By Ntia Usukuma.
[ad id=”187″]In its bid to redefine outdoor advertising business in the country, Lasaco Properties and Investment Limited, a subsidiary of Lasaco Assurance Group, has invested about N400million to deliver the largest outdoor advertising electronic billboard in West Africa.
The investment is driven by Lasaco Properties Ltd’s passion to ensure that businesses and brands are better projected through modern outdoor collaterals to enhance quick connection with target audience thus leading to good market success.
The site which is located on the vantage hilltop at Iyana Oworo area (popularly called ‘Oko Cole’) of Lagos overlooking Third Mainland bridge, would be handled by Media View Ltd, a major player in the outdoor advertising business in Nigeria.
Speaking at the inauguration of the board last week, the Group Managing Director, Lasaco Assurance Plc, Mr. Olusola Ladipo-Ajayi, explained that Lasaco Group is always ready to partner with any organization on viable projects and businesses that can to add value to the nation’s economy, describing the project as a landmark in the insurance industry.
He stated that Lasaco Group through its property arm, Lasaco Properties Ltd, invested in the project because of its viability and its uniqueness in redefining the concept of advertising in the country.
Explaining further on the motivation to invest in the project, Mr. Ladipo-Ajayi said that unique and strategic location of the site as well as the tract record of the site owner, particularly based on previous and similar dealing which proved fruitful for both parties, boosted the confidence to be committed to the project.
Mr. Ladipo-Ajayi stated that Lasaco Group is proud to be part of this project. He expressed the belief that it will be well received by the advertising world including OAAN (Outdoor Advertising Association of Nigeria) because it is an achievement for the industry. This partnership will also give a boost to our line of business which is insurance’.
In his remark at the event, the Managing Director of Media View Ltd, Mr. Tunde Adedoyin, commended Lasaco Properties Ltd for its boldness in identifying with the dream of delivering the largest outdoor advertising electronic billboard in West Africa.
The inauguration ceremony was witnessed by the Lasaco Group Managing Director, Mr. Olusola Ladipo-Ajayi, Executive Director, Lasaco Assurance Plc, Mr. Biodun Dosunmu, Managing Director, Lasaco Properties Ltd, Mr. Olumide Jaiyeola, Managing Director, Media View Ltd, Mr. Tunde Adedoyin and top advertising executives.
By Ntia Usukuma.