By Merit Ibe
The Outdoor Advertising Agency of Nigeria (OAAN) has restated the need for signage agencies to focus on ensuring the growth of the advertising industry.
President of the association, Emmanuel Ajufo, made the remark at the 37th Annual General Meeting of the association last week, where he acknowledged the nexus with agency as partner in progress, saying “we do not have anything against the signage agency earning income from their services to us, we should not be seen as the state government’s major source of IGR after oil.”
Ajufo lamented the policy summersaults that have hindered the promises of the Lagos State Signage and Advertising Agency (LASAA) to elevate its hoardings to status of real estate, where the association can use its billboards as collateral to source for funds. “ When LASAA came on board, one of the things promised was to elevate our hoardings to the status of the real estate, where we can use our bill boards as collateral to source funds. Several years after, policy summersaults have made this laudable initiative impossible,” adding “ we need to engage more in this area.” He said the association will push for the recognition by Central Bank of Nigeria to use billboards as collateral to access funds for the growth of the business.
On the issue of the agency regulating the structure or the advert on the structure or both, the OAAN boss said if the agency is concerned with the structure, as they should, “then why do they charge per face of a billboard.