ARCON Defends Reforms Against ADVAN's Misleading Claims

The Advertising Regulatory Council of Nigeria (ARCON), led by Director Dr. Olalekan Fadolapo, has formally responded to an open letter from the Advertisers Association of Nigeria (ADVAN), describing it as misleading.

The letter was addressed to President Bola Ahmed Tinubu and raised concerns about ARCON's reforms. ARCON stated that its reform agenda aligns with the federal government's policies aimed at revitalizing the advertising sector, promoting local talent, and ensuring that advertising revenue circulates within Nigeria's economy.

The council also addressed concerns regarding its credit policy and payment thresholds, which have been linked to long-standing media debts affecting agencies. ARCON introduced a 45-day payment cycle to align with global best practices.

Additionally, the council challenged ADVAN to provide verifiable data to support claims of declining advertising investments, citing independent research from PricewaterhouseCoopers indicating growth in the advertising industry.