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| President Bola Tinubu |
World Stage Limited’s President and CEO, Mr. Segun Adeleye, has urged Nigeria’s Federal Government to issue an executive order mandating corporate organizations to allocate 80% of their advertising budgets to local media outlets.
Adeleye made the bold proposal during his keynote address at the recent WorldStage Nigeria’s Macro-economic Outlook 2026 event in Lagos.
He highlighted the critical need for stronger synergy between local media and businesses to guarantee a steady stream of reliable economic and investment information.
The call comes amid supportive moves from the administration. President Bola Tinubu recently announced tariff cuts on media equipment imports, aiming to ease pressures on the struggling industry and bolster its growth.
“But with media houses now transforming to offer online products and services, the extent to which they will benefit from such tariffs cut may be very minimal,” Adeleye said.
According to him, the only reasonable revenue source in the industry is advertising, whose window has been closing over the years.
He offered another look into the Federal Government’s "Nigeria First" policy through the lens of the media sector and the local advertisers he said make profits in Nigeria but spend the bulk of their ad dollars on foreign media to look good.
“The policy can be explored to compel local businesses to prioritize the local media. This is important because many Nigerian blue chips spend millions of dollars to promote their businesses in foreign media with little regards for the local players,” he said.
“The way forward, I think, should be for President Bola Tinubu to issue an Executive Order mandating local firms to commit nothing less than 80 percent of their advertising budget to local media.”
He commended sponsors of the outlook, which include the Nigeria Liquefied Natural Gas (NLNG); Zenith Bank; NLNG; CBN; NNPC Limited; Linkage Assurance; and Fidelity Bank.
“I believe if most Nigerian firms can emulate NLNG in terms of social responsibility and commitment to local media, there will be no need of seeking for an Executive Order for them to do the needful,” he said.
The outlook reflected hopes, projections, optimism for Nigeria’s economy, with caution, according to its reviewer, Lagos Commissioner for Information Gbenga Omotoso.
Adeleye said a sequel to the outlook, Q1 2026 Report, will provide actionable insights for policymakers, businesses, and investors, informing strategies for growth and development.
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