ARCON Outlook Webinar: Experts Chart Course For Advertising Industry Amid Economic Reset

Experts at the recently held Webinar on Navigating Economic Realities, organised by the Advertising Regulatory Council of Nigeria (ARCON), have called on stakeholders in the marketing communications industry to deepen collaboration, embrace technology, and adopt consumer-centric strategies as Nigeria navigates its economic transition into 2026.

This charge formed the centrepiece of the high-level virtual webinar themed “Navigating Economic Realities: Lessons from 2025, Strategies for 2026,” hosted by the Director-General of ARCON, Dr. Olalekan Fadolapo, and attended by nearly 200 participants from across the country.

The session featured a distinguished panel comprising Emeka Okeke, Executive Chairman and Group CEO of MediaFuse Dentsu International; Lanre Adisa, Chairman of HASG; and Manpreet Singh, Chief Marketing Officer of Tolaram Group. The discussion was moderated by Brenda Nwagwu, Managing Director and Chief Executive Officer of QVT Media Limited.

A major highlight of the webinar was a keynote presentation by Mr. Muyiwa Oni, Regional Head of Equity Research at Standard Bank Group, who provided an in-depth analysis of Nigeria’s macroeconomic outlook and its implications for businesses and marketers in 2026.

In his presentation, Mr. Oni described the past few years as challenging but noted that the Nigerian economy is beginning to show signs of recovery.

“For 2026, we expect positive momentum across GDP growth, inflation, interest rates, and foreign exchange,” he said.

According to him, Nigeria’s GDP growth is projected at about 4.2 per cent, with potential upside beyond 5 per cent if reforms continue. He attributed recent improvements largely to the oil and gas sector, which has benefited from reduced vandalism and renewed investments.

He also pointed to renewed investor interest, including planned investments by major energy firms, as evidence of growing confidence in the sector.

“Inflation has been a major theme for Nigerians,” he said. “We expect it to moderate to around 15 per cent in 2026, which should create room for interest rate cuts and lower borrowing costs.”

He added that easing monetary policy could reduce financing costs for businesses and stimulate investment.

Addressing foreign exchange developments, Oni said reforms in the FX market and improved oil receipts have strengthened Nigeria’s external reserves.

He noted that declining dependence on imported refined petroleum products, due to local refining capacity, has also supported the currency.

On fiscal matters, Oni expressed concern about Nigeria’s projected ₦20 trillion budget deficit but described recent revenue assumptions as more realistic.

He also warned that, while macroeconomic indicators are improving, the gains have not yet fully translated to improved household welfare.

Summarising the keynote, moderator Brenda Nwagwu described the outlook as a “2026 Great Readjustment.”

“The shocks of 2025 high inflation and currency volatility are tapering off,” she said. “We are looking at more stable forex, improving GDP, and declining inflation. This gives businesses room to plan.”

Reacting to the presentation, industry leaders emphasised the need for closer collaboration between regulators, agencies, clients, and government.

Emeka Okeke stressed the importance of collective action. “To ride above the challenges of 2025 and cruise in 2026, we need radical collaboration,” he said. “We must work closely with government and regulators to develop policies that will help us stay in business.”

“We need prompt engineers, data experts, and tech specialists,” Okeke said. “The creative industry is evolving, and we must evolve with it.”

Lanre Adisa echoed similar sentiments, describing 2026 as a “reset year” for the sector. “The comfort is that the shocks of the past are declining,” he said. “It’s now easier to plan. But sustainability is key. We must justify the value we bring to clients and to government.”

Adisa also highlighted the need to redefine professional roles. “The same old rules cannot hold anymore,” he noted. “Today, we need talent, tools, and technology. Writing copy alone is no longer enough.”

From the client’s perspective, Manpreet Singh urged marketers to focus more deeply on consumer realities. “Consumers are asking three questions today,” he said. “Can I afford this? Is it available? And does it fit my routine?”

According to him, brands must redesign their pricing, packaging, and distribution strategies to align with shrinking household budgets.

“We focus on designing for value per naira,” Singh explained. “It’s not about margin per unit, but about penetration and accessibility.”

He cited Guinness’s performance as an example of effective brand management in difficult times.

“Last year, we achieved double-digit growth in value and volume,” he said. “By restoring accessibility and rebuilding trust, we strengthened our market position.”

Singh added that recovery in 2026 must be deliberately engineered.

During the interactive session, participants raised concerns about government borrowing and its impact on private sector growth.

Responding, Oni said declining interest rates and strong demand for government securities could ease pressure.

“As rates fall, credit growth could increase by up to 15 per cent,” he said. “So, borrowing pressure may be mitigated.”

However, some participants expressed reservations. “If borrowing is for consumption rather than productive projects, growth will be limited,” one contributor noted. “Advertising costs have risen sharply due to FX pressures.”

On inflation, Oni clarified that recent data suggest slowing price increases rather than outright price reductions. “Prices are rising more slowly,” he said. “That’s different from prices falling.”

In his closing remarks, Dr. Olalekan Fadolapo reaffirmed ARCON’s commitment to sustained dialogue with industry stakeholders.

“This conversation will not end here,” he said. “We will return at the end of the first quarter for a review. We want to know if things are flowing as expected and what policies we need to adjust.”

He highlighted the Federal Government’s “Nigeria First” policy, which prioritises local talent and capacity development.

“We must promote Nigerian talent and sustainability,” Fadolapo said. “There must be policies to support advertisers, agencies, and media owners alike.”

The ARCON boss also disclosed that the council would continue engaging experts to study industry trends and performance.

“Our research shows that this industry is huge and full of potential,” he said. “We still have resources, and we must harness them.”

As the webinar concluded, speakers agreed that while macroeconomic stability is gradually returning, translating it into improved consumer welfare and industry growth remains the central challenge.

“2026 offers us an opportunity,” Adisa said. “We are storytellers. We connect the dreams of clients with the expectations of consumers.”

Similarly, Okeke noted, “We must invest in ourselves, collaborate more, and future-proof our businesses.”

For Singh, the focus remains on accessibility and trust. “We must turn macro-stability into micro-accessibility,” he said. “That is how brands will win.”

With ARCON pledging continued engagement and stakeholders aligning around innovation, collaboration, and consumer value, the webinar marked a significant step toward repositioning Nigeria’s advertising industry for sustainable growth in 2026 and beyond.