Broadcasting
Make no Mistake, Digital Advertising has a Significant Role to Play in Nigeria’s Economy
By Steven Edge; Ad Dynamo by Aleph COO
Ask most people what they think drives Nigeria’s economy and they’ll probably say oil. However, while oil still accounts for a large proportion of the country’s international revenues, its actual role in Africa’s largest economy is increasingly small.
In fact, oil now accounts for just over 6% of Nigeria’s GDP, with technology now playing a much bigger role. This shouldn’t come as that much of a surprise, Nigeria has a robust and competitive telecommunications space, and is home to many of the continent’s technology unicorns (start-ups with valuations in excess of US$1 billion).
Technology is however not a single-edged sword, it has other roles to play in the economy as well. Take the country’s booming fintech sector, for example. Of Africa’s seven unicorns, most operate in the fintech space, and five are Nigerian. Those fintech’s have also helped bring businesses online by making payments simpler and more efficient. As a result, as connectivity becomes cheaper and more ubiquitous, technology has intertwined itself with many significant aspects of the economy, including advertising.
In fact, digital advertising, which is today worth $179.20 million, is set to play an increasingly significant role going forward. That’s true not just for the country’s advertising sector, but also for the economy as a whole.
Primed for growth
In order to understand how influential digital advertising will be on the Nigerian economy, it’s important to provide some context surrounding exactly how primed the digital industry is for growth.
At present, there are around 109 million active internet users in Nigeria, that’s already a significant market for online advertisers, but this still only represents 51% of the total population. Thus, that number will only keep growing. In fact, it’s estimated that an additional 35 million Nigerians will come online by 2026. For context, that’s equivalent to the whole of Angola, for example, coming online in just four years. Not to mention, these internet users will also have increasingly high-quality connections. According to data from the Nigerian Communications Commission, the number of Nigerians with access to high-speed broadband internet grew 108.39% between March 2018 and March 2022.
Based purely on the maxim that advertisers need to be where their customers are, this is the kind of growth that simply cannot afford to be ignored.
Narrowing in and expanding beyond borders
When it comes to economic growth, however, it’s important to remember that digital advertising offers advantages that go significantly beyond reach and numbers. More so than any other form of marketing, digital advertising allows businesses to target people with highly personalised messages, catering to their individual needs.
With the right approach, businesses are therefore able to extract maximum value from any ad spend, enabling them to expand and grow, and this is not only the case for domestic growth either. With the right amount of platform related investments, including the likes of Facebook, Twitter, Instagram, Snapchat, TikTok, LinkedIn, and Spotify, Nigerian businesses can propel their products and services to the next level, into new markets, and beyond country borders.
Besides, the ability to bring in external revenue will only serve to further catalyse growth in the economy, and as the world slowly weans itself off oil, these foreign revenues will become more important. Thus, digital advertising will become critical to enabling growth.
Leveraging the necessary skills
Finally, it’s worth mentioning that the digital skills needed for a robust digital advertising market will also have a positive knock-on effect for the Nigerian economy. With initiatives like Aleph’s Digital Ad Expert Academy, more people are learning how to professionally navigate the online space, and therefore the number of people who understand not only the power of platform investments, but also the necessity of it, will increase. It’s an extremely symbiotic and interesting ecosystem that’s developing at a really high pace.
With a growing number of financial options, improved digital access, and available education initiatives people are becoming more digitally savvy than ever before. As a result, when reaching the stage of employment, they already have a strong entrenched appreciation of platform advertising for businesses, thus increasing investments, leading to yet further economic growth, and so the cycle restarts and continues.
Moreover, the professionals equipped with these skills will not only be able to guide domestic businesses through their digital marketing transformations, but also to become significant players on the global digital stage. Some may even go a step further, using these digital marketing skills as a jumping-off point for exploring other digital technologies. From there, they can put themselves in a good position to help foster the next wave of Nigerian digital innovation.
