Association of Advertising Agencies of Nigeria, AAAN has disclosed that advertising expenditure for 2013 has grown to N125 billion from N91 billion which it was in 2012. They explained that the figure represents advertising spend from the organized private sector alone.
The Association said that the Nigeria’s economy can do better if sectors like power, Agric, Tourism and ICT operate at their full potential; thus giving the advertising industry its positioned expected growth.
According to the association the above figure was generated in 2013 from Television ads which amounted to N66,250billion, Radio N22,500billion, Outdoor N23,750billion and the press N23,500billion which all came to N125,000 billion.
The Chairman of the Association’s business analysis committee projected that political campaigns in 2014 will greatly increase advertising, while the telecom and banking sectors are expected to increase over the last year’s figure.
The association went on to project that the business outlook for 2014 portends some potential growth for practitioners and ad agencies.