馃嚦馃嚞NigeriaWest Africa
Nigerian banks UBA, GTCO, and Access Holdings spend N118 billion on advertising and marketing
via Punch Nigeria4 min read
Three major Nigerian banks, United Bank for Africa Group UBA, Guaranty Trust Holding Company GTCO, and Access Holdings, collectively spent N118.55 billion on advertising and marketing over a 15-month period, encompassing the full year 2025 and the first quarter of 2026. This expenditure reflects intensified brand promotion amidst increasing competition in Nigeria's financial services sector. In 2025, their combined spending was N95.71 billion, a 25.1 percent decrease from N127.75 billion in 2024, largely due to UBA reducing its expenses. However, GTCO increased its marketing spend, while Access Holdings saw a slight reduction. Spending rose in Q1 2026 to N22.84 billion, a 62.4 percent increase from the corresponding period in 2025, with UBA accounting for the majority. Over the 15 months, UBA spent N72.81 billion, approximately 61.4 percent of the total, while GTCO and Access Holdings each spent around 19 percent. Analysts suggest this mixed spending pattern indicates a recalibration of marketing budgets due to evolving macroeconomic conditions and digital competition from fintech operators. Anietie Udoh, Divisional Director, Marketing, Marketing Edge Publications, noted that financial institutions are increasingly using digital platforms, sponsorships, and lifestyle campaigns, with communication strategies focused on audience segmentation. He also highlighted the impact of fintech firms like OPay and Moniepoint, which are expanding their advertising through digital channels
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