The Lagos State Signage and Advertising Agency has announced various palliatives to cushion the adverse impact of the COVID-19 on the operations of outdoor advertising practitioners in the state.
The Managing Director and Chief Executive Officer, LASAA, Adedamola Docemo, disclosed this at a press conference in Lagos, according to a statement issued by the agency on Thursday.
He said the agency had decided to waive the permit fees for outdoor practitioners spanning three months from April to June 2020, following the approval of the state governor, Babajide Sanwo-Olu.
“This represents 25 per cent of the outdoor practitioners’ bill for the year 2020,” he noted.
He added that the agency was also willing to offer a special discount to all outdoor advertising practitioners that are ready to offset their 2019 outstanding bills completely and immediately.
According to him, this would however be done on a case-by-case basis.
Docemo stated that a revised bill for the year would be sent to all registered outdoor advertising practitioners with a letter detailing the terms and conditions attached to the rebate.
He added that a major condition was the practitioners’ readiness to settle all 2019 outstanding bills as well as the outstanding payment for January to March 2020.
The LASAA boss said a formal letter had been sent to the Outdoor Advertising Association of Nigeria and other stakeholders in the industry intimating them of the new developments.
He expressed optimism that the initiative would go a long way to demonstrate the agency’s resolve to help the industry grow as well as cushion the negative effects of the COVID-19 pandemic on outdoor advertising business in the state.
“We hope the members of the outdoor advertising industry will reciprocate this good gesture from the state by ensuring prompt payment of all their obligations to the agency as this will help the state’s agenda to achieve accelerated infrastructure development,” he said.
Docemo said the palliatives had become imperative because the advertising sector and the economy at large had been badly hit by the advent of the pandemic.
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.
The CEO assured that the waiver would go a long way to demonstrate the agency’s readiness to support businesses in the state.
