Operating firms in Nigeria’s Out – Of- Home (OOH) advertising sector accounted for an estimated sum of about N20 billion in course of the business year just ended, 2021.
The estimated sum represents about 25 % marginal increase when compared to the N15 billion recorded by operating agencies in the sub-sector in previous year, 2020.
Giving a breakdown analysis of business performance record by outdoor advertising firms in a chat with The Industry Newspaper, President of Outdoor Advertising, Association of Nigeria ( OOAN), Emmanuel Ajufo observed that the agencies performance record in year 2021 showed improvements in business operations by the OOH firms far beyond the dismal record in the year preceding 2020 owing to negative impacts of the Covid 19 pandemic.
Ajufo, however sounded notes of optimism that performance records in the sector would experience a boost in course of current year considering some expected positive developments.
He explained that, this, being a pre- election year, lots of business activities are expected to happen in sphere of politics, and added to that, advertisers were gradually returning back after the business losses occasioned by Covid -19 pandemic.
“I think there are signs that things will be better this year. Last year was good, to my mind, just recovering from Covid, so last year was good”
“There are signs that this year will even be better because, as you know, every pre- election year, a lot of activities also happen within the Out -Of-Home, clients too, the advertisers are also coming back fully now after the lost opportunities in 2020, so from the enquiries we are getting across board, it seems the year will be good for all of us”
“ I can only guess for now because media facts is the major source of our information and that of last year is not out yet, but I can safely say that we did over N20 billion, and that is from what we saw from last year. If two years ago we did about N15 billion or so, that is 2020, so u can then imagine what we would do when we are recovering from Covid”.
The OAAN boss who took critical appraisal of recent development initiatives across the industry commended APCON’s initiative, establishing the Advertising Industry Standards of Operation (AISOP), while calling on the various industry sectorial groups to work together and ensure its success.
“I agree totally with AISOP. Its our baby. You will recall that OAAN started it before the industry took it over. So all we need to do is to work with the details of AISOP. If after working with it for some time and we discover areas of conflict we can always review, but now I think everybody should come on board and then support AISOP, it’s important that we do”.
