The Cluster MD of Dentsu X and Dentsu Location Services, Chike Oputa, has challenged stakeholders of the media advertising industry on the need to redefine advertising practice in Nigeria.
Oputa made this charge while speaking at the 2025 Business Outlook Session organized by the Media Independent Practitioners Association of Nigeria (MIPAN) in Lagos.
Speaking on the theme, “Navigating the Cost of Doing Business in Nigeria: Value Delivery in a Tough Economic Climate, Oputa noted that advertising agencies need to develop strategic frameworks for sustaining value delivery, fostering resilience, and driving long-term success in a demanding business environment.
Highlighting the impact of economy on the advertising business, Oputa noted that agencies do well when the economy is doing well. “In the same way, agencies do badly, when the economy is doing badly.
“We are a direct-to-business and to consumer. And if those businesses are not able to reach their consumer or cut the cost of reaching their consumer, it directly affects us,” he added.
According to Oputa, media and advertising agencies are almost at the edge of the cyclical nature of the economy, because anytime the economy shakes, the professional services, marketing services, suffer.
“Now, if you layer this with the ease of entry in the industry, it is easy to set up a media agency in quote. It is easy to set up digital agency. It is easy to build a billboard, what you typically have is an industry that is saturated and hence contracting owing to increased competition among players.
“So that means that you’re competing in a red ocean. And when you do that, people typically will compete around price.
“A lot of the conversations we have on media is procurement and cost-led conversations as opposed to value-led conversations. So that means that our margins will continue to be eroded because fundamentally we offer a service where more and more people are coming into a sector that is contracting,” Oputa said.
Against this background, Oputa stressed that now is the right time for stakeholders to redefine the media advertising industry.
He said if the stakeholders fail to take deliberate actions in redefining the industry, many players in the industry could become less profitable.
Oputa maintained that it is imperative for stakeholders to redefine the media advertising industry, saying more energies should be channelled in doing the work rather than talking.
He said, “There is nothing said on this stage that everybody here doesn’t know. Let’s just do, because if we don’t do there’s no industry.
A passionate strategy and marketing professional, Chike is experienced in managing complex projects and campaigns across different product categories and jurisdictions.
Currently, he is leading innovation, locations services among other integrated marketing services at Dentsu X and Dentsu OOH respectively. Chike has successfully led strategy efforts for a portfolio of companies.
As outstanding business leader, Chike has experience in Corporate Strategy, Business Development, Account Management and Multi-Channel engagement with a proven track record for developing new business opportunities.
