Sola Akinsiku, OAAN President

 

 

President of the Out of Home Advertising Association of Nigeria (OAAN), Mr. Sola Akinsiku has said that members of the association are ready to throw their weights behind any policy or reform that would enhance the practice of advertising in the country, and grow the space.

 

 

Akinsiku, who stated this during a media chat, commended the apex regulatory agency in the industry, the Advertising Regulatory Council of Nigeria (ARCON), on its ongoing reforms, aimed at repositioning the industry,  noting that while there could be grey areas, those areas could always be sorted through dialogue, and consultation.

 

 

Speaking on the 2023 general elections and its aftermath on the sub-sector, the newly-elected OAAN boss said that, unlike in 2015,   the association, this time around, did not have any issue with any state regulatory body over campaign materials during the polls.

 

 

He attributed this development to the fact that members were more circumspect, since they had learnt their lessons  from the Year 2023 experience.

 

 

Akinsiku noted that, unlike the experience of the 2015 general elections when the association had cried out over a whooping debt of over N1bilion, allegedly owed its members by the Lagos State government for sites allotted to former President Muhammadu Buhari election campaign and that of a former governor in the state, Akinwunmi Ambode, the experience this time was seamless.

 

 

According to him, members involved in similar jobs this time around were able to firm up the contracts of the papers, and ensured that both parties lived up to the terms of the agreement before embarking on the projects.

 

 

While expressing the association’s regrets at the huge loss members had suffered over the 2015 general elections, the OAAN president stated that though the issues were yet to be fully trashed out, but members involved had simply moved on.

 

 

“What that had taught us is the need for us to be more thorough. And I think this time around, that is why we are yet to receive any report, regarding members being owed by state regulatory agencies over election matters, or even politicians. Members are more circumspect now , and wiser. They now ensure that for every contract, there is firm agreement backing it up,” he stated.

 

 

On what the future holds for sub-sector in the new year, the OAAN boss predicted a hugely positive outlook for Out-of-Home advertising in the new year.

 

 

Such optimism, he stated, is hinged on the increased national budget, which for the first time gave capital expenditure  a substantial sum of over N9trillion.

 

 

“What this simply meant is that we are likely to see more spending on the government side. And the way economy runs is that when we  government spends,  individuals and businesses in the economy will be better for it,” he stated.

 

 

Akinsiku also believes the reforms embarked on the present government may begin to yield fruits in the new  year, with the sub-sector also well-positioned to reap from it.