WorldStage President Supports Executive Order to Force…

The Chairman/CEO of World Stage Limited (WorldStage), Segun Adeleye, has proposed that the Federal Government of Nigeria issue an executive order to compel corporate organizations in the country to dedicate 80% of their advertising budget to local media.

Adeleye stated this in his speech during the recent WorldStage Nigeria Macro-economic Outlook 2026 presentation in Lagos.

In the speech, the WorldStage boss explored how cultivating synergy between local media and business organizations can ensure constant flows of business and investment information.

President Bola Tinubu recently said his government will cut tariffs on media equipment coming into the country, hoping to provide some relief to the media industry.

“But with media houses transforming to offer products and services online, the extent to which they benefit from such a rate cut could be very minimal,” Adeleye said.

According to him, the only reasonable source of income in the industry is advertising, the window of which has closed over the years.

He offered another look at the federal government’s “Nigeria First” policy through the lens of the local media sector and advertisers who he said make profits in Nigeria but spend most of their advertising dollars on foreign media to make a good impression.

“Policy can be explored to force local businesses to prioritize local media. This is important because many of Nigeria’s blue chips spend millions of dollars promoting their businesses in foreign media with little regard for local players,” he said.

“The way forward, I think, should be for President Bola Tinubu to issue an executive order requiring local businesses to allocate no less than 80% of their advertising budget to local media.”

He praised the sponsors of the prospects, which include Nigeria Liquefied Natural Gas (NLNG), Zenith Bank, NLNG, CBN, NNPC Limited, Linkage Assurance and Fidelity Bank.

“I believe that if most Nigerian companies could emulate NLNG in terms of social responsibility and commitment to local media, there would be no need to seek an executive order for them to do what is necessary,” he said.

The outlook reflects hopes, projections, optimism for Nigeria’s economy, with caution, according to its auditor, Lagos Information Commissioner Gbenga Omotoso.

Adeleye said the follow-up to the outlook, the 2026 First Quarter Report, will provide useful information to policymakers, businesses and investors, informing growth and development strategies.

Related