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ITPAN lauds FG’s decision to fine foreign-produced adverts

ITPAN lauds FG’s decision to fine foreign-produced adverts

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The Independent Television Producers Association of Nigeria has commended the Minister of Information and Culture, Lai Mohammed, for ensuring compliance by all stakeholders with the broadcasting code, particularly with regards to the local content requirement.

In a statement made available on Tuesday by the President, Adeyinka Oduniyi, the association supported the minister’s decision to impose a fine of N100,000 on brands that produced advertising materials abroad each time such adverts were run locally.

According to ITPAN, the move will put a stop to unfair business practices that violate local content requirements and engender monopolistic tendencies.

It noted that it would also channel reasonable resources in the country’s creative economy so professionals and various allied skilled Nigerians could thrive and be productive.

Oduniyi said, “Over the last two decades we watched helplessly and hopelessly, the advert agencies becoming advert placement agencies and the loss of enormous opportunity in the creative industry with the outsource of advertising material production to foreign producers.

“Indeed, it has been responsible for the near collapse of the audio-visual units in most of the advertising agencies in Nigeria.”

ITPAN appealed to stakeholders, especially foreign companies, to embrace the policy and comply as a measure of corporate responsibility and patriotism. (adsbygoogle = window.adsbygoogle || []).push({});

The association added that the fine was only a measure of deterrent and to enforce compliance, noting that such protective actions were also practiced globally and in developed countries.

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