News
Telcos, Banks Rank Biggest Ad Spenders as Media Spends Hit N81Bn
Though advertising expenditure dropped in the Above-the-Line (ATL) segment of the media last year to N81 billion, as against previous year’s spending of N88 billion, advertising budgets remain focused on television and newspapers, as outdoor and radio advertising volume drops.
Contrary to trends in the U.S. or Europe, where the lion’s share of ad budgets is focused on internet and TV marketing, media observers had projected that between 2018 and 2020 the majority of advertising dollars in Nigeria will be devoted to TV and video promotion.
In developed markets internet advertising expenditures are expected to surpass TV, however, in Nigeria TV advertising is and will remain strong in the near future, a trend the latest data have shown.
Data made available by mediaReach OMD in its latest edition of MediaFacts Book showed that, of the N81 billion, advertising revenue recorded in the ATL segment, Television accounted for N29.4 billion, followed by newspapers with N20.8 billion, while outdoor advertising expenditure dropped to N20.7 billion.
Radio advertising however continued to experience a decline, recording only N10.1 billion last year. Although, there are claims about rise in advertising revenue in social media and other forms of the internet market, the latest edition of the book did not provide data in that regard.
In Ghana, advertising spending hit N62.5 billion (967.4m Cedis) with penetration higher in television, radio and the Internet.
According to the book, 43 per cent or N34.8 billion was expended in Lagos, while the remaining was spread across the six geo-political zones.
Some of the advertisers that accounted for the volume include, GSM Service providers, operators in the banking and finance sector, corporate entities, as well as food and beverages companies.
The latest edition of MediaFactsBook gives an extensive coverage of English-speaking markets – Nigeria and Ghana; French-speaking markets – Côte d’Ivoire, Cameroon, Togo and Benin, in addition it covers 17 other markets in West and Central Africa.
The firm noted that media practitioners in West and Central Africa and Companies that are making inroads into the various market(s) in the region find the book useful.
The book focuses on providing an in-depth Media overview, covering Consumption of Media, Ranking of Stations & Publications, Media Investment Trends, Top Categories & Advertisers, Demographic Understanding of Consumers. It also provides vital information and statistics about markets in terms of Key Facts, Economic Indicators among others.
News
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.
Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,
This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.
While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.
Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.
It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.
Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.
Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.
News
As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply
While 85 per cent of Nigeria is in darkness, Tanzania, an African country has shut down five hydroelectric stations in a bid to reduce excess electricity in the national grid.
Kassim Majaliwa, prime minister, Tanzania, has said the main plant, Mwalimu Nyerere Hydroelectric Station, alone generated enough electricity to power major cities, including Dar es Salaam, the country’s commercial hub.
It is the first time Tanzania, which suffers chronic power shortages, has closed hydroelectric stations due to excess production.
“We have turned off all these stations because the demand is low and the electricity production is too much, we have no allocation now,” an official from state-run power company, Tanesco, said.
The 2,115MW Julius Nyerere Hydropower Dam is said to be almost filled with water following heavy rains that started early this year.
Meanwhile, while the country has an installed capacity of 1,938MW and the grid installed capacity of 1,899MW, Nigeria which has an installed capacity of 13,000MW is struggling to electrify 85 per cent of its electricity consumers.
News
President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman
President Bola Tinubu has approved the appointment of Jim Ovia, renowned banker and businessman, as the Chairman, Board of the Nigerian Education Loan Fund.
Ovia’s appointment is contained in a State House statement titled, ‘President Tinubu appoints Jim Ovia as Chairman of the Nigerian Education Loan Fund,’ and issued on Friday by Ajuri Ngelale, special adviser to the President, Media & Publicity.
The statement noted that “Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.
“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.”
The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.
“The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds,” the statement partly read.
Ovia’s appointment will also ensure “that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.”
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