It has been a very interesting 3 years for Outdoor Companies in Lagos State metropolis as LASAA (Lagos State Signage & Advertisement Agency ) has changed the face of Billboards in Lagos State. LASAA an agency that was constituted by Lagos State government to monitor the state of Outdoor and signage’s in Lagos State has suddenly become a terror to the Outdoor association (OAAN).
LASSA mission is to keep Lagos State clean by getting rid of all unwanted and disorganized billboard, Signages and all outdoor Posters in Lagos State metropolis. LASAA’s mission started by destroying about 80% of all billboards and signage’s in Lagos State. Outdoor companies then have to re-register their billboards before mounting billboards on Lagos streets. This tactics worked like magic because within a short space of time, Lagos metropolis became really clean and tidy, but little did outdoor companies know that, they will also pay dearly for this.
Prices of Outdoor skyrocketed by almost 800% in Lagos metropolis area because LASSA levy (TAX) was about 500% more than the formal prices. According to LASSA, this will make it possible, that we only have few billboards in Lagos State. Little did companies and advertisers also know that they will also bear the brunt of it all. LASSA has now become a major competitor in the outdoor industry because, now LASAA which is supposed to be a monitoring body, now owns about 40% of outdoor billboards in Lagos State. While prices of billboards has gone up by more than 800% of what the price used to be. Recently, other States in Nigeria like Abuja, Ogun and Portharcourt are adopting this strategy. Lots of outdoor companies have already folded up, while the very few left standing are barely surviving.
So, the question is ' Is LASAA a friend or a foe'? Please decide.