By Gabriel Olawale

Independent Television Producers Association of Nigeria, ITPAN, has expressed its excitement over the recent policy by critical stakeholders compelling a minimum of 75 per cent cumulative local content in advertisements targeted at the Nigerian market.

According to a statement signed by the Singed National President of ITPAN, Adeyinka Oduniyi said that ITPAN has long been an advocate and campaigner for urgent and critical policy interventions to save the practice and business of advertising in Nigeria.

We are very glad that the Federal Ministry of Information and Culture, the National Assembly and the DG of Advertising Regulatory Council of Nigeria, ARCON have finally and jointly decided on a more effective regulatory framework to guide and protect the practice of Advertising and its ancillary businesses in conformity with the best practices within the global advertising community.

The policy is compelling a minimum of 75 percent cumulative local content in advertisements targeted at the Nigerian market. This conforms with the Federal Governments policy of developing local talent and achieving an inclusive economic growth for all sectors, including advertising. 

“It is therefore gratifying to identify with and fully endorse the noble determination of the ARCON not only to stem the hemorrhage but to deliberately put in place a policy environment that will protect and encourage the rebuilding of a viable and sustainable advertising industry for the overall good of our national economy.

“At fruition, this new policy will put an immediate end to the acts of ferrying production of audio-visual advertisement materials to producers in foreign countries as well as discourage the use of foreign models and voice-over artistes thereby returning the jobs to equally and even better skilled Nigerians.

“As a direct consequence, the very many lost briefs and jobs shall return while our languishing production equipment shall find opportunities for productive engagements. On their parts, business owners shall be encouraged to reinvest and re-employ those who had been redundant; new investors and investments shall be attracted to bring in funding opportunities that financial institutions can leverage on.

“On our part, ITPAN hereby commits to engage with ARCON and other critical stakeholders to begin the rejuvenation process by developing ideas and strategies as well as implementing strategic partnerships and business opportunities that can lead to a more prosperous and sustainable industry for Nigeria and its people.