Marketing communications professionals across Nigeria are expressing strong confidence in advertising spend recovery for 2026, citing macroeconomic stabilization, forex appreciation, and the return of brands to active marketing after years of economic turbulence.

 

In an interview with senior executives shared projections that reflect cautious optimism grounded in improving economic indicators, including declining inflation, strengthening foreign reserves, and renewed brand investment appetite.

Economic Resilience Drives Brand Comeback

Yinka Adebayo, Group Executive Director at Omnicom, West and Central Africa, reflecting on the challenges of recent years, emphasized Nigeria’s remarkable resilience in the face of economic pressures.

“The last few years have been so challenging. Forex going off the roof, debts escalating. I tell people that not all briefs can be briefed. Even the clients are struggling with the kind of challenges they are facing because no one ever envisaged that the dollar will jump to N1,900.”

Despite these challenges, Adebayo highlighted Nigeria’s characteristic adaptability. “But the truth of the matter is Nigeria is so resilient that we are still surviving.

We are seeing that there is something working for us in this country. The good thing is that there is some level of stability with respect to forex, and so most companies now are able to look ahead, plan ahead, all of that.”

He noted a marked increase in advertising activity during the last quarter of 2025. “With that approach right now, you find out that a couple of companies are coming back to marketing.

Surprisingly, this year, during this last quarter, you can see the number of ads out there, all over the place. More brands are beginning to advertise because they realize that during December, Nigerians are highly mobile, highly agile, and they are going to be moving around. So the brands are now making efforts and realizing the importance that they need to be in consumers’ faces.”

Looking to 2026, Adebayo projected sustained growth. “That means I expect that for next year, if we are able to maintain this level of stability in terms of billings, in terms of activities, in terms of even brands now beginning to see the need, those who pushed their legs off the pedal will come in with full force next year.

We are likely to see an upward trend in terms of billings, and even brands are now beginning to see the need that the kind of generation they want to talk to are only connecting with the brands they see.”

Nigeria’s foreign reserves have shown remarkable recovery, reaching $45 billion in December 2025, the highest level in six years. This represents a significant improvement from the nearly $31 billion level recorded in 2024, providing the Central Bank of Nigeria with stronger capacity to manage exchange rate pressures and maintain relative stability in the forex market.

Data Driven Optimism and Economic Progress

Dr. Femi Adelusi, Founder and Group Chief Executive Officer of BrandEye, grounded his optimism in concrete economic data and policy developments.

“For 2026, beyond just being optimistic based on data, based on the economic information that we have today, and also when you listen to the presentation by PwC, there’s a lot of bright lines.

When you look at our foreign reserve, you look at the dropping exchange rates, inflation coming down, of course, there’s still a long way to go for some of these indicators, but we’re making progress.”

He emphasized the role of technology in scaling the industry’s impact. “I think with technology and the way we are exploring how we can bring in technology into our practice, it will only help us to scale.

It will only help us to achieve that N1 trillion GDP growth. I think we’re far behind in terms of our capability as a country, and there’s a way in which we can accelerate in building our economy. The role that we as professionals in the marketing industry play and how we can impact on that is very, very significant.”

Dr. Adelusi called for industry alignment with national economic objectives. “So I think we should look forward to 2026 with a lot of optimism, and we’re ready to make the changes that we need to make, to open ourselves up for what our nation requires, align our values, our vision with what our nation is also striving for, and stay positive in moving this country forward to that place that we all want to be very proud of.”

Nigeria’s inflation rate has shown consistent moderation, dropping to 14.45% in November 2025, the lowest since October 2020, marking the eighth consecutive month of declining price growth.

This represents a dramatic improvement from the peak levels experienced in 2024. The Manufacturers Association of Nigeria projects inflation will further moderate to 14% in 2026, supported by easing food prices, stable energy costs, and naira appreciation.

The country’s economic growth has maintained positive momentum, with GDP expanding by 3.9% year on year in the first half of 2025, up from 3.5% in the same period of 2024. Growth has been driven by strong performance in services and non oil industries, alongside improvements in oil production and agriculture.

Government Support and Economic Accommodation

Soji Adeyinka, CEO of Brandyard Media, expressed confidence in government efforts to create a more conducive business environment. “Come 2026, with the business plan we are projecting, we are projecting that the economy will be more accommodating.

The government will ensure that the playground in Nigeria can be a social ground for businesses to thrive.”

For 2026, the combination of macroeconomic stabilization, government policy support, technology adoption, and pent up brand demand creates conditions favorable for advertising spend recovery.

While challenges remain, particularly around sustaining inflation moderation and maintaining forex stability, industry leaders express confidence that Nigeria’s characteristic resilience will continue to drive progress.