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NIGERIAN NEWSPAPERS RAKE 143 BILLION NAIRA IN ADVERT REVENUE IN TEN YEARS

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Advertising income for Newspapers in Nigeria hit N143.1 billion between 2006 and December 2015, revealing a wavy pattern that reached its peak in 2014 with N25 billion; and declined to 23.7 billion at the end of 2015.
According to a special edition of mediafacts in the last ten years, by mediaReach OMD titled: mediafacts Nigeria 10 Year Trend Review (2006 to 2016), the N4.4 billion advert income in 2006 moved up to N4.8 and N4.9 billion in 2007 and 2008 respectively. The newspapers got N15.8 billion in 2009 and N16.5 billion in 2010.
The figure declined to N15.4 in 2011 and slipped further to N9.0 billion in 2012. The downward slope however changed in 2013 with an advert income of N18.5 billion and rose to its peak in 2014, hitting N25.8. The figure went down by N2.1billion in 2015 when the newspapers received N23.7 billion.
mediaReach OMD explained that the newspapers tend to mostly attract their highest advert patronage in the second and third quarters, with exception of 2013 and 2014 which had their highest spending in the fourth quarters of the year.
In terms of regional spending in the last ten years, the split is between Lagos and North, with Lagos constantly attracting the dominant share of advert spending year after year. The product analysis however shows that Glo has consistently dominated the list of press advertising, rising steadily in the last three years to tie with Guaranty Trust Bank ahead of others while MTN currently occupies the third position.
But in terms of advertising expenditure across board, the TV medium consistently enjoyed the lion share of advert budget over the years. It is followed by the Out of Home (OOH) medium except for 2014 and 2015, when the print medium followed the leading TV medium. The newspapers had however experienced the highest growth rate in terms of advert spends especially in the last three years.
For total advertising expenditure, the year 2013 enjoyed the highest spending with N103.8 billion, representing a marginal increase over year 2011 spending of N 102.8 billion. There was a decline in 2014 as compared to the high spending in 2013.
The general economic outlook during the period under review showed a Gross Domestic Product, GDP estimated at 6.1 per cent in 2014, owing to continued strong performance mainly in services, but also in industry. The oil sector was in decline, albeit at a slower rate than in the previous year. Also in 2014, oil and gas GDP was estimated to have declined by 1.3 per cent, relative to a decline of 13.1 per cent in 2013.
Managing Director and Chief Executive Officer, mediaReach OMD, Mr. Tolu Ogunkoya, said: “Nigeria’s media is one of the most dynamic in Africa. Each of the 36 states has at least a TV station and one radio. There are hundreds of radio stations and terrestrial TV stations, as well as cable and direct-to-home satellite offerings.”
Not a few analysts however agree that the newspaper industry in Nigeria is caught in the web of great depression and recession. It has fallen victim to a combination of intertwined factors. The first is the tough economic environment, which has reduced advertising revenue, as well as the purchasing power of the reading public, and driven up the cost of production to an almost unmanageable level.
 With a foreign exchange regime that is unstable, and virtually every input required for production imported from abroad, or sourced locally at cut-throat prices, an average newspaper which used to cost almost nothing in the 70s, is now priced beyond the reach of many Nigerians.
The mediafacts Nigeria 10 Year Trend Review is a ten year longitudinal review and trend analyses of year on year mediafacts, with key insights into annual statistical performance and the dynamics of key players on critical indices of the media, advertising and marketing industry in Nigeria.
mediaReach OMD has since 2001 through its publication; mediafacts been given insights into the Media and Marketing industry of Nigeria, Ghana, West and Central Africa regions. It also provides marketing media professionals with evidence based information that has become a veritable tool for practitioners and companies to compete for market space in these markets.
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Africa’s Development Agenda Must Prioritise Job Creation, Inclusive Growth and Gender Diversity for Peace and Stability on the Continent”, Tony Elumelu Says at Dakar Forum

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L-R: Pierre Buyoya, former President of Burundi and representative of the African Union; H.E. Mohamed Ould Ghazouani, President of Mauritania; H.E. Macky Sall, President of Senegal, Florence Parly, Minister of Defence, France and Tony. O. Elumelu C.O.N, Founder, Tony Elumelu Foundation and Chairman, United Bank for Africa Group (UBA); at a high-level panel on Peace and Security in Africa at the Dakar International Forum on November 18, 2019

Tony. O. Elumelu C.O.N, Founder, Tony Elumelu Foundation (TEF) and Chairman, United Bank for Africa Group (UBA) proposed job creation for the youth, inclusive growth, and gender diversity as priority areas for Africa’s development agenda to achieve peace and stability on the continent.

He said this while speaking on a high-level panel with His Excellences Macky Sall, President of Senegal, and Mohamed Ould Ghazouani, President of Mauritania. Other speakers on the panel include Florence Parly, Defence Minister of France; and Pierre Buyoya former President of Burundi and representative of the African Union.

