Admen express optimism over Q2 performance
Practitioners under the auspices of the Advertising Agencies Association of Nigeria, AAAN, have expressed optimism about a better performance in the advertising industry in the second quarter of 2019.
Speaking at a recent event in Lagos, The Managing Director, X3M Ideas, Steve Babaeko, pointed out that he sees growth in the advertising sector, adding that no sooner than the Federal Government start spending, it would have a ripple effect in the economy and that will also boost the ad spend in the industry.
Mr. Babaeko stressed that the Federal Government is the biggest spender as far as advertising is concerned, noting that he hopes to see growth after the inauguration of President Muhammadu Buhari for his second term in office.
In his words: “We are hoping that once the swearing in is done, the government can get back to business and start spending and by that happening, consumer spending power will also increase. As you know, government is still the largest spender in the economy and when that does happen, it affects the macroeconomic and, by extension, everyone else. We are expecting growth in the sector so to say.”
The Group Managing Director, Verdant Zeal Group, Tunji Olugbodi, expressed optimism in the same vein, advising practitioners to overcome the challenges of the industry and make the best use of their potentials to drive and project growth.
He said: “Well, I am in for optimism. I am a great optimist. I believe that the second quarter will be better than the first quarter and third quarter will be better than the first and second quarters.”
“I think what we should be focusing on is that despite the challenges from the government as well as those that are man-made around us, we should rise above them and prove that there is always something better that can come from us as advertising people.”
Meanwhile, the Managing Director, Noah’s Ark, Lanre Adisa, pointed out that there are a lot of advertising activities going on in the industry at the moment.
Mr. Adisa opined that should the trend continues, the industry and its practitioners are in for a good time and are likely to experience a boom in their various businesses.
“I don’t have any knowledge of what is going on in other spheres of the sector but I do know that the first quarter had its challenges because of the election. In the second quarter; a bit of activities are going on right now and we hope it would be sustained going forward,” he explained.
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