ABSTRACT
The hidden truth about advertising is that it has taken a different dimension since the beginning of the 21st century. Traditional means of advertising were usually limited to print media, radio and television ads; these were the primary sources of advertising. Companies placed ads in community papers, local radio stations etc. currently, the avenues for advertisements have grown exponentially. Companies advertise their products through different mediums such as electronic billboards, stadium and sport centre advertisements, super bowl and other sporting/entertainment events ads, social media ads. In as much there is the liberty to advertise, it is paramount to note that there are also legal issues surrounding advertising of products in Nigeria. The paper explores the importance of advertisement as a whole and reviews the legal and regulatory aspects of advertisement in Nigeria. Although there are different sectors which generally make use of adverts such as the telecoms sector, financial services industry etc., particular reference will be given to the hospitality and Fast Moving Consumer Goods sectors in Nigeria and how the law, most especially the National Agencies for Food and Drug Administration and Control (NAFDAC) guidelines regulate what the content of their advertisements is. The paper also focuses on the Advertising Practitioners Council of Nigeria (APCON) which is deemed to be the watch dog for regulating advertisement in Nigeria. However with the recent occurrences and legal cases in the past few years, one begins to wonder the effectiveness of this and similar agencies. The paper further considers the anomaly that is presently with the current structure of the APCON Act, there are no provisions for online advertisers. It may appear that the legislators are not keeping in touch with current realities as online advertising is the most popular/used form of advertisement in Nigeria and indeed globally. The findings and recommendations for the paper is that NAFDAC should create stringent laws to regulate advertisement and also proffer stiffer punishments on those who are still in the habit of advertising food/drug products without the approval of NAFDAC. The APCON Act should also be looked into and amended to cover all forms of advertising activities as its current state deprives the Federal Government of internally generated revenue it would have otherwise earned.