Adeyinka Aderoju, marketing research expert and consultant, Adeyinka Aderoju, has called for urgent reforms in Nigeria’s market research industry to unlock its full potential and secure a stronger share of the global $142 billion insights market.
Speaking on ‘The Nigerian Market Research Landscape: Now and the Future’ on Day 3 of the Nigerian Marketing Research Association (NiMRA) conference, Aderoju traced the industry’s roots from a single agency in 1969 to over 100 firms and thousands of professionals today.
In spite of this growth, she lamented that Africa still accounts for just three percent of the global market research revenue.
“We have moved from PAPI to digital and AI-powered tools, yet Africa, including Nigeria, remains largely invisible in global research rankings,” she said, urging local agencies to embrace technology, submit industry data, and leverage collaboration to increase visibility and competitiveness.”
Aderoju emphasised the need to nurture young talent, improve data quality, and make the industry more attractive to the next generation. She also called on stakeholders to build AI-native agencies, strengthen training, and promote standards through a more visible and proactive NiMRA.
Wole Ogundare, chief executive officer of Carthena Advisory, warned that Nigeria’s economic sustainability was at risk unless urgent steps were taken to overhaul its infrastructure and address key fiscal challenges.
Speaking on fiscal and monetary policy, Ogundare said the Central Bank of Nigeria (CBN)’s benchmark interest rate of 27.50 percent had made borrowing unaffordable, urging businesses to explore alternative financing routes.
He also warned that new tax regimes taking effect from July 1 could strain businesses further if not matched with infrastructure-led growth.
He called on businesses to adapt quickly to the shifting economic landscape. “Reinvent your business model, stay agile, and rethink your cost structure. AI, digital payments, and market insights are key to staying competitive in this environment,” he advised.
Also speaking at the event, Yemi Oniyitan, data privacy expert and managing director of Consumer Ideas, emphasised the growing importance of data management and privacy in Nigeria’s evolving digital landscape.
He said artificial intelligence (AI) had become a critical tool in shaping how data is collected, processed, and protected, but warned that agencies must be transparent in their use of AI.
“AI has come to stay. Don’t hide it under the table, be open and use it creatively,” Oniyitan said, urging market researchers to adopt responsible AI practices that prioritise individual privacy and ethical data handling.
He noted that while data generation in Nigeria has doubled since 2018, challenges such as poor awareness of privacy laws, weak enforcement of the Nigeria Data Protection Regulation (NDPR), and lack of adequate infrastructure continue to hinder progress.
Oniyitan noted that although many Nigerian agencies now use modern digital tools like cloud storage and automated processing software, there is still a gap in understanding and applying global best practices around data protection.
He stressed that true data quality goes beyond collection and lies in how it is processed, protected, and used to influence decision-making. He also called for stronger cybersecurity frameworks and more investment in AI training to help Nigerian researchers compete globally.
To address these gaps, he recommended small, scalable steps such as training of researchers in AI applications, adoption of secure digital platforms, and building of strategic partnerships with AI-focused institutions like Data Science Nigeria.
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