Good morning ladies and gentlemen.
Let me start by commending, most sincerely, all the members of the Task Team on Audience Measurement for doing such a great job, as detailed in the speech just read by the Chairman.
2. I want to thank the Chairman, Alhaji Garba Bello-Kankarofi, as well as Mr. Obi Asika, Hajia Sa’aa Ibrahim, Mr. Mahmoud Alli-Balogun, Mrs. Pauline Ehusani, Mr. Tolu Ogunkoya and last, but not the least, our very own Joe Mutah, the Secretary of the Task Team.
3. Thank you all so much for your hard work, dedication and patriotism. You were called for a national assignment, and you sacrificed your time, your comfort and your day job to make a success of it. You all deserve a standing ovation.
3. Based on the feedback that I have received and the beautiful speech just read out by your Chairman, I am convinced that the report that you are submitting today will go a long way in helping us to achieve our objective, which is to solve the Audience Measurement issue in Nigeria, once and for all.
4. It is no longer news that the absence of a world-class Audience Measurement System has resulted in under-investment in the sector and stunted its growth. Whereas the Nigerian film and music industry has grown significantly over the past decade, the Nigerian Broadcast Advertising industry has been in decline. This must be reversed.
5. As I have said on many occasions, the value of Nigeria’s Broadcast Advertising Market is not proportional to the country’s population, when compared to the Top 3 Markets in Sub-Saharan Africa.
Despite having a population more than three times that of South Africa, Nigeria’s Television Advertising Revenue in 2016 was US$309 million, compared to that of South Africa, which was US$1.3 billion.
6. The immediate task before us, therefore, is to bring the under-performing Nigerian TV and Radio Advertising Market to what it should be, which is two to three times its current size. This could result in additional US$400 million of revenue in the industry within the next three years.
7. And the key to achieving that objective is the faithful implementation of the report you are submitting today. Let me assure you that we will study the report and implement the recommendations, especially the 5-Step Agenda, with the same vigour and commitment that you have employed in putting it together.
8. Once again, thank you so much for availing yourselves creditably in carrying out this tough assignment. When the history of a modern Audience Measurement System in Nigeria is written, your names will appear in gold.
9. Thank you all.