MIPAN Business Outlook Session: Analysts Dissect Growth Opportunities In 2022

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It was strategic interactions at the highest level when The Media Independent Practitioners Association of Nigeria (MIPAN) organised its 2022 business outlook last Thursday at the Radisson Blu Hotel, Ikeja, Lagos. The theme of this year’s session was “Growth Possibilities In A VUCA Economic Environment: Myth Or Reality Ahead Of A Pre-Election Year.”

The event was a hybrid programme with thousands of participants joining the conversation via Zoom and Facebook using the link provided by the association. At the venue, most members of the association, the executives, other practitioners within the marketing communication industry, speakers, panelists, and the press were in attendance. COVID-19 guidelines were duly observed in line with government directives.

Femi Adelusi, President of MIPAN in his welcome address revealed that with so many discussions on the African and global economy, what has become clear is that for any business to win in Africa, it must win in the Nigerian market. “The Nigerian economy will continue to play an important role in our lives,” he added.

Speaking on the trend among survivalists in the last few years Adelusi said “The one that survives or grows is the most adaptive and the most optimistic, the most resilient in identifying the key opportunities even within and in the middle of the chaos and the dynamism that we may face in our various businesses.”

Speaking further Adelusi said, “what matters most is not what has hit us or is affecting our industry or country, what matters most is perhaps our mid-set, the pace of our adaptations and how we react, and the pace at which we react to the changes that happen in our environments, as well what all will continue to witness”

“Mutation has to a gene we must acquire at this special time”, he added.

The keynote speaker, Taiwo Oyedele, Africa Tax and Fiscal Policy Leader, PricewaterhouseCoopers Nigeria spoke extensively on the growth possibilities in a VUCA economy which is dominated by changing and uncertain landscapes and what organization can do specifically to survive and even excel in such trying times.

Oyedele acknowledged Nigeria’s leadership position and pointed out that until Nigeria’s dynamism grows beyond dependence on natural resources, Africa will remain at the lowest rung of the ladder.

Speaking on the impact of technology on all sectors including communication, Oyedele, pointed out that there are lots of people making more money using the technology available to them, than those who are even trained in such business. He used the example of some top-flight influencers earning much more than many others in the business of integrated marketing communications.

Speaking further, he pointed out that technology will continue to drive changes in 2022 especially big data and artificial intelligence that will continue the media and communication industry in future.

The dynamics for growth he stressed is the need for all players to have growth and innovative mindset. “What can I do differently in my space” he stressed.

Mr. Oyedele advised practitioners and the association to acquire more skills, focus on purpose-driven communication, brainstorm on opportunities available for them to take ownership of Africa, set targets to expand their influence across Africa, and not wait for other African countries to approach them. “We have what it takes to lead, and seeking knowledge and acquiring new skills is also a way forward because the skills possessed by the practitioners in Nigeria are in demand in different forms.”

Oyedele concluded by pointing out that in any challenging situation there are two things- danger and opportunities. He stressed that while it is good to be aware of the challenges in Nigeria’s situation, the difference we will make is when we nose effectively to discover the available opportunities we can exploit.

The panel discussion anchoured by Brenda Nwagwu CEO, QVT Media Limited had as panelists Akinwande Ademosu, MD/CEO Credit Direct, Adenike Adebola, of Guinness Nigeria who was represented by a marketing manager at Guinness, Uche Nwanne and Emeka Okeke, Group Managing Partner & CEO Mediafuse Dentsu International. Taiwo Oyedele, the keynote speaker also joined the panel.

In his submission, Emeka Okeke focused majorly on the reasons why some companies survive and excel in turbulent times while others sink. He stressed that with dexterity, creativity, and effective use of technology, organisations can successfully navigate the troubled waters and push ahead for success.

In his delivery, Akinwande Ademosu stressed that global volatility and uncertainty have always come in cycles. The current situation is coming to jolt everyone to wake up and face the reality to work out things because, in the chance of time, the situation will become history. Uche of Guinness also spoke on the fact that the current challenges have made consumers very sensitive, and this has put brand builders on their toes.

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