By Victoria Ojeme
THE Director-General of the Advertising Regulators Council of Nigeria (ARCON), Dr. Olalekan Fadolapo, has hinted that the sector is set to create more value in the Nigeria’s marketing industry to engender good governance and economic growth.
Speaking at the 2023 Annual Conference of the National Institute of Marketing of Nigeria (NIMN), Fadolapo emphasized the crucial role of marketing and ethics in nation building.
At the conference, held under the theme: “The Role of Marketing and Ethics in Nation Building,” Fadolapo emphasized the need for marketing activities to adhere to core ethical principles to enhance Nigeria’s marketing economy.
He stressed the importance of establishing enforceable standards of practice that provide acceptable industry-wide rules of engagement. Such standards, according to him, would ensure that the interests of various sectors within the industry are safeguarded, as a failure in one sector could potentially have catastrophic consequences for others.
Fadolapo encouraged the Nigerian marketing industry to support a series of reforms aimed at promoting responsible marketing practices.
He noted the efforts of NIMN in consistent shaping of the quality of marketing in the country.
He recognized NIMN’s valuable contributions to the growth of Nigeria’s economy and emphasized the pivotal role of marketing in the development and sustainability of economic progress.
In a paper titled: “The Roles of Marketing Communication and Ethics in Nation Building” Lolu Akinwunmi, the Group CEO, Prima Garnet Africa and past chairman, Advertising Regulators Council of Nigeria, said the Nigerian economy has continued to face significant challenges.
He stated: “Efforts that must diversify the economy, improve infrastructure, promote good governance and address especially youth unemployment are crucial for sustained and inclusive economic growth. While the nation possesses immense potential with our vast resources, human capital, and entrepreneurial spirit, continued reforms and strategic policies are necessary to unlock this potential and drive the country towards a more prosperous future,”
Source: Vanguard