Total local television advertising expenditure in Nigeria last year was put at N47 billion.
First quarter spend was N13 billion, second quarter N13.4 billion, third quarter N11.3 billion, and fourth quarter N9.3 billion, according to figures compiled by Media Monitoring Service.
Besides, brands such as Zenith Bank, MTN, Globacom, UBA, Heineken, Guaranty Trust Bank, Star beer, Etisalat, Airtel, Dangote Group, and Samsung have explored the international media to reach a wider audience.
Even newspapers, such as New Telegraph and The Sun, have deployed foreign media platform to send out their messages.
International broadcasters being used include CNN, Al Jazeera, BBC, and CCTV. Online versions of newspapers patronised include The New York Times and The Washington Post.
However, ego is one of the reasons for the foray.
A media management expert, Reuben Okeke, argued that international and local television stations are platforms that brands use to reach specific audiences; so, it does not matter whether it is foreign or local as long as the purpose for which the money is spent is achieved.
Competition is also named as a factor. There was a time many Nigerian banks were sponsoring programmes on CNN.
While the banks are beating back, Dangote Industries, one of Africa’s largest business conglomerates, has joined the trend by sponsoring ‘Facetime’ on CNN Marketplace Africa, which showcases businesses on the continent.
A bespoke multi-media Dangote campaign on the channel began on Friday, September 19, highlighting its expansion across the continent and beyond.
‘Facetime’ is a high-profile segment where each week a major player from the continent’s business community is interviewed.
CNN Marketplace Africa is the destination for access to movers and shakers at the forefront of African business. It gets behind the numbers to present new business solutions and trends redefining African business.
On-air content is complemented by online editorial at a CNN Marketplace Africa microsite, where popular and innovative content is shared across a range of social channels.
“We are delighted that Dangote Industries Limited is working with CNN to promote its brand internationally in a TV sponsorship across all CNN International global feeds,” said Antonio Canto, Vice President, Regional Ad Sales (EMEA), CNN International.
‘Facetime’ is an important programming strand to be associated with because the content reflects the dynamic nature of African business. Dangote’s expansion, underpinned by this campaign on CNN, is a brand-builder for African business as a whole.”
Dangote Group President/Chief Executive Officer, Aliko Dangote, said Africa has made tremendous economic progress in the last decade and is one of the fastest growing regions in the world, home to six of the top 10 fastest growing global economies.
“Africa also offers one of the highest rates of return on investment in the world, a fact that discerning foreign investors have since acknowledged.
Indeed, Africa has turned the corner and is now catching up with the rest of the world in the race for development,” he stressed.
He said Dangote Industries is delighted to sponsor ‘Facetime’ on CNN because it tells compelling success stories about Africa that can ultimately position the continent as an attractive investment destination.
The aim, Dangote reiterated, is to foster development that lifts communities and nations into prosperity, as “this is Africa’s time.”