Monthly Newsletter November 2023
My dear colleagues,
It has been an interesting and eventful ten months in the year 2023 for our association; and on
behalf of the EXCO, I welcome us all to the month of November 2023.
We have continued to witness a situation where weakened economic fundamentals have led
the country to persistent inflation as high as 26%. This has affected purchasing power as well as
marketing spend by businesses with uncertainties as a result of the effect of government
policies. With the controversy over the outcome of the 2023 elections now laid to rest by the
Supreme Court, we expect the government to settle down to the business of stabilizing the
economy and making the business environment more conducive.
According to Earl Nightingale “Never give up on a dream just because of the time…The time
will pass away”. Let us continue to challenge ourselves to offer the best experiential marketing solutions to our clients.
As we begin the Month of November, we wish to give account of the major activities that took place in October.
Stanbic IBTC Concession Agreement
In the month under review, EXMAN was able to onboard forty-one (41) member agencies to
the agreement, achieving the required 80% member agencies requested by the bank. The
EXMAN agencies that have signed on to this agreement are already being contacted and being
processed to access this facility.
Letters have been dispatched to some tertiary institutions to partner with them to ensure that
students are adequately informed about the experiential marketing space and the possibility of
making experiential marketing part of their curriculum. The University of Lagos have expressed
interest in the partnership with EXMAN on this. Engagement is expected to commence with the
University in the second semester (after the Christmas and New Year holidays). We always look
forward to avenues to engage our youths, to mentor and grow the young minds towards a
Other Universities are University of Ilorin, Ojaja University, Ilorin and the Pan Atlantic University
Lekki Lagos. We are following up with them accordingly.
EXCO Meeting with ADVAN
On Thursday October 19, 2023, the EXCO of EXMAN paid a courtesy visit to the Executives of
Advertisers Association of Nigeria (ADVAN) in their Opebi office. The reason of the visit is to
foster cordial relationship with the Advertisers Association and continue dialogue with the aim
of strengthening the marketing eco-system in Nigeria, towards achieving our common goals
EXMAN EXCO members were well received and a major takeout from the discussions included,
closer interaction between member Agencies and ADVAN to ensure profitable and result oriented strategic partnership as well as adherence to payment terms.
GDP Multiplier Study Meeting
Also on October 19, 2023, a virtual meeting was held on GDP multiplier study. The meeting was
attended by twenty (20) agencies.
The Meeting was held to consolidate agencies financial data, aimed at demonstrating the
experiential marketing sectors valuable contributions to the GDP and the Nigerian economy.
The study is to be carried out by PriceWaterhouseCoopers International Limited (PWC), seeking
to highlight great benefits for member agencies of EXMAN and to the nation as a whole.
The GDP Multiplier Committee is made up of other sectorial bodies within the Marketing
Communications Industry charged with the responsibility of determining the economic
contribution of the industry to the Nigerian Economy and the correct GDP multiplier index to
Mr. Soji Odedina of First Katalyst is representing EXMAN as a member of the GDP Multiplier
Study Committee for ARCON.
Re – appointment of Dr. Lekan Fadolapo as ARCON Director General
In the month under review, Dr. Lekan Fadolapo was re – appointed Director General of the
Advertising Regulatory Council of Nigeria by President Bola Ahmed Tinubu.
EXMAN have congratulated him on his re – appointment and look forward to many more years
of sustained growth, collaboration and support.
Year 2023, undoubtedly, has been a difficult year generally, but as we approach the end of the
year, we should focus on ending the year strong and entering the New Year stronger.
Long live EXMAN and God’s blessing.
Ndanusa David Amihere