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The Industry Summit 4.0: Stakeholders Urges Practitioners to Brace up for More Challenges
Stakeholders in the marketing profession have been urged by experts to prepare for a difficult time ahead in 2023.
This call was made at the just concluded The Industry Summit 4.0 with the theme: “how marketers should handle 2023″ recently in Lagos.
Speaking at the event, the chairman of the occasion who is also an authority in Nigeria’s marketing communications landscape and chairman of STB-McCann, Sir Steve Omojafor disclosed that, the outcome of 2023 election petitions and national population census (NPC) will impact how Marketers will handle 2023 and subsequent years, noting that, how positively or negatively, remains a matter of conjecture.
The marketing expert further stated that, “what we do know, however, is that the Marketing Communication Industry in Nigeria, will not be immune from both local and global trends.”
For example, he continued, “the World Bank in its Global Economic Prospects (January 2023) makes it clear that the pronounced weaknesses of the United States, Europe and China, which are described as ‘the world’s three major engines of growth, would have ‘adverse spillovers for emerging markets and developing economies.’
According to him, “this is not hard to understand, I am not an Economist, but it is safe to say that marketers should expect a bumpy ride in 2023. In Nigeria, for instance, when you throw in a mish-mash of the country’s low crude production, weak exports, the dynamics of the workplace and importantly, a budget deficit of N11.34trillion, derived from a projected total revenue of N10.49 trillion and total expenditure of N21.83 trillion, budgeted by the outgoing Buhari administration, it is easy to infer that the picture is far from rosy either for the country’s economy or, more strongly, for us in the Marketing Communication Industry.”
While presenting the first paper at the event entitled: “Turn Data to Action: How Marketers Can Rationalize & Drive Efficiencies with Intelligence”, keynote speaker, Tolu Ogunkoya, Regional Group Managing Director, OMD West and Central Africa {WeCA} who was represented by the Executive Director, media Reach OMD, Yinka Adebayo pointed out that, ”some say, Data is Oxygen, Data is life but, for us, data is blood, adding that data is needed to address the gaps in today’s dynamic environment / everchanging landscape.”
According to him, “big data is like teenage sex: everyone talks about it, nobody really knows how to do it, everyone thinks everyone else is doing it, so everyone claims they are doing it, to sum it, business is about having foresight, agility, scale and tenacity.”
“We should learn never to waste a crisis situation because crisis will always be the best platform for good managers to excel. Your ability to showcase your potential is when you are in deep situation. If everything is going on normally everybody will thrive but when the whirlwind is putting everybody aside and one decided to put in the creative cap at the end of the day you see opportunity.” He noted.
Speaking further he said: “For example, during the lockdown, when everybody went to sleep some people made the money they have never made before. That is a crisis situation, but rather than see the cup half empty they saw it as half full”.
Also, presenting the second paper entitled: “FMGC: Impact of government policy shift on the industry and the Consumer” the second keynote speaker, the Corporate Affairs and Sustainability Director, NBC, Ekuma Eze pointed out that, Nigeria’s Foreign Direct Investment (FDI) has declined steadily over the last five years.
He stressed that, “some may tend to attribute the declining FDI as stated to COVID-19 issues between 2019-2020. This is not entirely true because countries like India and China saw a rapid rise in FDI in the two years despite outbreak of the pandemic. Since the mid-2000s, China and India have seen FDI soar as both countries beat the poverty trap.”
According to him, the simple reason why China and India have continuously recorded rising FDI is their policy thrust that has placed emphasis on productivity and workforce quality. The two countries have set a national work ethos that has made their citizens among the most productive on the planet.
“I have tried to lay this foundation to underscore the importance of government policy in creating a favorable business environment for FMCGs. Public policy is the foundation for business creation, growth and overall economic prosperity. Public policy processes represent the fundamental processes of governance and development. I stress on development here because public policy should be about people’s needs and for their good. Therefore, the principles should be efficiency, effectiveness and responsiveness, consensus and adequate participation of the people in a transparent and accountable process.” He noted.
