The online advertising industry is grappling with several challenges, from brands pulling ads off platforms like X due to being displayed next to unsuitable content to consumers growing increasingly frustrated with the constant barrage of online ads. However, despite these difficulties, there’s a bright spot in the form of billboard advertising.
The global billboard and outdoor advertising market is seeing strong growth. According to Grand View Research, the market was valued at $38.32 billion in 2024 and is expected to grow at a compound annual growth rate of 8.1% from 2025 to 2030. One notable player in Nigeria’s billboard advertising sector is Loatsad Promomedia, a company partly owned by Seyi Tinubu, the son of President Bola Tinubu.
Loatsad, launched in 2013 with co-founder Aderenle Olusoga, initially aimed to create a renowned outdoor advertising company that could expand throughout Africa. Over the years, the company transitioned from static billboards to modern LED boards, transforming the advertising landscape. Seyi Tinubu, who became the CEO after Olusoga left, recalls the company’s evolution, saying they wanted to offer more powerful advertising solutions.
With significant growth, Loatsad now employs over 120 individuals, expanding into media, engineering, and advertising through acquisitions such as SDM Communications, Stenturion Engineering, and E-motion Advertising. The company has built a strong presence on Lagos Island, offering both static and LED billboards and working with high-profile brands like Nigerian Breweries, Access and FCMB Banks, GLO, and DIAGEO.
Loatsad has earned recognition in the industry, winning awards such as the Business of the Year at The Entrepreneur Africa Awards 2019. The company’s success has been fueled not only by Seyi’s leadership but also by the hard work of the dedicated team behind it. Loatsad has also contributed to local communities, such as renovating the IT department at Pacelli School for the Blind and a school in Bariga.
Looking ahead, Seyi and his team are focused on expanding the company and entering the digital advertising space, including online and mobile platforms. The LED billboard sector, which helped launch Loatsad, remains a key asset and is poised to guide the company’s growth for years to come. With the current growth projections, Loatsad seems well-positioned to continue its upward trajectory.