Broadcasting
Make no Mistake, Digital Advertising has a Significant Role to Play in Nigeria’s Economy
By Steven Edge; Ad Dynamo by Aleph COO
Ask most people what they think drives Nigeria’s economy and they’ll probably say oil. However, while oil still accounts for a large proportion of the country’s international revenues, its actual role in Africa’s largest economy is increasingly small.
In fact, oil now accounts for just over 6% of Nigeria’s GDP, with technology now playing a much bigger role. This shouldn’t come as that much of a surprise, Nigeria has a robust and competitive telecommunications space, and is home to many of the continent’s technology unicorns (start-ups with valuations in excess of US$1 billion).
Technology is however not a single-edged sword, it has other roles to play in the economy as well. Take the country’s booming fintech sector, for example. Of Africa’s seven unicorns, most operate in the fintech space, and five are Nigerian. Those fintech’s have also helped bring businesses online by making payments simpler and more efficient. As a result, as connectivity becomes cheaper and more ubiquitous, technology has intertwined itself with many significant aspects of the economy, including advertising.
In fact, digital advertising, which is today worth $179.20 million, is set to play an increasingly significant role going forward. That’s true not just for the country’s advertising sector, but also for the economy as a whole.
Primed for growth
In order to understand how influential digital advertising will be on the Nigerian economy, it’s important to provide some context surrounding exactly how primed the digital industry is for growth.
At present, there are around 109 million active internet users in Nigeria, that’s already a significant market for online advertisers, but this still only represents 51% of the total population. Thus, that number will only keep growing. In fact, it’s estimated that an additional 35 million Nigerians will come online by 2026. For context, that’s equivalent to the whole of Angola, for example, coming online in just four years. Not to mention, these internet users will also have increasingly high-quality connections. According to data from the Nigerian Communications Commission, the number of Nigerians with access to high-speed broadband internet grew 108.39% between March 2018 and March 2022.
Based purely on the maxim that advertisers need to be where their customers are, this is the kind of growth that simply cannot afford to be ignored.
Narrowing in and expanding beyond borders
When it comes to economic growth, however, it’s important to remember that digital advertising offers advantages that go significantly beyond reach and numbers. More so than any other form of marketing, digital advertising allows businesses to target people with highly personalised messages, catering to their individual needs.
With the right approach, businesses are therefore able to extract maximum value from any ad spend, enabling them to expand and grow, and this is not only the case for domestic growth either. With the right amount of platform related investments, including the likes of Facebook, Twitter, Instagram, Snapchat, TikTok, LinkedIn, and Spotify, Nigerian businesses can propel their products and services to the next level, into new markets, and beyond country borders.
Besides, the ability to bring in external revenue will only serve to further catalyse growth in the economy, and as the world slowly weans itself off oil, these foreign revenues will become more important. Thus, digital advertising will become critical to enabling growth.
Leveraging the necessary skills
Finally, it’s worth mentioning that the digital skills needed for a robust digital advertising market will also have a positive knock-on effect for the Nigerian economy. With initiatives like Aleph’s Digital Ad Expert Academy, more people are learning how to professionally navigate the online space, and therefore the number of people who understand not only the power of platform investments, but also the necessity of it, will increase. It’s an extremely symbiotic and interesting ecosystem that’s developing at a really high pace.
With a growing number of financial options, improved digital access, and available education initiatives people are becoming more digitally savvy than ever before. As a result, when reaching the stage of employment, they already have a strong entrenched appreciation of platform advertising for businesses, thus increasing investments, leading to yet further economic growth, and so the cycle restarts and continues.
Moreover, the professionals equipped with these skills will not only be able to guide domestic businesses through their digital marketing transformations, but also to become significant players on the global digital stage. Some may even go a step further, using these digital marketing skills as a jumping-off point for exploring other digital technologies. From there, they can put themselves in a good position to help foster the next wave of Nigerian digital innovation.
Embracing a digital future
It is therefore undeniable that digital advertising has a significant role to play in the Nigerian economy, both in helping businesses to grow, as well as driving additional expansion and innovation. But, in order for it to have the maximum impact, it’s critical that this process is fully embraced by all, and that businesses partner with industry experts who understand how to help them reach the right audiences, on the right platforms, at the right time.
MultiChoice Nigeria has announced an increase in subscription rates for its DStv and GOtv packages, effective March 1, 2025.
In a statement issued to customers on Monday, the company cited the need to maintain the quality of its service as the reason for the price adjustment.
The statement, titled “Price Adjustments for DStv and GOtv Packages,” read, “Dear Customer, please note that effective 1 March 2025, there will be a price adjustment on all DStv packages. This is to enable us to continue to offer our customers world-class homegrown and international content, delivered through the best technology.”
This increase came nearly a year after the company’s last price review, reflecting rising operational costs.
MultiChoice attributed the hike to economic pressures, including the depreciation of the naira and high inflation, which have significantly impacted its business operations in Nigeria.
According to the new pricing structure, the DStv Compact bouquet will rise from N15,700 to N19,000, while the Compact Plus package will now cost N30,000. The Premium subscription will increase to N44,500.