L-R: Pierre Buyoya, former President of Burundi and representative of the African Union; H.E. Mohamed Ould Ghazouani, President of Mauritania; H.E. Macky Sall, President of Senegal, Florence Parly, Minister of Defence, France and Tony. O. Elumelu C.O.N, Founder, Tony Elumelu Foundation and Chairman, United Bank for Africa Group (UBA); at a high-level panel on Peace and Security in Africa at the Dakar International Forum on November 18, 2019.

Mr. Elumelu stressed the urgency in tackling poverty, the root cause of extremism in Africa. He said: “We know, and we say, that poverty anywhere is a threat to mankind everywhere. What manifests itself in what we call security breakdown or terrorism, or extremism is actually deeply rooted in poverty, in joblessness So with due respect, we can have 101 seminars like this but unless and until we begin to address these issues of poverty, joblessness amongst our young ones, they will continue to allow themselves to be brainwashed by people who see no future, and they will continue to engage in extremism.”

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He emphasised that while it is no doubt important to discuss weaponry, and other means to deal with insurgency, a lasting peace can only be attained in the long run by investing in our young people across Africa.

H.E. Macky Sall acquiesced to the need for the public sector to collaborate with the private sector to tackle poverty on the continent. He said: “Addressing the threats cannot be done on a standalone basis due to the fact that the challenges know no borders”. He called for a more collaborative approach to alleviate violence and extremism to boost investments in Africa.

Mr. Elumelu cited the impact of the Tony Elumelu Foundation’s $100 million Entrepreneurship Programme as one of the practical ways the private sector in Africa can intervene to bring about peace and stability on the continent. Speaking further, he referenced the partnership between the United Nations Development Programme (UNDP) and the Tony Elumelu Foundation (TEF) to empower 100,000 young Africans in 10 years with a focus on the Sahel region for its first year. Also mentioning TEF partnerships with other international development agencies such as GIZ and ICRC, Mr. Elumelu reiterated that only “activities and interventions like this will help to bring economic hope to people in this part of the world and they will become less involved in extremism. We support these young ones and we are beginning to see how their successes are translated into better and more secure communities”.

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Mr. Elumelu pointed out that businesses cannot flourish where there is extremism and people are afraid for their lives. It will be even harder to attract the global private capital needed for large infrastructure projects and long-term investments which can help to fix our economy.

Mr. Elumelu ended his session on an optimistic note, calling on all stakeholders to collaborate to win the war on poverty and insecurity. “There is a lot we all can do – the private sector, government, and development partners – in making sure that we focus on winning the war on terrorism; that we make sure we stem the migration of our young people crossing the Mediterranean through harsh conditions, in search of hope, when indeed we have more opportunities and resources in our continent. We need to work together to ensure that extremism is totally annihilated in Africa. It is possible but we need to work together to achieve this.”

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Nigeria’s best artisans descend on Lagos for Africa’s biggest skills festival

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skills festival
iCreate Africa, organiser of the iCreate Africa Skills Festival, has said Nigeria’s best artisans will converge on Lagos from December 4 -5 to compete for laurels at the grand finale of the festival following the conclusion of the regional finals in Kaduna and Enugu.

The festival which is the biggest of its kind in Africa is in its second edition. Sponsored by Sterling Bank Plc, from inception, the festival also enjoys support from Bosch Nigeria Limited, GIZ, Trace TV, Siemens, Lagos State Employment Trust Fund (LSETF), and Universal Learn Direct Academia Limited (ULDA), among others.

Speaking at a press conference in Lagos recently, Chief Client Engagement Officer of Sterling Bank, Mr. Moronfolu Fasinro, said the bank is partnering with iCreate Africa to boost acquisition of technical skills because it is committed to solving the unemployment challenge among young people on the African continent.

He said the way to resolve the unemployment challenge going forward is through skills acquisition by young men and women rather than focusing on white-collar jobs, adding that "We know that youth employment is a key part of creating a society that is harmonious and productive."

Fasinro noted that vocational jobs are what move an economy in its day-to-day operations and Icreate was bringing various people together to work on how to change the narrative about the labour market.

“We are very happy to partner with iCreate to produce this sort of opportunity so that these people could change the face of employment on the continent in the future,” Fasinro said.

Also speaking, Chief Marketing Officer of Sterling Bank, Mr. Dapo Martins, said Nigeria needs to also focus on the export of skills instead of concentrating on the export of crude oil and agricultural products alone. He noted that most Nigerian graduates who travel abroad either find themselves washing plates in restaurants or doing other menial jobs.

He lamented the situation whereby skilled technicians are usually shipped in from outside the country because they are not available locally. 

Also speaking, Founder and Chief Executive Officer (CEO) of iCreate Africa Skills Festival, Mr. Bright Jaja, explained that it was clear to him at the beginning of the journey that the idea of the festival was different and unique, and would probably not make sense to a lot of people.

"But we were consistent because we understood the concept and background. Having done a thorough research on the employment situation in Nigeria, we realised that the only solution to the challenge was to rebrand jobs away from the existing perception and notion that if one is not a medical doctor, lawyer or an engineer, he has failed," he said.

