Outdoor advertising company, JCDecaux has announced plans to provide real-time traffic information, install solar-powered bus shelters and automatic public toilets in Lagos as it targets one of Africa’s largest economies.
JCDecaux CEO Jean-Charles Decaux said the firm aims to provide real-time traffic information to commuters at strategic points across the city of Lagos notorious for heavy traffic.
Lagos is the nation’s commercial capital with a growing population has continued to suffer from poor basic infrastructure . Attempts by previous administration to improve on the level of infrastricture in the state has yielded little or no result.
JCDecaux said it had entered Nigeria in partnership with private Lagos-based investment and advisory firm Grace Lake, targeting a highly fragmented outdoor advertising market estimated to be worth $130 million.
“We are delighted to be entering the Nigerian market and particularly Lagos, a thriving city in many respects we have developed a unique service to bring Lagos the best of our expertise in street furniture and an unprecedented traffic information system, a first for Africa and for JCDecaux”
JCDecaux is the world’s largest Out-of-Home advertising company, reaching relevant audiences in over 80 countries. The company was founded in 1964 in Lyon, France by Jean-Claude Decaux and over the years it has expanded aggressively, partly through acquisitions of smaller advertising companies in several countries. Its headquarters is located in Neuilly-sur-Seine, a suburb of Paris, France.
Grace Lake Partners (GLP) was founded in 2014 and is an investment and advisory firm based in Lagos. GLP has made several investments in the infrastructure, healthcare, media and retail sectors.