Determined to ensure responsible and ethical advertising practices, Advertising Regulatory Council of Nigeria, ARCON has announced new vetting rates for all media platforms
According to the advertising regulatory council, this new law is in line with its regulatory mandate in accordance with the advertising law.
Olalekan Fadolapo, Director General of the Advertising Regulatory Council of Nigeria, ARCON said the new regime has not increased the existing vetting fee but rather, broken it down to encourage responsible advertising through pre-exposure vetting in line with the advertising code of practice
According to the statement signed by Fadolapo the vetting by Small and Medium Enterprises for traditional media, comprising print, broadcast and Out-of-Home which has a validity Period of Approval of 12 Months has been reviewed downwards from N25, 000 to N10, 000 for ten working days.
It added that for SMEs, 8 hours accelerated fee for a maximum of 15 concepts per application costs N100, 000 as 16 hours accelerated vetting fee for a maximum of 10 concepts per application costs N70, 000.
The advertising regulator noted that the special window which is aimed to provide support for SMEs can only be accessed when application for vetting is done under the SME Classification with proof of evidence as an SME with a letter from either the Small 6 Medium Enterprise Development Agency of Nigeria (SMEDAN] or the National Association of Small and Medium Enterprises (NASME).
Meanwhile, for new media consisting of online and social media platforms, all brands and organizations are to pay N7, 500 as vetting for a seven working day period instead of paying the previous rate of N25, 000. The statement noted that 8 hours accelerated vetting cost N100, 000 for a maximum of 15 concepts per application while 16 hours accelerated vetting cost N70, 000 for a maximum of 10 concepts per application. The validity period for approval is three months.
However, for the traditional media which consists of print, broadcast and Out-of-Home, the current and existing vetting fee regime (normal and accelerated vetting) remains the same for all brands, organizations, or industries, excluding SMEs.
While the validity period of approval is 12 months, 8 hours of accelerated vetting allows only a maximum of 15 concepts per Application while 16 hours of accelerated vetting permits only a maximum of 10 concepts Per Application.