strategy in Nigeria. We were really humbled and excited at the same time when the award was presented to us. I use this opportunity to say a big thank you to OAAN for considering us as worthy winners of such a prestigious award. We see it as a motivation to do more and strive for greater heights.” he added.
Rotimi Bankole, Managing Director of SBI Media, said: “I am delighted to have received this award on behalf of my team; Team SBI. In dedicating the award to Team SBI, there is a corresponding call on our ethics, capacity and professionalism, the core of which we bagged this award. We must not relent on it. We are happy to have received this award and look forward to retaining the award next year.”
Tummy-Tummy Noodles signs HumbleSmith as brand Ambassador
Tummy-Tummy Foods Industries Limited, makers of Tummy-Tummy Instant Noodles has entered into a one-year agreement with HumbleSmith, as its brand’s ambassador.
Tummy-Tummy Instant Noodles is the flagship brand of Tummy-Tummy Foods Industries Limited.
The firm started business in 2009 and in fiveyears became a notable name in the noodles category in Nigeria, especially in the Eastern part of the country, with two delightful variants – Chicken and Seafood flavours.
With the signing on of HumbleSmith whose hit song Osinachi, still rocks the music scene in Nigeria and beyond, Tummy-Tummy seeks to create a bond with the young and the young at heart.
Tummy-Tummy Noodles as a young brand has gained huge acceptance and is positioned to create a strong brand engagement platform with its teeming audience.
HumbleSmith as brand ambassador will carry the message of Tummy Tummy and will be the face of the wholesome goodness of the noodles brand for the duration of the contract.