APCON partners NBC to resolve N8bn media industry debt
Advertising Practitioners Council of Nigeria (APCON) and National Broadcasting Commission (NBC), the two government agencies regulating advertising practice and the broadcast media have agreed to collaborate in ensuring the resolution of the age-long industry debt, adherence to advertising code among other critical industry issues.
This was part of the agreement arrived at during the courtesy visit of APCON management to the leadership of NBC, recently.
Following the recent visit by the Registrar/Chief Executive, APCON, Dr. Olalekan Fadolapo, to the acting director general of the National Broadcasting Commission (NBC), Prof. Armstrong Idachaba, to seek collaboration and promote policies that will improve the advertising industry and strengthen inter-sectoral relationship, the APCON boss disclosed that plan are on by APCON to develop a new business framework and Standard Operating Procedure, (SOP) for the advertising industry.
Fadolapo stated that the business framework would be comprehensive and would address critical industry concerns which include industry debt, payment policy, inter and intra sectoral relationships among other issues.
The APCON Registrar stressed that NBC was expected to make substantial input and adequately participate in the formulation of Standard Operating Procedure (SOP) for the industry.
The SOP will require stakeholders’ participation; hence the APCON Registrar sought the mutual collaboration of NBC as a government regulatory agency to support and ensure compliance.
Fadolapo also appealed for the support of NBC in ensuring that all broadcast media organisations comply and enforce the advertising code.
The APCON Registrar revealed that the visit was in line with the directive of the minister of Information and Culture, Alhaji Lai Mohammed, requesting that all agencies regulating the advertising and media industry should collaborate and seek solution to the age-long media debt.
Idachaba, expressed his delight at the call for collaboration by APCON and reassured of NBC commitment to partner with APCON in every area of interest that will improve the long-standing relationship and the respective mandate of the two government agencies.
He assured the APCON Registrar on the support and participation of NBC in the formulation and implementation of the SOP.
The Ag DG NBC further sought the support of the APCON Registrar on Zero Debt Tolerance policy of the broadcast media and the revised broadcast code.
The two regulatory agencies agreed to sign a Memorandum of Understanding (MoU) and work together to promote a healthier business environment for all stakeholders.
It was gathered that the advertising industry has over the years been enmeshed in controversy of over N8 billion debt owed by advertisers and media buying agencies, which stakeholders blame on weak regulatory environment.
Advertising agencies believed the huge media debt profile of client companies have been creating some operational challenges, especially those in the out–of–home advertising, electronic and the print media.
It was also learnt that two months ago, operators in Nigeria’s outdoor advertising industry who are burdened by the challenging economic environment worsened by the effect of COVID-19, had passionately appealed to the government for debt cancellation incurred on vacant bill boards as palliative extended to other industries within this period.
