Goodwill Message by Prince Fatiu Akiolu, Managing Director, LASAA, at the 39th AGM of the Out of Home Advertising Agencies of Nigeria (OAAN)

Title: Redefining Out-of-Home Media: Practice, Business, and Value Creation**

Distinguished Members of the Out-of-Home Advertising Agencies of Nigeria (OAAN), Esteemed Industry Stakeholders, Ladies and Gentlemen,

It is a great pleasure and honor to be part of this remarkable occasion, the 39th Annual General Meeting of the Out-of-Home Advertising Agencies of Nigeria (OAAN). On behalf of the Lagos State Signage and Advertisement Agency (LASAA), I extend warm greetings and heartfelt congratulations to OAAN on reaching yet another significant milestone in its journey of driving growth, innovation, and excellence in the out-of-home (OOH) advertising industry in Nigeria.

The theme of this year’s AGM, “Redefining Out-of-Home Media: Practice, Business, and Value Creation,” could not have been more apt. We are in an era where the confluence of technology, creativity, and strategic collaboration is redefining how we perceive, practice, and profit from OOH media. This theme challenges us to rethink our approaches, enhance our operations, and work collectively towards creating greater value for all stakeholders involved.

As the regulatory body entrusted with the oversight of outdoor advertising in Lagos State, LASAA plays a pivotal role in shaping the landscape of our industry. Our mandate is not just to regulate but to facilitate an environment where innovation thrives, businesses grow, and value is continuously created. We recognize that the success of OOH media hinges on a delicate balance between creativity and compliance, between innovation and regulation. It is within this balance that true synergy lies.

To achieve this synergy, it is imperative that the OOH industry and LASAA work closely together, fostering a partnership grounded in mutual respect, transparency, and a shared vision for growth. I believe there are several key areas where we can enhance our collaboration:

1. Streamlining Regulatory Processes: LASAA is committed to making our processes more efficient and transparent. We are constantly reviewing our guidelines and policies to ensure that they not only protect public interest but also support the growth and innovation of OOH businesses. We invite OAAN members to engage with us actively, providing feedback that can help us refine our processes and make them more conducive to business growth.
2. Promoting Compliance Through Collaboration: Compliance should not be viewed as a hurdle but as a foundation for sustainable growth. We urge all stakeholders to view LASAA’s regulations as a roadmap for achieving industry standards that benefit everyone—agencies, advertisers, and the public. By working together, we can develop compliance strategies that are practical, fair, and beneficial to all parties involved.
3. Leveraging Technology and Data: In today’s digital age, technology and data are powerful tools that can drive significant value creation in OOH media. LASAA is investing in digital platforms that will allow for more efficient management and monitoring of outdoor advertising. We encourage OAAN to collaborate with us in leveraging these tools to enhance the effectiveness and impact of OOH campaigns, ensuring they are not only visually compelling but also strategically placed and data-driven.
4. Fostering Innovation: Innovation is the lifeblood of our industry. Whether it’s through the adoption of new technologies, the development of creative advertising formats, or the exploration of new markets, innovation is what will keep OOH media relevant and effective. LASAA is committed to supporting innovation by creating an environment where new ideas can flourish. We are open to working with OAAN to explore pilot programs, test new concepts, and implement initiatives that push the boundaries of what OOH media can achieve.
5. Building Public Trust: Finally, we must work together to build and maintain public trust in the OOH industry. This means ensuring that our practices are not only legally compliant but also socially responsible. LASAA is dedicated to upholding the highest standards of safety, aesthetics, and ethical advertising. We call on OAAN members to join us in promoting responsible advertising practices that enhance the public’s experience of our urban spaces while delivering value to clients.

In conclusion, I want to reiterate LASAA’s commitment to working hand-in-hand with OAAN and all industry stakeholders to redefine the future of out-of-home media. Together, we can create a vibrant, dynamic, and sustainable industry that not only meets the needs of today but is also poised to seize the opportunities of tomorrow.

As we move forward, let us embrace this theme of redefining practice, business, and value creation with a renewed sense of purpose and collaboration. The future of OOH media in Nigeria is bright, and by working together, we can ensure that it continues to shine.

Thank you, and I wish you all a successful and productive AGM, delivered by Temitope Akande, Head of Corporate Communication and Strategy , on behalf of Prince Fatiu Akiolu, the Managing Director of LASAA.