OAAN may lobby Information Minister over N50bn CBN loans for creative industry
Feelers emanating from the Outdoor Advertising Association of Nigeria (OAAN) have revealed that the body may have begun talks with the Federal Minister of Information and Culture, Alhaji Lai Mohammed over the N50 billion approved for creative industry by the Central Bank of Nigeria (CBN).
Specifically, OAAN the umbrella body for all registered Out-of-Home companies in Nigeria is believed to have commenced negotiations with the Minister with a view to helping its over 150 member companies benefit from the CBN gesture as part of the Federal Government’s plan to support the small and Medium scales Enterprises (SMES).
It will be recalled that the Honourable Minister of Information and Culture had disclosed recently that the Federal Government earmarked N50 billion through the Central Bank of Nigeria, (CBN) for the creative industry.
The fund, he had stated, was meant to assist small holder businesses scale through the impact of Covid-19. The endowment, Mohammed further said, would help support every medium and area of creative activity in the art, culture and heritage sectors as well as foster professional excellence.
Dropping the hint about OAAN’s deft move to enlist the Minister’s support, Mr. Lere Alimi, a frontline OOH practitioner and Chief Executive Officer of New Meridian Media Ltd, said the association’s planned lobby with the Honourable Information and Culture Minister would go a long way in boosting fund injection into most of the OAAN member companies.
Alimi, who hinted at the move while making his presentation as a panelist during the Webinar organised by OAAN this week, canvassed a radical and more innovative ideas and products for OAAN member companies, insisting that such a development was the only way the industry could continue to attract advertisers.
He also decried the huge indebtedness of both the agencies and the advertisers to the OOH companies, stating that unpaid debts would continue to hamper growth and development of business organisations. He also lamented the rising incidences of multiple charges and taxations by different regulatory agencies of government.
Not only that, the OOH Chieftain canvassed for a very virile and formidable association, adding that it is only a very strong umbrella body that could face some of the emerging business challenges.
He, nonetheless, emphasised the need to rebuild the advertisers’ confidence in the OOH medium as a key platform in building their brands.
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