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Outdoor advertising otherwise known as Out-Of-Home Advertising occupies a central position in the overall media scene in Nigeria.
It is the main public trust support medium for reinforcing brand and advertising awareness which has become increasingly patronized due to erratic power supply.
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- In 2019, Outdoor advertising sector alone accounted for about N45 billion of the total advertising industry billings in Nigeria estimated at N162 billion, and N47.2 billion projected in 2020 as a result of the pandemic (PricewaterhouseCoopers). The figure, representing conservatively 27.8 percent of the total advertising expenditure, excluded branding, marketing and promotional activities in the course of the period under review.
- According to the U.S based Global Industry Analysts Inc., which released the “Global Strategic Business Report” in September 2017, shows that the value of global outdoor advertising will grow to $44.7 billion by 2024, driven by retail boom, amount of time spent outdoors and new hoardings.
- The outdoor advertising sphere in Nigeria is growing in leaps and bounds; remains indelible because it creates an opportunity to lend something tangible, physical and visible to brands.
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