Continuing, he said that, Nigeria unfortunately has been largely plagued by policy inconsistencies, reversals and lack of coherence, noting that, between 1960-2000, real income per capita grew at only 0.43% per year.
He however, stated that 2001-2006, real per capita GDP grew at an annual rate of 4.2%. The difference between the two periods is simply due to policy choices.
The improved performance between 2001-2006 was owing to comprehensive economic reform program via the National Economic Empowerment and Development
“His words: “Strategy (NEEDS). NEEDS encompassed important structural reforms designed to enhance the transparency and accountability of public sector policies and institutions. It focused on improving the macroeconomic environment, pursuing structural reforms, strengthening public expenditure management, and implementing institutional and governance reforms. This resulted in real GDP growth averaging 7.1 percent per year between 2003 and 2006, an inflation rate of 10 percent in 2006, foreign exchange reserves of US$45 billion in 2006, and total external debt of only US$5 billion in 2006. An oil price-based fiscal rule was introduced in which government expenditure was based on a prudent oil price benchmark. Any revenues that accumulated above the reference prices were saved in a special excess crude account. Government budgeting was based on conservative oil prices of $25 per barrel in 2004, $30 per barrel in 2005, and $35 per barrel in 2006, despite higher realized prices of $38.3 and $54.2 in 2004 and 2005, respectively.”
For him, adoption of this rule ensured that government expenditures are de-linked from oil revenue earnings, thereby limiting the transmission of external shocks into the domestic economy. There was a marked improvement in the government’s fiscal balance, with the previous deficit of 3.5 percent of GDP in 2003 turning to consolidated surpluses of about 10 percent of GDP in 2004 and 11 percent of GDP in 2005.
Also, he stated that, “fast Moving Consumer Goods (FMCG) as it is broadly categorized, comprises of three major segments: Household care, personal care and food and beverages. FMCGs form the largest chunk of the manufacturing sector in Nigeria, which is the fourth largest sector of Nigeria’s economy, creating employment for over 3 million Nigerians.”
“The FMCG industry in Nigeria is worth about US$20 billion. In Q3, 2022 Nigeria’s Gross Domestic Product (GDP) grew by 2.25 per cent (year-on-year) in real terms, representing a 1.78 per cent decline compared to the 4.03 per cent growth recorded in Q3 2021, according to the National Bureau of Statistics (NBS). The manufacturing sector contributed 8.59 per cent to GDP, lower than 8.96 per cent in Q3 2021, as well as 8.65 per cent in Q2 2022.” He added.
He further disclosed that, the declining performance of the manufacturing sector according to the NBS data is indicative of the realities of the operating environment characterized by high lending rate, forex illiquidity, high energy cost and adverse effect.
In his opening remark, Goddie Ofose, convener of The Industry Summit stated that immediately the CBN governor announced the cash swap policy on November 2022, it was very certain that the first quarter of 2023 would be difficult for marketers.
According to him, “the theme encapsulate what has transpired in the first quarter of this year, therefore, the remainder of the year should be much easy if marketers have taken lessons from the happenings of first quarter.”
He also stressed that, “besides cashless policy challenge, general election and population census pose another huge challenge for the imc industry because during every election circle, the marketing vehicles which are media and it’s channels are usually being taken over by politicians. This makes very difficult for marketers to compete because politicians would always outspent brands during this time.”
“Brands are conscious of their adventure because new government usually come with new policies. It is my believe that the outcome of the summit would better put marketers in a good stead to manage their expectations in the remainder of the quarters in 2023.”
The Industry Summit is an annual event put together by The Industry Newspaper to promote marketing value and heritage in Nigeria. In recent times, it has become an avenue to encourage marketing practitioners to have first-hand information on marketing.
The summit which is in its fourth edition has recorded tremendous success in bridging the knowledge in Nigeria’s marketing landscape.
