OAAN moves to check influx of foreign outdoor firms in Nigeria’s space
Outdoor Advertising Association of Nigeria (OAAN) has deployed deliberate measures designed to stem the tide of illegal entrance of foreign-based firms into the nation’s outdoor advertising landscape.
President of the Association , Emmanuel Ajufo, who made this disclosure said the organisation was already in the process of initiating legal action against a number of such foreign companies that are engaged in outdoor advertising businesses in Nigeria without due adherence to the code and guidelines of practice as stipulated by Advertising Practitioners Council of Nigeria (APCON).
Ajufo, who spoke in an exclusive interview with MARKETING EDGE, observed that Nigeria’s outdoor advertising sector was bedeviled by myriad challenges bordering on breach of professionalism, basic among which is uncontrolled entry of foreign firms into the business as well as the ever recurring issues of multiple taxation by various governmental agencies.
Commenting on the prevalent issue of inter-sectorial indebtedness in the industry, the OAAN boss noted that the debt issue was assuming an alarming dimension adding that industry stakeholders must have to come together to chart the way forward on the debt issue.
Though he was unspecific on the total volume of debts owed by the various industry players, he was particularly critical on the new trend of 120 days payment terms being initiated by several multinational advertisers, pointing out that the development was antithetical to APCON stipulations on debt and as such, must be jettisoned in the interest of business and industry growth at large.
The OAAN boss who took a retrospective look at the industry’s business performance, especially in the just ended half year period of 2019 regretted that though the industry fared not too well in the period owing to prevailing negative economic situations in the country, there are, however, strong optimism that businesses would perform better by the turn of the second half of the year.
He added that the association was in the process of leveraging with similar outdoor regulatory bodies across West African sub-region and other international agencies with a view to ensuring standardisation of outdoor advertising practice in Nigeria.
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