Mr. Biodun Shobanjo, Chairman of Troyka Group and guest speaker at the 10th annual Poster Awards has asked players in the outdoor advertising industry to seek mergers and acquisition in order to survive the current economic hardship in the country.
Mr. Shobanjo said the proliferation of outdoor agencies in the face of dwindling patronage will lead to the closure of some agencies or massive loss of jobs if no concerted effort is made by agencies to merge.
Shobanjo who said this while delivering his paper entitled: The Indices of a Vibrant Economy: Outdoor Advertising as a Catalyst noted that “When you have an economy that is no longer vibrant, one of the first casualties is the integrated marketing communication sector which is why operators have to innovate or die. There is no reason to have so many outdoor agencies choking the industry when they could converge to be stronger and more efficient.”
The doyen of marketing communication in Nigeria said France has just five out-of-home agencies likewise in many other civilised countries. He added that over-regulation is also killing the industry which is why no global outdoor organization would want to practice in Nigeria, he said.
Alhaji Lai Mohammed, Minister of Information, who was represented by the Registrar, Advertising Practitioners Council of Nigeria (APCON), Alhaji Garba Bello Kankarofi, said the government will create the enabling environment for the practice of outdoor advertising.
The award night saw many agencies cart away prizes for their efforts. Lintas Communications won an award for Star Lite Up the Night creative. Verdant Zeal Communications Limited had the best creative with Peugeot 508 in the automobile accessories category.
In the financial services category, TBWA Concept won an award for its Stanbic IBTC Bank creative. Dairy foods category was won by STB McCann for McVities biscuits while house and cosmetics category was won by Posterscope for Oral-B creative.
The non-alcoholic category was won by Insight Communications for its Pepsi Longthroat creative. Information, communication and technology category was carted away by SBI Media for Konga creative. The electronics/electrical category was won by Insight Communications for Tecno creative.
The entertainment category was claimed by Oh Communications for bet9ja creative while the public service award went to Noah’s Ark for BBOG creative. Aviation/Oil and Gas was won by GR8 Measures 2 for Emirates Airline creative and STB McCann won in the telecoms category with its Airtel creative.
The biggest award of the night, the Grand Poster Award, was won by Insight Communications for the Pepsi Longthroat creative.