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LASAA Begins Awareness Campaign On Regulation Of Outdoor Adverts

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LASAA Begins Awareness Campaign On Regulation Of Outdoor Adverts

Lagos State Signage and Advertisement Agency (LASAA) has begun the first phase of an awareness campaign to sensitise the general public to the need for compliance with regulations guiding outdoor advertisement in the state. The regulations cover on-premise and off-premise signage displays as well as the registration of mobile adverts.

Speaking during one of the agency’s awareness campaigns in Lagos, the Managing Director of LASAA, Prince Adedamola Docemo, said it was important to sensitise and educate the public on the need to comply with the LASAA law before the agency begins enforcement.

He noted that the exercise would provide another opportunity for LASAA to remind clients of the importance of always being on the side of the law as good individual and corporate citizens.

He urged Lagosians to cooperate with LASAA so that the state government could successfully deliver the dividends of democracy to them through its revenue optimisation effort.

Also, Deputy General Manager, Corporate Communication and Strategy of LASAA, Mr. Temitope Akande, noted that LASAA had a tradition of embarking on an awareness campaign to clients and the public in general in February and March every year. The campaign will focus on the need for clients to be on the side of the law as enforcement would commence afterwards, he said.

“Our plan is to utilise all available mediums of communication to sensitise the public to the need to register their advertising business signboards, temporary campaigns, road shows and billboards as well as branded vehicles to avoid falling foul of the enforcement drive that will follow this awareness exercise. We plan to engage our clients across all platforms to achieve our objective,” Akande said.

The Head of Mobile, Small Format and Temporary (MS&T) Department, Mr. Adebayo Aluko, said the purpose of the awareness programme was to ensure that at least 95 per cent compliance was achieved for all branded vehicles operating in Lagos State and also boost the revenue of the agency vis a vis that of the state.

READ ALSO: Sacked Ganduje’s Aide More Courageous Than Adesina, Garba – Lamido

“Hopefully, the enforcement on branded vehicles without the 2021 mobile advert permit within the state will be minimal,” Aluko said.

Explaining that branded vehicles without valid permits are usually grounded or impounded and made to pay the amount due before the vehicle is released, Aluko appealed to owners of branded vehicles to follow due process in good time and avoid enforcement and sanctions.

He said the agency condemned the use of fake mobile advert stickers, noting that the display of fake mobile advert permit stickers is a criminal offence that is punishable under the law.

“For under-declaration, vehicle owners are also sanctioned appropriately and issued a fine in line with the agency’s policy and for clients who comply on time and are truthful and sincere with the number of branded vehicles they have, the agency gives an incentive in the form of a discount,” he said.

Aluko said the response of Lagosians has been very impressive considering the impact of the Covid-19 pandemic on businesses. He said the agency has been up to speed with its revenue target and expressed the hope that the target would be surpassed.

He added that LASAA is not focusing on revenue alone but also on the regulation of the environment, in line with its mission. He advised clients to ensure that their branded vehicles always look neat and presentable and to avoid any form of indecent advertisement.

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NBS Puts Rate Of Inflation In One Month At 19.64%

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NBS Puts Rate Of Inflation In One Month At 19.64%

Inflation rate rose to 19.64 per cent in July 2022 from 18.60 per cent in June 2022, according to the National Bureau of Statistics (NBS).

It was 1.82% increase from that of the previous month, said the Bureau in its report titled “CPI July 2022.”

The report noted the highest increases were recorded in prices of gas, liquid fuel, solid fuel, passenger, transport by road, passenger transport by air, garments, cleaning, repair and hire of clothing.

Inflation rate which measures Composite Price Index (CPI) was the highest since September 2005.

The report said: “In July 2022, on a year –on- year basis, the headline inflation rate was 19.64%,” It added that “This was 2.27% points higher compared to the rate recorded in July 2021, which was (17.3%).

It added that on a month-on-month basis, the headline inflation rate in July 2022 was 1.817 %, which was 0.001% higher than the rate recorded in June 2022 (1.816 %).

The NBS said the percentage change in the average CPI for the twelve months period ending July 2022 over the average of the CPI for the previous twelve months period was 16.75%, showing a 0.46% increase compared to 16.30% recorded in July 2021.

According to the report, increases were recorded in all Classification of Individual Consumption by Purpose (COICOP) functions and all-items basis.

 READ ALSO: CBN Raises Interest Rate To 14% To Tame Rising Inflation

It added that on a year-on-year basis, in the month of July 2022, the urban inflation rate was 20.09%, this was 2.08% higher compared to 18.01% recorded in July 2021.

The report noted that on a month-on-month basis, the urban inflation rate was 1.82% in July 2022, this was a 0.0002% decline compared to June 2022 (1.82%).

It said in July 2022, food inflation on a year-on-year basis was highest in Kwara (29.28%), Akwa Ibom (27.22%), and Kogi (26.08%), while Kaduna (17.16%), Jigawa (17.46%) and Anambra (19.25%) recorded the slowest rise on year-on-year food inflation.

The bureau said on a month-on-month basis, July 2022 food inflation was highest in Kwara (3.90%), Delta (3.61%), and Benue (2.94%), while Taraba (0.14%), Gombe (0.94%), and Niger (1.13%) recorded the slowest rise on month-on-month inflation.

 

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Debt Profile Under Buhari Worrisome – CBN

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Yoruba Leader Writes Buhari, Seeks Talks Over Emergence Of Yoruba Nation

Nigeria’s increasing debt profile under President Muhammadu Buhari is a source of worry to the Central Bank of Nigeria ( CBN) .

This was disclosed in a communique by the CBN’s monetary policy committee  released on Wednesday.

“The committee noted the Federal Government’s increasing debt profile and expressed concerns over debt sustainability given that global uncertainties remain elevated”, the apex said.

The financial regulator urged the federal government to take on urgent measures to cope with debt burden.

READ ALSO: ASUU Strike May End Soon As Buhari Gives Education Minister Adamu Deadline

“The MPC thus reiterated its call to the Federal Government to urgently diversify its revenue sources through various initiatives, such as, the development of a viable tax framework for the extractive and mineral export industries, to strengthen its fiscal buffers.”

As at March 2022, Nigeria’s total public debt hit N41.60 trillion, according to the Debt Management Office.

The Buhari regime has often rebuffed concern about its acute borrowings, justifying that the funds are invested in capital projects with lasting impact.

 

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BREAKING: CBN Raises Interest Rate To 14% To Tame Rising Inflation

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BREAKING: CBN Raises Interest Rate To 14% To Tame Rising Inflation

As a measure to tame rising inflation, the policy-setting committee of the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), which measures interest rate, from 13 percent to 14 percent.

The monetary policy rate (MPR) is the baseline interest rate in an economy, every other interest rate used within an economy is built on it.

READ ALSO: CBN Raises Benchmark Interest Rate To 13%

Addressing journalists on Tuesday after the committee’s meeting at the CBN headquarters in Abuja, Godwin Emefiele, governor of the apex bank, said the hike in interest rate would help tame rising inflation.

 

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