Foreign Investment Critical To Growing Advertising Business – Ayanwale

A  renowned  advertising and creative guru and Group Chief Executive of Centrespread Communications Limited, Mr. Kola Ayanwale, has expressed support for huge investment from expertise abroad as a way of  sustaining and boosting advertising business in Nigeria.

Speaking on the state of advertising in Nigeria and the need for investment, Ayanwale noted that it was clear that the industry was still trying to compete at the highest level, stressing that with greater financial investment by foreign partners and agencies, the industry would be at par with foreign counterparts.

Speaking on the issue, Ayanwale added that there was no doubt that the industry was suffering from dearth of skills, which when provided could uplift the level of creativity, which seems to be missing over the years. He noted that the local industry, as it is, requires that more attention is focused on recruiting and engaging the best minds to help the trade grow in Nigeria.

He said: “Everybody who has spoken to me knows my point on this that as a people, as a country, and may be as a continent we have failed to produce professional managers for the economy. We need to recruit people based on the talents that they have and pay them commensurably. They will come here and work for you sincerely without comparing notes whatsoever knowing full well that they are doing a professional job.”

According to him, the country’s advertising industry is not yet there and that is why the practice is still different from the developed countries, adding that, “I still believe that no matter how arrogant you want to be, we still have a lot to learn from the way developed economies do it.”

However, he attributed the gap of professional managers in the country’s advertising industry to poor educational system, saying that the real issue now is to raise the standard so as to produce quality personnel.

“I’m not averse to foreigners taking interest, controlling interest because when they do they put their investment down, they will also support the local industry with their system, procedures and their experience that can sustain your agencies for 200 years. I think we are still lacking in that area. We used to do that, we should go back to doing that,” he said.

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