Global OOH Media ramps up investment in Nigeria
Global Out of Home Media (Global), one of the largest African Out-of-Home media owners recently undertook a major refurbishment exercise of its holding in Abuja. The investment saw the media owner upgrading its entire network of 3x6m and 7x5m billboard sites across the city. Abuja is a well-planned city with a population of over 2 million people, where transportation, housing and other infrastructure are among the best on offer in the West African region. To complement the rapid growth and highly desirable destination, Global embarked on a process in which it completely refreshed and internally illuminated all its sites.
In a city that’s sees large numbers of people taking to the streets as they head out into the pulsating night-life of the city, the illuminated billboards add to the experience of an exciting and vibrant evening out. The illumination also extends the visibility of the advertising for brands, who now enjoy 24/7 exposure.‘Our investment in Abuja ensures that we are delivering a world class product in Nigeria, one of the fastest-growing markets in the entertainment and media universe. Last year it saw 15.7 per cent growth, reaching a value of US$3.8 billion. With an 11.0 per cent CAGR anticipated, globally only Indonesia at 13.2 per cent CAGR is expected exceed this pace of growth,’ noted Sylvain Rouch, GM at Global.
Abuja – considered one of Africa’s top 6 property investment hotspots – is experiencing a major housing gap as demand for luxury real estate soars due to senior government officials and expatriates seeking to invest in the city. It is also known as the start-up capital of Nigeria, with a host of technology investment and development start-ups calling the area home. This is a city that is experiencing massive and rapid growth. With a number of booming industries including FMCG, consumer electronics, tourism and agriculture among others, Abuja also accounts for 10 per cent of all new smart phone sales over the last year in Nigeria, Africa’s second largest mobile market, valued at over $4 billion.
Abuja has an estimated GDP of $12 billion, with an estimated GDP per person of $5,853. From an OOH perspective, CAGR growth of 7.8 per cent is expected, providing for a healthy future, one which Global has already started preparing for. ‘Abuja is a key market in Africa for any brand looking to enter the highly valuable Nigerian market, consolidate its existing position or grow market share. Our investment in the newly illuminated Glo-Lites, positioned in high-traffic locations, reaffirms our leading position in the market while through our holding, providing the coverage and scale advertisers seek in markets such as this,’ concluded Rouch.