Embracing a digital future
It is therefore undeniable that digital advertising has a significant role to play in the Nigerian economy, both in helping businesses to grow, as well as driving additional expansion and innovation. But, in order for it to have the maximum impact, it’s critical that this process is fully embraced by all, and that businesses partner with industry experts who understand how to help them reach the right audiences, on the right platforms, at the right time.
Broadcasting
NBC Files Fresh Appeal against Judgment Barring it from Imposing Fines on Broadcast Stations
National Broadcasting Commission (NBC) has filed an application seeking the permission of the court of appeal to file a fresh appeal against the judgement of the federal high court in Abuja barring it from imposing fines on erring broadcast stations.
In the application filed at the court of appeal in Abuja by Dapo Akinosun, counsel to the NBC, the commission argued sanity in Nigeria’s broadcasting sector is under threat and that the public interest would be better served if the court grants the application.
On January 17, 2024, Rita Ofili-Ajumogobia, a judge at the federal high court in Abuja, restrained the NBC from imposing a N5 million fine on broadcast stations sanctioned in 2022 over allegations of “undermining Nigeria’s national security by broadcasting documentaries on banditry in Nigeria”.
The affected broadcast stations were Multichoice Nigeria Limited, owners of DSTV; TelCom Satellite Limited (TSTV); Trust-TV Network Limited; and NTA StarTimes Limited.
The suit was filed by Media Rights Agenda (MRA).
Dissatisfied with the ruling, the NBC appealed the judgement filed an appeal at the court of appeal in Abuja.
In June, the court of appeal dismissed the commission’s appeal, holding that it was “fundamentally defective” and incompetent.
Jane Inyang, lead judge of the panel, held that the parties before the lower court were identified as “Incorporated Trustees of Media Rights Agenda (as applicant) and National Broadcasting Commission (as respondent)” but in the notice of appeal the purported appellant was described as the “Nigerian Broadcasting Commission”,
The judge held that the discrepancy was significant and that the court lacked jurisdiction to entertain the commission’s appeal.
In the application, the NBC urged the court to grant it leave to raise and argue a fresh issue on appeal relating to the legal capacity of MRA to institute and maintain the original suit before the lower court.
The commission argued that the defect in the earlier notice of appeal, which resulted in the dismissal of its appeal, arose “solely from an inadvertent misdescription” of its name by its lawyer.
The NBC told the court that the subsisting judgement raises questions on the commission’s statutory powers to regulate broadcasting and enforce compliance with broadcasting standards in Nigeria.
The commission argued that the subsisting judgment is capable of creating uncertainty regarding its regulatory powers if it is allowed to stand.
The NBC also argued that without the pronouncement by the appellate court on the issues raised in the appeal, its regulatory framework would be weakened.
“A weakened regulatory framework may embolden non-compliance with established broadcasting standards, thereby increasing the dissemination of false, misleading and unverified information capable of causing unnecessary public anxiety, panic and social unrest,” the NBC said.
“Absence of effective regulatory oversight may further encourage irresponsible broadcasting practices and the misuse of broadcast and digital media platforms by persons who deliberately publish sensational, inaccurate or inflammatory content to intimidate, harass or unduly influence individuals, institutions and public discourse.”
David Adedeji Adeleke, known professionally as Davido, has shared his past suicidal thoughts as he dropped Oriadé, his sixth studio album yesterday.
Davido
Davido said he chose the date on purpose as it marks exactly 15 years since he began his professional music career.
Oriadé is a Yoruba word combining “Ori,” meaning destiny, and “Adé,” meaning crown.
It translates to “the crowned head.” The album has 13 tracks and features Black Sherif, Aya Nakamura, Leon Thomas, Mayorkun, and Llona.
It follows his 2025 project, 5ive, which reached number two on the Billboard World Albums chart.
Davido also announced an international tour to support the new record.
In the days leading up to the release, Davido gave interviews that revealed personal details about his past and his current life.
Speaking to Vibe Magazine on Thursday, he described a 2014 incident in Ghana that left him feeling suicidal.
He said he invited a woman back to his hotel room after a show, and she later posted a photo of him sleeping online.