President Donald Trump has warned that the United States could carry out further military strikes in Nigeria if Christians continue to be killed, reigniting a sensitive debate over religious violence and foreign intervention in Africa’s most populous nation.
President Donald Trump
Trump made the remarks in an interview with The New York Times, published on Thursday, while responding to questions about a US military strike carried out in Nigeria on Christmas Day.
At the time, the US military said the operation targeted Islamic State militants in north-west Nigeria and was conducted at the request of the Nigerian government.
Nigeria, however, described the operation as a joint counterterrorism effort, stressing that it was aimed at armed groups designated as terrorists and “had nothing to do with a particular religion”.
“I’d love to make it a one-time strike,” Trump was quoted as saying. “But if they continue to kill Christians, it will be a many-time strike.”
Pressed on comments by his own Africa adviser that extremist groups such as Islamic State and Boko Haram have killed more Muslims than Christians in Nigeria, Trump acknowledged that Muslims were also victims but insisted that Christians were being targeted disproportionately.
“I think that Muslims are being killed also in Nigeria. But it’s mostly Christians,” he said.
Trump has repeatedly raised alarms about the safety of Christians in Nigeria, beginning in late October when he warned that Christianity faced what he described as an “existential threat” in the country. He has accused Nigerian authorities of failing to adequately protect Christian communities and has openly threatened US military intervention if the violence continues.
Nigeria has firmly rejected claims of systematic persecution of Christians. The government maintains that the country’s security challenges are complex and largely driven by insurgency, banditry and criminal violence rather than religious targeting.
With a population of more than 230 million people, Nigeria is almost evenly divided between Christians, who are concentrated mainly in the south, and Muslims, who predominate in the north. Islamist insurgencies, particularly Boko Haram and its offshoots, have plagued parts of northern Nigeria for more than a decade, killing thousands and displacing millions.
Nigerian authorities have repeatedly pointed out that militant attacks have claimed the lives of both Muslims and Christians, arguing that framing the violence along religious lines oversimplifies the crisis and risks inflaming tensions.
Following Trump’s earlier threats, the Nigerian government said it was willing to continue cooperating with Washington in combating terrorism but rejected language suggesting that Christians alone were under threat.
The latest comments are likely to strain diplomatic relations further, as Nigeria balances its partnership with the United States against concerns over sovereignty, security cooperation and the portrayal of its internal conflicts on the global stage.
OpenAI maker of ChatGPT is rolling out a health-focused feature to the generative artificial intelligence (AI) tool that’s used by nearly a billion users.
Named ChatGPT Health, the new feature aims to provide users with health and wellness information. This, as health is one of the most common ways people use ChatGPT, according to OpenAI.
In a blog post, Microsoft-backed OpenAI says de-identified analysis of conversations show that over 230 million people globally ask health and wellness-related questions on ChatGPT every week.
ChatGPT Health will also “securely” connect medical records and wellness apps to ground conversations with a user’s own health information, making responses more relevant and useful.
“Designed in close collaboration with physicians, ChatGPT Health helps people take a more active role in understanding and managing their health and wellness – while supporting, not replacing, care from clinicians.”
According to OpenAI, health information is often scattered across portals, apps, wearables, PDFs, and medical notes making it hard to see the full picture, and people are left to navigate a complex healthcare system on their own.
“ChatGPT Health builds on these so responses are informed by your health information and context. You can now securely connect medical records and wellness apps – like Apple Health, Function, and MyFitnessPal – so ChatGPT can help you understand recent test results, prepare for appointments with your doctor, get advice on how to approach your diet and workout routine, or understand the trade-offs of different insurance options based on your healthcare patterns.”
According to the company, ChatGPT Health is designed to support, not replace, medical care, adding that it is not intended for diagnosis or treatment. “Instead, it helps you navigate everyday questions and understand patterns over time – not just moments of illness – so you can feel more informed and prepared for important medical conversations.
