By Chinwendu Obienyi

The chief executive officer, Adspace.ng, Kunle Yakubu, has said the advertising sector could help to grow and develop the Nigerian economy as well as contribute tremendously to the gross domestic product (GDP).

Speaking to newsmen during the launch of the Adspace.ng in Lagos recently, Yakubu noted that the trend in the industry was changing and Nigeria ought to be part of the trend to boost GDP.

While describing Adspace.ng as an online platform that helps advertisers achieve more with less by providing a marketplace where they can find, negotiate and book advert spaces, he noted that the new brand was bridging the gap between media owners and advertisers.

He said the broad role that advertising had in the economy meant its economic impacts were far-reaching, while adding that it helps in generating economic activity through the production of services; supporting competition by providing customers with information about products; encouraging innovation by increasing the rewards to producing a successful brand; and providing significant funding sources for the provision of media services.

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“We are here to basically increase the market capitalization of the advertising industry which is also a good way for the country to generate revenue or contribute to the country’s GDP. We are also exposing Nigeria’s advertising to foreigners who want to have access to the market. We are looking at helping SMEs to run their advert campaigns too and once you have SMEs or start-ups growing at an incredible rate, this will in turn help to increase the GDP of the economy.

“Furthermore companies that are outside Nigeria will be able to come into Nigeria to invest which is also a good way of supporting the country’s growth and development via foreign direct investments,” Yakubu explained.

Corroborating him, the chief operating officer, Adspace.ng, Kehinde Olofintuyi, called for collaboration with industry stakeholders.

“There has to be collaboration with industry stakeholders which is why we are here as we are not in for competition as if there’s constant collaboration or engagement with stakeholders, then the sector can contribute its own quota to the country’s GDP.”