Nigerian banks boost marketing spend in early 2026
Nigeria’s deposit money banks have ramped up their spending on advertising, promotions, and corporate gifts. According to an analysis of unaudited financial statements, total marketing expenditure reached N76.54bn in the first quarter of 2026, marking a 5.35% increase from the same period in 2025. United Bank for Africa led the surge, while some banks reduced their marketing budgets. The rise comes amid tighter regulatory scrutiny from the Central Bank of Nigeria.
TLDR
- Banks’ marketing spend rose to N76.54bn in Q1 2026, up from N72.65bn in Q1 2025.
- United Bank for Africa recorded the highest marketing expenditure, spending N15.68bn, a 177.69% increase from Q1 2025.
- Jaiz Bank saw the highest percentage growth, with a 1,623.60% jump in marketing spend.
- Five banks, including Fidelity Bank and FCMB Group, reduced their marketing expenditure during the period.
- The Central Bank of Nigeria issued new advertising guidelines in November 2025 and will begin follow-up reviews from January 2026.
