The National Advertising Conference (NAC) is set to return for its 4th edition, promising to be the most transformative event yet for the Nigerian advertising industry. Following the success of three previous editions, this year’s conference, scheduled from November 13th to 15th at the Abuja Continental Hotel, will bring together the most influential minds in advertising, government, and business. With the theme “Navigating the Shifts: Technology, Culture, and New Business Models,” the event is poised to ignite critical discussions that could shape the future of the sector.
NAC 2024 arrives at a crucial time for the industry, as businesses grapple with global economic headwinds, rising operational costs, and declining consumer purchasing power. Against this backdrop, the conference aims to foster public-private partnerships and drive innovation within the advertising sector, addressing key issues that impact both the industry and the broader business landscape.
During a recent press conference at Le’ola Hotel, Ikeja, Dr. Olalekan Fadolapo, Director General of the Advertising Regulatory Council of Nigeria (ARCON), underscored the importance of collaboration in addressing the industry’s current challenges. He emphasized that the 2024 NAC has been meticulously planned to bring together all sectoral groups, reflecting a united effort to drive growth and innovation.
“This is an industry event, and because of that, we have all the sectoral groups present, showcasing our commitment to collaboration,” Fadolapo said. “We are working together to ensure the 2024 National Advertising Conference is a resounding success, one that fosters meaningful partnerships and innovations for the industry’s future.”
Rethinking Strategies Amid Economic Challenges
The Chairman of the Planning Committee, Mr. Tunji Adeyinka, highlighted the unique challenges facing advertisers ahead of NAC 2024. With both the global and Nigerian economies under strain, advertisers must navigate a new reality where rising business costs and reduced consumer spending are the norms.
“A lot of our clients are facing significant headwinds, including the high cost of doing business and reduced consumer spending. This requires us to rethink how we support the businesses we work for, ensuring we deliver value in more innovative ways,” Adeyinka noted. He further emphasized the need for critical discussions on how to navigate the impacts of the naira’s devaluation, which has significantly reduced market size. “Our growth as an industry is directly tied to the success of the businesses we serve. We need to have serious conversations about how to navigate these realities and adapt to sustain growth.”
Industry Leaders to Shape the Conversation
The 2024 NAC will kick off on November 13th with a Fireside Chat featuring Dr. John Momoh, Chairman of Channels Media Group. Renowned for his ability to bridge past and present industry trends, Momoh will set the stage for deeper discussions throughout the three-day event.
The second day, November 14th, will begin with an opening session followed by a business session that will focus on the Nigerian economy. Dr. Tayo Aduloju, CEO of the Nigeria Economic Summit Group (NESG), will provide insights into the country’s current economic outlook and the challenges ahead. Industry consolidation will also be a major topic of discussion, with Mr. Seni Adetu, Group CEO of First Primus West Africa, sharing his expertise.
A CMO forum will provide a platform for top executives, such as Adebola Williams, Marketing Director at Promasidor, to discuss the realities and challenges faced by businesses at the C-level. In addition, prominent industry leaders like Victor Afolabi, Group Managing Director of GDM Group, and Funke Adekola, Chief Operating Officer of Dentsu Creative, will address the growing influence of generative AI in advertising during a session titled “Myths vs. Reality.” Other key themes will include the impact of youth culture on marketing and emerging industry trends.
Addressing Taxation, Publishing, and Thought Leadership
NAC 2024 will delve into the evolving landscape of taxation within the advertising industry, as well as the business of publishing. Attendees will have ample opportunities to engage in thought leadership sessions, network with industry peers, and collaborate on strategies to drive the sector forward.
Sectoral heads, including Mr. Lanre Adisa, President of the Association of Advertising Agencies of Nigeria (AAAN); Mrs. Tolulope Medebem, President of the Experiential Marketers Association of Nigeria (EXMAN); Dr. Omoh Abunene, Vice President of the Out-of-Home Advertising Association of Nigeria (OAAN); Mrs. Brenda Nwagwu, Vice President of the Media Practitioners Association of Nigeria (MIPAN); and Dr. Yemisi Bamgbose, Executive Secretary of Broadcasting Organisations of Nigeria (BON), have all expressed their enthusiasm for NAC 2024. They are urging members and stakeholders to attend and participate in this transformative event.
As the advertising industry faces unprecedented shifts, NAC 2024 presents a unique opportunity for stakeholders to come together, share insights, and shape the future of the industry. From technology and culture to new business models, the conversations at this year’s conference are expected to leave a lasting impact on the advertising landscape in Nigeria and beyond.
