AFROMEDIA SIGNS PPP MOU WITH LASAA

AFROMEDIA SIGNS PPP MOU WITH LASAA
Afromedia, Nigeria’s foremost Out-of-Home agency recently signed a private partnership agreement with Lagos State Government through the Lagos State Signage and Advertisement Agency (LASAA).
The partnership agreement would give exclusive branding rights to Afromedia Plc on Lagos streets signed up for a ten year concession period. During this concession period, Afromedia Plc would pay LASAA maintenance fee asides the one-off contract sum which would be used in fixing the lights. An annual maintenance fee will also be paid to LASAA in order to ensure continued illumination of franchised street lights between dusk to dawn.
Speaking at the contract signing ceremony, Managing Director LASAA, Mr Makanjuola Alabi disclosed that the partnership is a welcome innovation by the Lagos State Government as same is coming from the biggest Outdoor Company in Nigeria. ‘‘Afromedia is setting the pace’’ He says.
The MOU signing ceremony which took place at the LASAA office was witnessed by representatives of both organisations.