Business Post Contributor
By Ashemiriogwa Emmanuel
Commercial banks operating in Nigeria expended an estimated sum of N298.1 million on print advertisements in July 2021, an analysis by P+ Measurement Services, an independent media intelligence and evaluation service provider, has revealed.
The estimation, according to the reputable organisation, was based on a sample size of 22 Nigerian lenders in the period under consideration.
According to the report, the total amount was invested in print media publications on various traditional and soft-sell publications across the country.
The media performance report sampled and highlighted Nigerian banks and their Chief Executive Officers (CEOs) with most media prominence in the area of partnership, sponsorship, Corporate Social Responsibility/Investment (CSR/CSI), product launch, promotion and financial technology media activities.
Giving a breakdown, the performance audit report showed that leading Nigerian lender, Zenith Bank Plc, emerged as the top spender in print media advertisement with N116.2 million, indicating a 39 per cent share of the total amount recorded.
It was followed by Access Bank Plc which, during the period, spent about N71.5 million on its advertising campaign in print media, contributing a 24 per cent share to the total figure.
Next on the ranking was Polaris Bank Limited, which shelled out a total of N38.8 million in running its promotional campaign.
Others included United Bank for Africa (UBA) Plc and GTBank Nigeria Limited, which in total shared 24 per cent of the total figure, with total spending of N35.8 million each on its print media publications last month.
