Lagos State Signage and Advertising Agency (LASAA) has announced various palliatives to cushion the impact of the COVID-19 on operations of outdoor advertising practitioners in the state.
Managing Director and Chief Executive Officer of LASAA, Prince Adedamola Docemo, said the agency has decided to waive the permit fees for outdoor practitioners spanning three months from April to June 2020, following the approval of the state governor, Mr. Babajide Sanwo-Olu.
This represents 25 percent of the outdoor practitioners’ bill for the year 2020.
He said the agency was also willing to offer a special discount to all outdoor advertising practitioners that were ready to offset their 2019 outstanding bills completely and immediately. This will, however, be done on a case-by-case basis.
Prince Docemo explained that a revised bill for the year will be sent to all registered outdoor advertising practitioners with a letter detailing terms and conditions attached to the rebate, adding that a major condition is the practitioners’ readiness to settle all 2019 outstanding bills as well as the outstanding payment for January to March 2020.
He said a formal letter has been sent to the Outdoor Advertising Association of Nigeria (OAAN) and other stakeholders intimating them of the new developments. He expressed optimism that the initiative will go a long way to demonstrate the agency’s resolve to help the industry grow as well as cushion the negative effect of the pandemic on outdoor advertising business in the state.
Prince Docemo said the palliatives became imperative because the advertising sector and the economy at large had been badly hit by the pandemic, particularly the outdoor advertising industry. He noted that most advertisers had suspended or cancelled their advertising contracts for the year 2020, a situation that made revenue collection an enormous task for the agency.
He said the aftermath of the pandemic has left many businesses struggling and on the brink of collapse, adding that as an organisation that listens, it became necessary for the agency to take appropriate steps in assisting small businesses under its regulatory purview.
The CEO said OAAN had on behalf of its members repeatedly requested for the agency’s intervention and support to cushion the effect of the pandemic on their businesses.
LASAA was established by the Lagos State Structures for Signage and Advertisement Agency Law 2006 and with subsequent amendment to regulate and control outdoor advertising and signage displays in Lagos State.