Jaja noted that over time a lot of young people had to go through tertiary education under stress and depression even though they knew that the courses they were studying were not what they wanted or had interest to pursue.

The Founder/CEO said the objective of iCreate was to create five million jobs in five years by empowering about one million people who would, in turn, employ at least five people in their businesses.

He said the strategy is to rebrand the way society perceives vocational skills and get young people to be interested or attracted to what they have passion for in the overall interest of the economy.

Retail Marketing Manager of Bosch Nigeria Limited, Mr. Samson Ajayi, said the iCreate Skills Festival was pivotal to the company because it addressed a lot of structural issues in the Nigerian economy, adding that as an engineering company that makes mechanical parts, the festival provided a unique avenue for the company to contribute its quota to the Nigerian economy.

Also commenting, President of Universal Learn Direct Academia Limited (ULDA), Engineer Olawumi Gasper, said the company was very happy to work with iCreate and congratulated Mr. Jaja for inspiring young Nigerians to develop passion for skills acquisition.

The press conference was attended by other stakeholders including Trace TV, Fashion Academy, House of Tara, and Lagos State Employment Trust Fund (LSETF).
 
The iCreate Skills Festival is a platform that promotes skills excellence, showcases skills standards and careers, demonstrates benchmarks of excellence in teaching and learning and creates interest in public sector agencies and private organisations to invest in skills development.

The 10 winners from the first edition represented Nigeria in Russia in 2019. They include Otareh Alvin who won in the cooking category, Nejo Tolulope (graphics), Silas Adedoyin (web design), Patrick Obafemi (app development), Barnabas Kudi (robotics), Afolabi Caleb Kayode (art), Ms. Malissa Onojo (tailoring), Yusuf Abdullahi (barbing), Kingsley Ihejirika (hair dressing), Ms. Faiza Usman Adamu (make-up), Joshua Olalekan (carpentry), Oladoja Peter (tiling), Kumshuan Talgang (plumbing) and Prince Isitua (bricklaying).
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ILR Biz: Multi-Solution Business Application Launches In Nigeria

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LIR Biz

International Labour Reward (ILR), a company with a vested interest in Agriculture, Real Estate, Engineering Services, Telecommunication among others has launched a multi-solution business application in the Nigerian market.

The application known as ILR Biz was launched at an event held at Excellence Hotel, Ikeja, Lagos on Saturday, November 16, amidst commendations form industry stakeholders and guests in attendance.

Speaking at the launch of the application, Group Managing Director of ILR, Michael Olufemi, described the application as a multi-faceted reward platform that provides services such as E-commerce, Recharge Services, Loan, Send Money, Investment, Agro-Mart, Hire Purchase, Real Estate and several others.

LIR Biz

Michael Oluwafemi , the Group Managing Director, ILR Group of Companies

Olufemi also described the ILR Biz application as a global project being presented to the world to provide jobs for youths via the company through its vast interest in farm plantation, animal raising, all with the eventual aim of feeding its community by making food sell at a cheaper price for ILR members.

“ILR Biz is a multi-solution provider business hub with a seamless reward platform for registered members.

LIR Biz

“Members are rewarded through three different ways namely Registration Bonus, Transaction Bonus and Company’s Incentive Bonus. The registration bonus package comes from your team up from 1st generation to 16th generations. On this package, members continue to earn a bonus on members registration from 1st generation up to 16th generations of your team. The transactional bonus on its part, allows members to earn a bonus from every transaction that occurs in the system irrespective of location or country of transaction. Members can also get a bonus from the company via the excellency reward. Through this package, members are rewarded by the company at different generations. This reward system is also known as an Incentive bonus. Members get rewarded via token, and presently the value of the ILR token is shocking. Currently, one ILR token is equal to one thousand Naira, and it will appreciate,” he said.

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Explaining the reward system of ILR, Olufemi said: “ILR Token is a means of reward. Since Nigeria has a claim to Naira, Americans Dollar, and Britons the Pound Sterling, the ILR token is our currency, and when it is in your online wallet, it can also be transferred into a bank account and cashed via an ATM. The token can also be used on our e-commerce platform,” he added.

Olufemi also spoke about the current promotions of the company. According to him, registered members can apply for the inaugural company’s promotion package that includes a car award worth N2m, an all-expense-paid trip to Dubai and a cash reward, adding that interested agents can apply for the company’s POS to become their agent banker. Distancing the ILR from multilevel marketing, he said that although the ILR concept might have a semblance of the multi-level marketing, it is totally different, adding that it was more of a reward platform.

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“For instance, if you do your cable recharge or any other services using most online platforms, you are likely to be charged N100.00, but on the ILR Biz application, you will definitely get to pay lesser, and the good thing is that you still get to be rewarded. Asides from rewards, you also get to enjoy a lot of privileges, that is what is unique about this application”
With a presence in some African countries and Nigerian states, ILR expansion is explosively employing a large group of Nigerian youths.

With over 50 agents and a staff base of the same number, ILR is the biggest deal presently, as members continue to join, and benefit from the reward system.

To join the ILR family, you will have to register and activate your account with N 3, 000 and earn for life. For more information:

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