Nigeria’s marketing sector showing signs of resilience as new data reveals a total of $26.39 million in foreign inflows since 2023, signaling a cautious but notable return of investor confidence in the sector.
Figures from the National Bureau of Statistics (NBS) show that the sector had attracted $22.13m in 2023, before experiencing a sharp decline to just $1.29m in 2024, amid economic uncertainty and volatile foreign exchange policies.
Encouragingly, in the first quarter of 2025, foreign investment into marketing rose modestly to $2.97m, sparking optimism among stakeholders.
Commenting on the development, President of the Experiential Marketers Association of Nigeria (EXMAN), Tolulope Medebem, described the rebound as a positive signal that global investors are gradually regaining trust in Nigeria’s marketing space.
“After a very difficult 2024, Nigeria’s marketing sector is beginning to see some light,” she said.
“The $2.97m recorded in Q1 2025 shows renewed investor appetite.
While the cumulative $26.39m inflows since 2023 are not where we want to be, it signals a recovery trend.”
Medebem attributed the uptick to the Federal Government’s recent efforts to stabilize forex markets and improve policy clarity, as well as the resilience of Nigerian brands investing more in consumer engagement and digital platforms.
Beyond the financial capital, Medebem stressed that foreign inflows bring in global best practices, innovation, and partnerships that are vital for the sector’s growth.
“The slump in 2024 forced many agencies to cut back operations, slowed innovation, and shrank opportunities for young talent.
Reversing that trend will require consistent policy support and deeper investor confidence,” she added.
A former President of the National Institute of Marketing of Nigeria (NIMN), Tony Agenmonmen, echoed similar sentiments, noting that the modest inflows reflect a cautious but important shift.
“The Q1 rebound suggests investors are watching Nigeria closely.
The growth of e-commerce, fintech collaborations, and tech-driven marketing is attracting attention, especially as Nigerian brands invest more heavily in digital transformation,” Agenmonmen said.
He emphasized that scaling agencies, investing in technology, and creating jobs will depend significantly on sustained foreign participation.
Stakeholders also highlighted the ripple effects of the 2024 collapse in investment inflows, which disrupted campaign funding, led to talent flight abroad, and pushed agencies to adopt conservative marketing strategies.
“The liquidity crunch stalled bold campaigns, making it difficult for agencies to retain top professionals,” Agenmonmen explained.
“Some of our best talents moved abroad or shifted industries. Recovery now means attracting them back and restoring investor trust.”
Experts believe that Nigeria can reposition itself as a continental marketing hub if it builds on this rebound. Agenmonmen advised that agencies must:
Strengthen governance and compliance structures.
Embrace AI-powered and sustainability-driven campaigns.
Expand regionally to tap into wider African markets.
“Global investors look for transparency, innovation, and scalability.
Nigerian agencies that demonstrate these qualities will attract larger inflows in the years ahead,” he added.
Analysts say sustaining the momentum will depend heavily on government policy consistency, foreign exchange management, and efforts to combat Nigeria’s “high-risk” market perception.
With macroeconomic reforms and a growing digital economy, the sector could become a key driver of Nigeria’s GDP diversification.
Industry watchers agree that the current $26.39m inflow is only the beginning.
With its youthful population, expanding tech adoption, and resilient creative sector, Nigeria has the potential to attract far larger investments if stability is maintained.