Princewill Ekwujuru
As Outdoor Advertising Association of Nigeria (OAAN) and  Lagos State Signage and Advertising Agency (LASAA), buries  advertisement space hatchet, LASAA said it will not increase registration fee for new entrants into advertising practice in Lagos, until 2010.

Mr. Alabi Makanjuola, Chairman, LASAA, disclosed during a courtesy visit to OAAN secretariat, that his agency will not be increasing registration fees this year, until next year,  reason, “those already registered has gone through a lot of troubles to put their acts together. It will not be fair to now bring in additional companies.”

But he noted that since the state has been cleaned and cleared, and an enabling environment emerged, where business in the advertising industry can thrive, “I do not think it is fair to create confusion for them (Outdoor agencies) , without giving them time to perhaps find their feet.”

Continuing,  he stressed, “a lot of investment is involved. But there are plans  that by 2010, we will review and check those that have applied for registration over the last two years, to see whether some of them might be qualified, but, out of the hundred and four that are registered.  I think only about 66 are actually active, almost 40 are inactive. So,  when you look at this figure you wonder, if there is really any need to allow more in.”On the volume of business of the organisation.

Speaking further, Makanjuola stressed that LASAA has tried in its own capacity to see how the advertising industry
could collaborate with the banks to move the industry forward, but this is in no way helping  matters as the banks are not ready to fund the industry.
He stated, “The Palms is were it is today because somebody somewhere funded the mall, and also if banks do not support the outdoor industry, they cannot come and collect money from us and you r are not  supporting the industry we work for.”

Collaborating, Mr. Kole Ademulegun, President, OAAN, speaking on how the outdoor industry  can be helped to improve and thrive, he said, “the association had approached the banks to help in re-building members sites, but that the banks are  not forthcoming, even though the association had tried to convince them that the outdoor business is a good one, they can invest in it .”

While reacting to a question on volume of businesses financially, Ademulegun stated that as an association it will be difficult to say the particular amount. According to him, “until we are open, that is when one will say I have this number of site, it is going to be easier in Lagos, reason, “we can go into a members office and get the required data.”