Outdoor advertising in Nigeria dates back to 1928, with the establishment of West African Publicity Limited, a subsidiary of United African Company (UAC). The UAC subsidiary later forked into Afromedia.
Nigeria’s pioneer out-of-home media services provider. Static billboards were the mainstay in the Outdoor advertising in Nigeria for a long time. But with the advent of technology came digital billboards. Other forms of outdoor advertising in Nigeria include street furniture advertising, on-vehicle or transit advertising, in-store advertising, among others. There are over 140 organizations providing billboards and hoardings across the country.
Everything you need to know about Outdoor Advertising in Nigeria.
Outdoor advertising revenue reached N23.8billion in 2013, but declined to N20.1 billion in 2015. The telecommunications and alcoholic beverage industries have continued to demonstrate their preference for out-of-home advertising, with huge chunks of their budgets committed to Out door advertising.
Global Outdoor advertising revenue reached $35 billion in 2015. The industry is set to continue to grow at a compound average growth rate (CAGR) of 4.3% to reach $42.74 billion in 2020.
Nigeria is one of the fastest growing markets for LED billboards in sub-Saharan Africa, there are significant opportunities for growth across the value chain of Outdoor Advertising in the country.
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