Lagos State Signage and Advertisement Agency (LASAA) has announced that it will be giving palliatives package to Out-Of-Home (OOH) advertising practitioners following the state Governor, Babajide Sanwo-Olu’s approval. According to the agency, the palliatives is aimed at helping the industry cushion the effect of Covid-19 pandemic on its business operations.
The OOH is regarded as the worst hit in the Integrated Marketing Communication (IMC) industry following government’s directive on social and economic lockdown occasioned by the spread of COVID-19 pandemic.
Announcing the package of palliatives at a media briefing that held recently, the Managing Director and Chief Executive Officer of LASAA, Prince Adedamola Docemo disclosed that the palliatives package includes a waiver of permit fees for outdoor practitioners’ bills spanning three months from April to June 2020 representing twenty-five percent of overall outdoor practitioners bill for the year 2020.
He added that, the agency would offer a special discount for all outdoor advertising practitioners that are ready to offset their 2019 outstanding bills completely and immediately, pointing out however that this would be done on a case-by-case basis.
Furthermore, Docemo stated that a revised Year 2020 bill will be sent to all registered outdoor advertising practitioners with a letter detailing the terms and conditions attached to the rebate, adding that a major condition is the practitioners’ readiness to settle all Year 2019 outstanding including January to March 2020 payments.
He added that, as a way of keeping the practitioners abreast of these developments, a formal letter had been sent to the Outdoor Advertising Association of Nigeria (OAAN) and other stakeholders in the industry intimating them of these new development and conditions attached.
According to the agency boss, the palliatives had become imperative because the advertising sector and the economy at large had been badly hit by the advent of the coronavirus pandemic, particularly the outdoor advertising industry.
He noted that the aftermath of the pandemic had left many businesses struggling and on the brink of collapse, adding that as an organization that listens, it became necessary for the agency to take appropriate steps in assisting small businesses under its regulatory purview.
Docemo added: “You will agree with me that the advertising sector and the economy at large was badly hit by the advent of the coronavirus pandemic, particularly the outdoor advertising industry. Advertisers have either cut, suspended or outrightly cancelled their advertising contracts for the Year 2020.