SBI Media Group has strengthened its position as a major force in Nigeria’s media and advertising industry, rising to second place overall in the newly released RECMA Nigeria Overall Activity Ranking 2024. The international report also confirms the agency as the country’s largest independent media outfit, underscoring its rapid expansion and market influence.
RECMA—the global authority on media agency evaluation—assigned SBI Media a 16.3% share of Nigeria’s media market, placing it ahead of major network-backed competitors including All Seasons Zenith, PHD, Carat, iProspect and others. Only MediaReach OMD ranks higher across the industry.
Fastest-Growing Agency Over Three Years
Beyond its strong market share, RECMA’s analysis highlights SBI Media as Nigeria’s fastest-growing media agency between 2021 and 2024, recording an exceptional 266% growth rate over the period. The 2024 data alone shows an 80% year-on-year rise in activity volume—marking the steepest upward trajectory in the Nigerian market and more than tripling performance levels compared with three years ago.
Due to currency realignments and naira devaluation, the 2024 report references adjusted 2023 figures, but the growth trend remains unequivocal: SBI Media has outpaced global network agencies in both momentum and market consolidation.
CEO Rotimi Bankole: Ranking Validates Long-Term Strategy
Reacting to the new ranking, SBI Media Group CEO Rotimi Bankole said the recognition affirms the agency’s decade-long vision of building a globally competitive African media network anchored on innovation, talent and technology.
“The latest ranking by RECMA has further buttressed and accentuated the effectiveness of our 10-year strategic plan to build Africa’s global media and communication group,” Bankole said. “With the impending AI supercycle and its ‘double-edged’ consequences on the industries we support, we believe we are well prepared to work with our local, regional and global partners to build strong brands that are profitable and responsible.”
He also expressed appreciation to partners and colleagues across the markets where SBI Media operates, attributing the agency’s rise to collective effort and sustained excellence.
A Rebounding Market Reshapes the Rankings
The Nigerian media industry experienced renewed advertiser confidence in 2024, driven by key economic reforms such as currency liberalisation and the removal of fuel subsidies. This revival spurred stronger spending across traditional platforms—including television, radio, and print—boosting performance metrics for agencies with strong national footprints.
In this environment, SBI Media not only consolidated its long-standing reputation as the country’s leading independent agency but also outperformed global network agencies to emerge the overall fastest-growing firm in both annual and multi-year RECMA assessments.
Expanding Footprint and Global Ambitions
SBI Media Group, known for its culture of innovation and bold brand-building, is a member of the Stagwell Global affiliate network. The agency works with a wide client portfolio spanning telecoms, technology, aviation, automotive, e-commerce, FMCGs, finance, and other sectors.
The Group operates across major economic hubs including Accra, Johannesburg, Nairobi, Dubai and London, serving clients in Europe and the Asia-Pacific region. Its headquarters in Lagos houses more than 100 specialists in media strategy, digital transformation, research, creative development, planning and media exchange.
With RECMA’s latest ranking reinforcing its dominance and growth momentum, SBI Media Group is positioning itself not only as Nigeria’s top independent media agency but as one of Africa’s most globally oriented communications companies.