Nigeria’s inflation rate surged to 34.80 percent in December 2024 from 34.60 percent in November according to the latest Consumer Price Index and inflation data released on Wednesday, January 15 by the National Bureau of Statistics, NBS.

The December inflation data showed that the country’s inflation further rose marginally by 0.20 percent due to heightened demand for goods and services during the festive season.

On a year-on-year basis, the December inflation rate marked a significant increase of 5.87 percentage points compared to 28.92 percent in December 2023.

“On a year-on-year basis, the headline inflation rate was 5.87 percent higher than the rate recorded in December 2023 (28.92 percent). This shows that the headline inflation rate (on a year-on-year basis) increased in December 2024 compared to the same month in the preceding year (i.e., December 2023),” NBS stated.

Meanwhile, NBS said Nigeria’s food inflation dropped marginally to 39.83 percent in December 2024 from 39.93 percent in November on a year-on-year basis.

While the country’s inflation continues to rise, the Centre for the Promotion of Private Enterprise, CPPE, has stated how Nigeria’s inflation rate can drop.

Reacting to the report, CPPE highlighted that Nigeria’s inflation can moderate on pause of the monetary tightening policy by the Central Bank of Nigeria, reducing fiscal risks.

“To ensure a further moderation in inflationary pressures, CPPE recommends as follows: “Pause on monetary policy tightening and interest rate hikes by the CBN to reduce business operating costs.

“Reduction in fiscal risks to macroeconomic stability through a reduction in fiscal deficit and deceleration in growth of public debt,” the CPPE stated.

To safeguard telecom consumers and streamline regulatory operations, the Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Communications Commission (NCC) have signed a Memorandum of Understanding (MoU).

The agreement, finalized on Tuesday in Abuja, establishes a unified approach to addressing telecom-related issues, benefiting both consumers and operators while enhancing collaboration between the two regulatory bodies.

The MoU was signed by the Executive Vice Chairman/Chief Executive of the FCCPC, Mr. Tunji Bello, and the Executive Vice Chairman/Chief Executive of the NCC, Dr. Aminu Maida.

Speaking at the event, Mr. Bello emphasized the importance of the partnership, aligning it with President Bola Tinubu’s vision of promoting economic growth through regulatory collaboration, market efficiency, and prioritizing consumer welfare.

“This partnership will benefit both operators and consumers. It will foster harmonious collaboration between our organisations, streamline operations for telecom operators through a one-stop-shop approach, and ensure robust consumer protection, fair competition, and the eradication of exploitative practices,” Bello stated.

He highlighted the MoU as a critical milestone, noting that it represents the convergence of two diligent regulatory agencies to eliminate gaps in oversight while complying with legal requirements.

He called on other sector regulators to emulate this framework as mandated by Section 105 of the FCCPA.

Dr. Aminu Maida, the NCC’s Executive Vice Chairman, described the agreement as the result of extensive engagements aimed at protecting Nigerian consumers, especially within the telecom sector.

“In an era of rapid technological advancements, the significance of collaboration between regulatory bodies cannot be overstated.

“The telecommunications sector has become the cornerstone of Nigeria’s economic and social development, making it imperative to ensure a level playing field for all stakeholders while protecting consumers who depend on reliable and affordable communications services,” Maida said.

He added that the MoU symbolizes a shared vision of fostering a transparent, competitive, and consumer-focused telecommunications industry. By aligning efforts, the NCC and FCCPC aim to avoid regulatory uncertainty, promote clarity, and further the Federal Government’s Ease of Doing Business objectives.

The agreement also underscores the necessity of synergy in addressing challenges such as market abuses, consumer rights violations, and the complexities of a digital economy.

Maida commended the FCCPC’s leadership for its dedication to consumer protection and fair competition and urged all stakeholders to embrace the spirit of collaboration represented by the partnership.

“This MoU ensures that our respective mandates are harmonized to achieve maximum impact. Together, the NCC and FCCPC can drive innovation, inclusivity, and sustainability in Nigeria’s telecommunications sector and beyond,” Maida concluded.

The signing of this MoU marks a pivotal step in protecting telecom consumers and fostering a robust telecommunications ecosystem in Nigeria.

By Reuben Kalu

In the evolving digital marketing landscape, 2025 is shaping up to be a transformative year. Traditional paid media, once the backbone of marketing strategies, is becoming increasingly irrelevant. Instead, earned media and owned media are taking center stage, offering unparalleled opportunities for brands to connect authentically with their audiences.

In this article, we’ll explore how earned media has disrupted the dominance of paid media and how you can leverage your owned media assets to turbocharge your marketing efforts.

The Rise of Earned Media

Earned media refers to the organic exposure a brand receives through word-of-mouth, media coverage, social shares, reviews, and recommendations. Unlike paid media, which requires financial investment for visibility, earned media is driven by trust and authenticity—two critical factors that modern consumers prioritize when making purchasing decisions.

