The Chief Executive Officer, Nimbus Media Ltd, Wale Adegoke, has said smart city adoption will boost the growth of the nation’s outdoor advertising industry.
In a statement, he said that the growth of smart cities should be encouraged across the federation.
“Technology and innovation have introduced new tools for the outdoor advertising market, which will be best employed with the development of smart cities,” he stated.
He said as more state governments and communities embraced smart city technology, the increasing investments in the nation’s outdoor advertising business may quadruple in the coming years.
He explained that according to the Lagos State Government, its smart city project had made 80 per cent progress with the deployment of fibre internet and other digital infrastructure.
Adegoke said this would help reduce redundancy in various sectors of the economy. According to him, outdoor advertising accounted for 28 per cent of overall advertising expenditure in the nation in 2018.