“To keep your health information protected and secure, Health operates as a separate space with enhanced privacy to protect sensitive data. Conversations in Health are not used to train our foundation models. If you start a health-related conversation in ChatGPT, we’ll suggest moving into Health for these additional protections.”
OpenAI adds that access to ChatGPT Health has started with a small group of early users to learn and continue refining the experience, adding that users with ChatGPT Free, Go, Plus, and Pro plans outside of the European Economic Area, Switzerland, and the UK are eligible.
“As we make improvements, we plan to expand access and make Health available to all users on web and iOS in the coming weeks.
“Medical record integrations and some apps are available in the US only, and connecting Apple Health requires iOS.”
Kaspersky experts outline how the rapid development of AI is reshaping the cybersecurity landscape in 2026, both for individual users and for businesses. Large language models (LLMs) are influencing defensive capabilities while simultaneously expanding opportunities for threat actors.
Deepfakes are becoming a mainstream technology, and awareness will continue to grow. Companies are increasingly discussing the risks of synthetic content and training employees to reduce the likelihood of falling victim to it. As the volume of deepfakes grows, so does the range of formats in which they appear.
At the same time, awareness is rising not only within organisations but also among regular users: end consumers encounter fake content more often and better understand the nature of such threats. As a result, deepfakes are becoming a stable element of the security agenda, requiring a systematic approach to training and internal policies.
Deepfake quality will improve through better audio and a lowering barrier to entry. The visual quality of deepfakes is already high, while realistic audio remains the main area for future growth.
At the same time, content generation tools are becoming easier to use: even non-experts can now create a mid-quality deepfake in just a few clicks. As a result, the average quality continues to rise, creation becomes accessible to a far broader audience, and these capabilities will inevitably continue to be leveraged by cybercriminals.
Online deepfakes will continue to evolve but remain tools for advanced users. Real-time face and voice swapping technologies are improving, but their setup still requires more advanced technical skills. Wide adoption is unlikely, yet the risks in targeted scenarios will grow: increasing realism and the ability to manipulate video through virtual cameras make such attacks more convincing.
Efforts to develop a reliable system for labelling AI-generated content will continue. There are still no unified criteria for reliably identifying synthetic content, and current labels are easy to bypass or remove, especially when working with open-source models. For this reason, new technical and regulatory initiatives aimed at addressing the problem are likely to emerge.
Open-weight models will approach top closed models in many cybersecurity-related tasks, which create more opportunities for misuse. Closed models still offer stricter control mechanisms and safeguards, limiting abuse.
However, open-source systems are rapidly catching up in functionality and circulate without comparable restrictions. This blurs the difference between proprietary models and open-source models both of which can be used efficiently for undesired or malicious purposes.
The line between legitimate and fraudulent AI-generated content will become increasingly blurred. AI can already produce well-crafted scam emails, convincing visual identities, and high-quality phishing pages.
At the same time, major brands are adopting synthetic materials in advertising, making AI-generated content look familiar and visually “normal.” As a result, distinguishing real from fake will become even more challenging, both for users and for automated detection systems.
AI will become a cross-chain tool in cyberattacks and be used across most stages of the kill chain. Threat actors already employ LLMs to write code, build infrastructure, and automate operational tasks.
Further advances will reinforce this trend: AI will increasingly support multiple stages of an attack, from preparation and communication to assembling malicious components, probing for vulnerabilities and deploying tools. Attackers will also work to hide signs of AI involvement, making such operations harder to analyse.
“While AI tools are being used in cyberattacks, they are also becoming a more common tool in security analysis and influence how SOC teams work. Agent-based systems will be able to continuously scan infrastructure, identify vulnerabilities, and gather contextual information for investigations, reducing the amount of manual routine work.
“As a result, specialists will shift from manually searching for data to making decisions based on already-prepared context. In parallel, security tools will transition to natural-language interfaces, enabling prompts instead of complex technical queries,” adds Vladislav Tushkanov, Research Development Group Manager at Kaspersky.
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