According to a Nielsen report, 92% of consumers trust earned media more than any form of advertising. This trust stems from the fact that earned media is unsolicited and unbiased, making it far more credible than paid advertisements. As a result, brands that focus on generating earned media are seeing higher engagement rates and improved customer loyalty.

Why Paid Media Is Losing Relevance

Paid media isn’t entirely obsolete, but its efficacy is waning. Here are some reasons why:

1. Ad Fatigue: Consumers are bombarded with ads every day, leading to desensitization and ad fatigue. Many now use ad blockers, making it harder for brands to reach their target audience through paid media.
2. Rising Costs: The cost of digital advertising has skyrocketed, especially on platforms like Google and Facebook. Small businesses often find it difficult to compete with larger corporations with bigger budgets.
3. Declining Trust: Modern consumers are skeptical of paid ads, often viewing them as intrusive or misleading. This lack of trust significantly diminishes the ROI of paid campaigns.
4. Algorithm Changes: Social media algorithms are increasingly favoring organic content over paid promotions. This means brands that rely solely on paid media are at a disadvantage.

The Power of Owned Media

While earned media’s authenticity is its strength, owned media provides the platform to control and amplify your brand’s voice. Owned media includes channels you control, such as your website, blog, email newsletters, and social media profiles. By strategically optimizing these assets, you can create a robust marketing ecosystem that works harmoniously with earned media.

Strategies to Maximize Your Own Media Opportunities in 2025

1. Create High-Value Content

Content remains king in 2025, but not just any content will do. Focus on producing high-value, shareable content that solves real problems for your audience. This could be in the form of:

• Educational Blog Posts: Address common pain points in your industry with actionable solutions.
• Interactive Media: Infographics, videos, and quizzes can significantly increase engagement.
• Case Studies: Showcase your expertise by highlighting success stories that resonate with your audience.

2. Leverage SEO and Content Optimization

Your owned media is only as effective as its discoverability. Search engine optimization (SEO) ensures your content ranks high on search engine results pages (SERPs). Key tactics include:

• Conducting keyword research to understand what your audience is searching for.
• Optimizing on-page elements like meta descriptions, headers, and image alt texts.
• Building backlinks to establish authority and credibility.

3. Develop a Strong Email Marketing Strategy

Email marketing remains one of the highest-ROI channels for owned media. Personalize your emails to cater to the unique needs of your audience segments. Use tools like automation and A/B testing to refine your campaigns and drive higher engagement rates.

4. Engage Authentically on Social Media

Social media platforms are an extension of your owned media. Rather than treating them as one-way communication tools, use them to foster genuine engagement. Respond to comments, participate in discussions, and share user-generated content to build trust and loyalty.

5. Build an Online Community

Communities foster loyalty and provide a platform for earned media to thrive. Create forums, Facebook groups, or Slack channels where your audience can engage with your brand and each other. Encourage discussions, host Q&A sessions, and reward active participants to keep the community vibrant.

6. Integrate Data Analytics

Use data analytics to measure the effectiveness of your owned media strategies. Tools like Google Analytics, HubSpot, and SEMrush can help you track metrics such as website traffic, bounce rates, and conversion rates. Data-driven insights enable you to fine-tune your approach and maximize ROI.

How Earned Media Complements Owned Media

Earned and owned media work best when integrated effectively. Here’s how:

• Amplification: Use your owned media channels to amplify positive earned media, such as reviews, testimonials, and media mentions.
• Engagement: Encourage your audience to share your owned media content, turning it into earned media.
• Credibility: Highlight earned media on your owned channels to build trust and authority.

For instance, if your brand receives a glowing review in a reputable publication, feature it prominently on your website and share it across your social media platforms.

Examples of Successful Earned and Owned Media Strategies

1. Glossier: This beauty brand leveraged user-generated content (earned media) on social platforms and amplified it through its owned media channels, including email newsletters and blog posts.
2. Spotify Wrapped: Spotify’s year-end feature encourages users to share their listening habits on social media (earned media), driving massive organic reach. The feature’s landing page on Spotify’s website (owned media) further strengthens engagement.
3. Apple’s “Shot on iPhone”: Apple’s campaign used customer-generated photos (earned media) and showcased them on its website and billboards (owned media), creating a seamless synergy between the two.

The Risks of Overlooking Earned and Owned Media

Brands that fail to adapt to the shift from paid to earned and owned media risk falling behind their competitors. Over-reliance on paid media can result in:

• High Costs with Low Returns: Diminishing ROI makes paid media an unsustainable long-term strategy.
• Missed Opportunities: Authentic engagement and trust-building opportunities are often lost.
• Decreased Credibility: Consumers may perceive your brand as overly promotional and inauthentic.

Conclusion: Turbocharge Your Marketing in 2025

In 2025, the most successful brands will be those that prioritize earned and owned media over traditional paid strategies. By focusing on authenticity, value, and engagement, you can build trust, foster loyalty, and drive sustainable growth.

Take the first step by optimizing your owned media assets and crafting a strategy to generate earned media. The result? A marketing approach that not only keeps pace with the times but also positions your brand as a trusted leader in your industry.

Call to Action:

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