Practitioners under the aegis of the Media Independent Practitioners Association of Nigeria (MIPAN) have envisaged growth in the second quarter of 2019.
They argued that with the signing of the budget by President Muhammadu Buhari, there is hope that media spend will greatly improve in the second quarter when compared to the first quarter which was abysmally low.
The Vice President, MIPAN, Femi Adelusi, noted that practitioners in the industry were beginning to see changes in the way advertisers invest in the sector and the economy at large.
Mr. Adelusi added that investors were beginning to invest in the country because they now have confident in the government which will automatically trickle down to the IMC sector.
In his words: “We are beginning to see shifts and changes in investments from brands and I think that shows also that there is some level of confidence in the government.”
“There is some level of confidence in the advertisers in the sense that now they see a need to advertise. In quarter one, there was a lot of reservations about the elections and what might happen after but now there is increasing investments and I think that is positive. We will like to see this increase continue towards the end of year.”
Speaking in the same vein, Director, Buying & Control at MediaReach OMD Nigeria, Yinka Adebayo, stressed that he has great expectations that the second quarter will be better than the first quarter in terms of its performance.
Adebayo opined that he sees growth because at the moment brand owners have clear-cut direction on how to navigate the economy and decide on how they want to move forward because of the relative peace in the country.
He said: “We are looking at the second quarter with great expectation. The first quarter was not totally bad but we had a situation where most of the brands fade off and I think for me it was just the necessary assumption.”
“The assumption was that politicians were going to take over the airwaves but the airwaves were lying fallow. Now the second quarter is here and good enough the president has signed off the budget so I expect that brands will now have a clear direction on how to navigate the economy and decide on how they want to move forward.”
On his part, the Executive Secretary, MIPAN, Eki Adzufeh, stressed that things were getting better than they were in the first quarter of 2019.
Mr. Adzufeh added that most agencies are now creative and capable to deliver value addition to their clients by providing better solutions to solve their challenges.