For GOtv subscribers, those on the GOtv Jinja package will now pay N3,900, up from N3,600.
The GOtv Plus package will increase from N4,850 to N5,800, while GOtv Max will now cost N8,500. The GOtv Supa and Supa Plus packages will be priced at N11,400 and N16,800, respectively.
MultiChoice has consistently defended its price adjustments, pointing to economic realities that have made running its services in Nigeria more expensive. The company maintained that the price review is necessary to sustain its offerings and ensure continued access to quality content.
KongaFM -103.7, Africa’s pioneering hit music and commerce radio station, is reshaping the broadcasting space with utter broadcasting professionalism and Nigerians are happy.
With its unique blend of music, advertisements and shopping, KongaFM is winning hearts.
Operating on terrestrial frequencies in Lagos on 103.7 and streaming online for listeners globally at www.kongafm.com, KongaFM has quickly become a favourite among audiences.
Promoters of the station are basking in the rave reviews.
Chris Uwaje, tech policy adviser, global speaker and former president of Nigerian Computer Society (NCS), said described the station as revolutionary.
“Awesome, very incredible and very futuristic entrenurship strategy. I predict very soon, KongaFm will be the numero-uno radio in Africa” he said
Louisa Olaniyi, one of Nigeria’s finest broadcasters simply said “Wow, brilliant”
Bargain hunters and shoppers are also thrilled by genuineness of deals on the station.
Nicholas Isiobi, a shopper said “I am happy with the quality and affordability of the products promoted. It is worth all my while”
Every day, the station kicked off with an exciting mix of hit music, motivational content, and commercial activities, setting itself apart as a trailblazer in the radio industry.
Grace Yusuf, one listener, mentioned how the station has positively impacted her daily routine.
“KongaFM is my go-to station every morning while commuting to work. The gospel music is great, while other content and inspiring discussions keep me motivated throughout the day,” she said.
Tunde Obaposh, currently pursuing his PhD in Robotics in Kansas, shared his experience streaming Konga FM online.
“I believe KongaFM is going to redefine the standard in the radio space. I love how they incorporate AI into their broadcasts, making the experience seamless and engaging,” he noted.
Perhaps the major standout of KongaFM and Konga.com is turning live radio broadcasts into an interactive shopping experience, allowing listeners to place orders seamlessly, even without expending much cash on data.
Nigerian shoppers now have more options with Konga.com, and most importantly, they can enjoy unbeatable prices on all items announced live on radio.
Nigerian music isn’t just a local force anymore, it’s a global takeover. Spotify’s 2025 Global Impact List shows just how far Nigerian music and artists have come, with Ayra Starr leading the way.
Ayra Starr
This list celebrates the 30 Nigerian songs that have connected most powerfully with international audiences this year, highlighting the country’s ever-growing influence on the world stage.
Ayra Starr: Nigeria’s Global Hitmaker
Ayra Starr, the “Sabi Girl,” is a chart-topping force reshaping the global music scene. Her catchy hits consistently top Nigerian charts, and her influence resonates worldwide, turning her music into international anthems. This makes her a leading voice in the exciting evolution of global music, transforming the soundscape one hit at a time.
This influence is clearly evident in her chart dominance. As a Spotify RADAR and EQUAL alumna and Nigeria’s most-streamed female artist on the platform in 2024, Ayra Starr’s artistry and strategic approach to global music are undeniable. While only two of her own tracks, Last Heartbreak Song and Bad Vibes appear on the Spotify Global Impact List, her collaborative power is evident with the chart-topping success of Santa. This track, featuring her alongside producer Rvssian and Latin artist Rauw Alejandro, showcases Ayra’s ability to connect with diverse audiences and expand her reach through strategic partnerships across different markets. Her impressive showing on the list, with six entries including Commas, GOOD FEELiNGS and Hypé underscores her versatility and appeal.
Her album, The Year I Turned 21, also cemented her global reach, ranking among the top 10 most-streamed albums of the year. Santa’s undeniable popularity speaks volumes about her global appeal and influence.
The Power of Collaboration
The global reach of Nigerian music is significantly amplified by the power of collaboration. The Global Impact List underscores this crucial role, revealing that 22 of the 30 listed songs are collaborations. This demonstrates that such partnerships are not merely a trend, but a necessity for Nigerian artists seeking international success. While three of these collaborations feature fellow Nigerian artists, 19 involve partnerships with artists from other countries, highlighting how cross-continental collaborations drive global recognition. Top hits like Santa, WE PRAY (TINI Version), and Another Vibe perfectly illustrate this collaborative power.
Spotify’s Head of Music for Sub-Saharan Africa, Phiona Okumu, notes, “Nigerian artists are breaking boundaries and the world is listening. Nigerian music has always been rich and diverse, and at Spotify, we’re proud to amplify these talents globally.”
Explore the vibrant cross-cultural sounds of Spotify’s Gone Abroad playlist that showcases exciting collaborations between international artists and the best of Nigerian and African talent.
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