Generate more revenue at the national level through the advertising market? That is the goal Nigeria has set for itself in recent months.
Driven by the ambition to clean up the advertising market as a whole, Nigeria's new Advertising Regulatory Council (Arcon) is stepping up its decision-making. It should be noted that shortly after announcing a ban on the use of foreign models and voice-overs in advertisements targeting the local population, Nigeria also took measures to promote local advertising content.
From 2023, advertisements targeting the Nigerian population will have to be produced within the country. According to an official statement, "Advertisers will be required to use a cumulative percentage of 75% local content in all advertisements and marketing campaigns."
Beyond the audiovisual landscape, the authorities are also targeting digital advertising to clean up the advertising sector and generate more revenue. Influencers and content creators are in their sights. ARCON has therefore included a new provision in the advertising code of practice, which came into force nationwide in 2022. Influencers, bloggers, and digital content creators are now required to submit their advertising content to the regulator for approval. The aim is to monitor quality and compliance with the law, but also to have a say in partnerships between influencers and brands.
An advertising tax of 7.5% will therefore be imposed on advertisers.