COVID-19 pandemic: OOH operators lament losses, back govts’ Stay-at-Home directives
Business operators in Nigeria’s Out-of-Home advertising sector have continued to count their heavy losses following the stay at home directives made by federal and state governments across the country as measures to contain the continued spread of the dreaded COVID-19 pandemic in the country.
The operators have also commended the various proactive measures currently embarked upon by the Lagos State government in the fight against the global pandemic and urged Nigerians across all walks of life to show maximum cooperation with government in the ongoing effort to get rid of the virus that is currently on rampage all over the world.
Responding to MARKETING EDGE enquiries on impacts on business of the COVID-19 pandemic since it broke out in Nigeria, President of the Outdoor Advertising Association of Nigeria (0AAN), Emmanuel Ajufo said the stay-at-home directive occasioned by the COVID-19 outbreak was doing more damage to businesses far more than the effects of the recent rate increase of the naira against the dollar.
The Central Bank of Nigeria (CBN) recently announced an upward adjustment pegging the current rate of the naira at 380 against the United States dollar, a development that has attracted widespread criticisms by many business stakeholders.
According to the OAAN President, owing to the governments’ stay at home directives, billboard platforms would command reduced patronage and to that effect there would be subsequent cancellation of contracts. He, however, noted that there was need to cooperate with the government in the bid to get rid of the virus.
“The stay-at-home directive occasioned by this Covid-19 pandemic is doing more damage to our business than the increase in the dollar price. This is to be expected because now that we are home, our platforms will have reduced patronage and hence the expected cancellation of contracts.
“However, life is involved and only those that are alive can do business. It follows that we all should cooperate with government to get rid of this virus that is on rampage all over the world,” he said.
Following the outbreak of the COVID-19 global epidemic, business stakeholders across different sectors, including the advertising industry have lamented over the negative economic impacts of the global pandemic on businesses.
Commenting recently on the negative impacts of the global pandemic on Nigeria’s advertising sector, Acting Registrar of the Advertising Practitioners Council of Nigeria (APCON), Ijedi Iyoha had observed that the industry, like every other sector of the economy was adversely affected.
According to the Council boss, businesses had understandably slowed down as practitioners were becoming cautious and acting as safety demands. She noted that while some advertising event had suffered cancellations, foreign advertisements were on a gradual decline.
“The Advertising industry is negatively affected like every other sector. Businesses have understandably slowed down and people are cautious now and are acting as safety and hygiene demand. Some advertising events have been canceled and foreign advertisements are on gradual decline,” she noted.
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