He said the fallout overwhelmed him.
“My daddy was calling me. My sisters were calling me. If I saw the balcony that day, I would have jumped,” he said.
He said he was young at the time and did not fully understand the consequences of his actions.
He described the experience as a turning point that changed how he thinks about privacy and fame.
In the same interview, he explained why he often dresses down in public despite his wealth.
He recalled a trip to the South of France where he went out in shorts and slippers without his watch.
“I’ve been on jets, I’ve been flying, I’ve been in all these places since I was a baby. I’ve been seeing money since I was a baby. So all these things don’t really excite me,” he said.
He added that he sometimes prefers to drive a Toyota to the supermarket in Atlanta instead of one of his luxury cars.
In a separate livestream with Davrel, Davido spoke about how his life has changed since marrying his wife, Chioma, and becoming a father.
He said his home no longer holds the large crowds it once did.
“I can no longer have 100 people in my house like before,” he said.
He said he speaks to Chioma every day regardless of his schedule.
He also disclosed that he spends between $200,000 and $300,000 a month on himself, not including costs for his wife, children, jewelry and cars.
He said the amount is lower when he is in the United States, where he described his lifestyle as quieter.
Africa Prudential Plc has reaffirmed its commitment to digital transformation, revenue diversification and sustainable growth after reporting a strong financial performance for the first half of 2026.
Dr Catherine Nwosu
The company made this known during its H1 2026 Investor Call, which brought together institutional investors, shareholders, investment analysts, regulators and other stakeholders to review its financial performance and strategic outlook.
Dr Catherine Nwosu, managing director and Chief Executive Officer of Africa Prudential, said the company’s performance reflected the resilience of its business model and the effectiveness of its long-term growth strategy despite prevailing macroeconomic challenges.
According to the company’s financial results, gross earnings rose by 27 per cent year-on-year to N4.28 billion, from N3.34 billion recorded in the corresponding period of 2025.
Profit before tax increased by 22 per cent to N2.41 billion, while profit after tax grew by 18 per cent to N1.59 billion.
The company also reported a 27 per cent rise in net operating income to N4.21 billion, while total assets increased by 13 per cent to N46.53 billion.
Shareholders’ funds equally rose by 13 per cent to N12.52 billion, reflecting continued financial strength.
Management attributed the performance to sustained growth in its core registrar business, increased corporate action activities in the Nigerian capital market, improved treasury earnings and rising adoption of its technology-driven solutions.
The company said it was steadily transforming from a traditional share registrar into a broader technology and business solutions provider serving Nigeria’s capital market ecosystem.
During the interactive session, investors sought clarification on the sustainability of earnings, particularly as interest rates are expected to moderate.
Responding, Nwosu said the company was deliberately expanding its recurring fee-based revenue streams to reduce dependence on treasury income.
“Interest rates influence our treasury income positively, but that is why we are deliberately diversifying our revenue streams.
“Our strategy is to grow recurring fee-based business lines such as our digital solutions, Know Your Customer (KYC) services, Annual General Meeting (AGM) technology, probate services and the SabiVest mobile app.
“Over time, this will reduce our reliance on interest income and create a more balanced and resilient earnings mix,” she said.
Nwosu noted that increasing capital market activities had created stronger demand for seamless digital investor experiences, improved operational efficiency and enhanced compliance solutions.
She said the company would continue investing in technology-enabled products capable of delivering long-term value to shareholders while strengthening its competitive position.
According to her, Africa Prudential has identified five strategic priorities for the second half of 2026.
The priorities include driving sustainable growth across its core registrar and emerging business lines, accelerating technology-led product innovation, strengthening brand leadership, investing in talent development and deepening corporate governance.
She said the investor engagement demonstrated the company’s commitment to transparency, accountability and regular engagement with shareholders and the investment community.
Africa Prudential reaffirmed its commitment to leveraging innovation, operational excellence and sound financial management to sustain growth and strengthen its leadership position in Nigeria’s capital market.
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