APCON Unveils New Standard- Of -Practice Document To Regulate Nigeria’s Advertising Industry
After years of persistent calls for a regulatory framework that stakeholders can collectively key into, the Advertising Practitioners Council of Nigeria (APCON) has unveiled the new Advertising Industry Standard of Practice (AISOP) that would guide and regulate the business of advertising in Nigeria.
The Registrar/Chief Executive of APCON, Dr Olalekan Fadolapo during the Public Presentation of AISOP held on Wednesday, October 6, 2021 at Sheraton Hotel Ikeja Lagos disclosed that AISOP will provide minimum standard in terms of commercial activities of agencies, advertisers, media houses, advertising services providers and stakeholders, in matters relating to the business of advertising and related areas of marketing communications in Nigeria.
In his words, Fadolapo said AISOP is “A business framework that seeks to improve mutual respect, eradicate unfair advantage, unethical competition, and unequitable policies between relevant stakeholders in the advertising and marketing communications industry in Nigeria.”
He added that it specifically provides a regulatory framework of critical areas of concern to stakeholders, the areas include: engagement policy, payment terms and method, media rates and commission, remuneration model, disengagement protocol, returns on advertising investment and measurements, dispute resolution and other related business protocols.
According to the regulator, AISOP takes immediate effect from 6th of October, 2021 and shall become enforceable by APCON in the bid to ensure standardized operations, in line with global best practices.
He added that the Stakeholders Committee that drew up the framework was chaired by Mr Funmi Onabolu, a former member of the APCON Governing Council. The committee also had representative from Advertisers Association of Nigeria (ADVAN), Association of Advertising Agencies of Nigeria (AAAN), Broadcasters Organisation of Nigeria (BON), Media Independent Practitioners Association of Nigeria (MIPAN), Outdoor Advertising Association of Nigeria (OAAN), and Experiential Marketing Association of Nigeria (EXMAN).
Dr Olalekan Fadolapo explained that the execution of the guideline will put the country on a global map as one of the best destinations where advertising and marketing communications practices are done professionally.
“It is expected that with the implementation of this guideline, Nigeria will be placed among the most progressive advertising and marketing communications industry across the globe.”
He therefore urged stakeholders to support the initiative and abide by the standard of practice in the interest of growing the industry, creating jobs and growing the economy.
“Stakeholders and industry players are implored to support this guideline and to ensure the success of this effort. We trust that the faithful application of the Advertising Industry Reform in Nigeria will not only grow the business of advertising and marketing communications but will also create well over 100,000 jobs directly and indirectly in the next 12 months.”
“We are not oblivious of the fact that the AISOP may generate different degrees of sentiments but we are confident that the guideline serves to protect the best interest of the Nigerian advertising and marketing communications industry in particular and that of the general public.
“APCON is committed to constantly improving the practice and business of advertising in Nigeria and shall always welcome productive ideas that will enable her to deliver the best of conducive business environment in Nigeria in line with her mandate.”
Funmi Onabolu on his part said that although they have always been advertising regulations, but they have never been a single codified rule of engagement among practitioners, so AISOP serves as that instrument of self-regulation. The main reason is to avoid unfair practices. He explained further that AISOP is in line with global best practices and has input from various industry associations and other stakeholders. With this the document, he believes everyone in the industry is protected.
The event had in attendance the Heads of Advertising Sectoral Groups (HASG) members from ADVAN, AAAN, MIPAN, OAAN to EXMAN including other stakeholders from the advertising industry.