Loatsad Promomedia Limited
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| ISIN | 🆔 |
| Industry | Out-of-home advertising |
| Founded 📆 | 2013 |
| Founders 👔 |
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Area served 🗺️ | |
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| 🌐 Website | [Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). ] |
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Loatsad Promomedia Limited is a Nigerian out-of-home advertising company based in Lagos. It operates billboards, including LED boards, and related advertising services.[1] It was founded by Seyi Tinubu, a son of President Bola Tinubu, and Adenrele Olusoga.[1] In 2019, it acquired the advertising firm E-Motion Advertising, an event reported by Techpoint Africa.[2] Marketing Edge listed the company among ten out-of-home agencies in Nigeria in 2021.[3]
History
Loatsad Promomedia was founded in 2013 by Seyi Tinubu and Adenrele Olusoga.[1] The company began with static advertising boards and lamp posts before expanding into digital advertising, including LED billboards. In a 2018 interview with The Business Year, Seyi described this development and discussed the company's growth.[4] The company obtained a concession to operate advertising at the Lekki toll gate after approaching the Lekki Concession Company and the Lagos State Signage and Advertisement Agency.[4] Olusoga later left the company, while Seyi remained its chief executive, according to The Guardian Nigeria.[1] In April 2024, The Punch reported that Sophie Ejegi was appointed managing director, succeeding Olusoga, who had completed his tenure. The newspaper described her as the company's first female managing director.[5]
Acquisitions
Techpoint Africa reported in November 2019 that the company had acquired E-Motion Advertising, an outdoor advertising firm founded by Sim Shagaya in 2005. The terms of the acquisition were not made public.[2] The Guardian Nigeria reported that the company had also acquired SDM Communications, a media agency, and Stenturion Engineering, an LED board distributor.[1] In a 2021 interview with Tribune, Seyi said the E-Motion purchase was paid for in instalments. He also said that the removal of several Lagos roundabouts after the acquisition reduced the value of some of the acquired advertising assets.[6]
Lekki incident 2020
In October 2020, Loatsad was blamed for its role in an incident where security forces opened fire on those involved in a peaceful protest. at the Lekki Toll Gate in Lagos. The company's electronic billboard, which provided the main lighting for the area, was switched off at a critical moment, leading to allegations that this was done to provide cover for the security forces. Loatsad's explanation was that they had switched off the billboard to comply with a curfew announced by the Lagos State Governor.[7]
Operations
The Guardian Nigeria reported in January 2025 that the company employed more than 60 people, with the total rising to more than 120 when staff of acquired companies were included.[1] Tracxn, a company database, listed 34 employees in October 2026.[8] The Guardian Nigeria listed clients including Nigerian Breweries, Access Bank, FCMB, Glo and Diageo.[1] The company has also been associated with the STEP initiative, a pitching competition for technology entrepreneurs. Forbes Africa reported in 2018 that a start-up won ₦5 million in the competition.[9]
Controversy
In a 2021 interview with Tribune, Seyi was asked about claims that the company received advertising sites because of his father's influence. He denied using his father's name to obtain sites.[6] The Guardian Nigeria noted that, as the president's son, Tinubu and the company faced greater scrutiny than comparable businesses.[1]
References
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 Uzochukwu, Maxwell (25 January 2025). "Billboards boom again: Loatsad and the outdoor revival". The Guardian Nigeria. Retrieved 10 March 2025.
- ↑ 2.0 2.1 Mátùlúkò, Múyìwá (17 November 2019). "Konga founder Sim Shagaya's earliest company, E-Motion Advertising acquired by Seyi Tinubu's Loatsad Promomedia". Techpoint Africa. Retrieved 2 December 2019.
- ↑ Tathagata, Ralph (23 July 2021). "Top 10 Out-of-Home agencies in Nigeria". Marketing Edge. Retrieved 14 August 2021.
- ↑ 4.0 4.1 "Digital advertising in Nigeria". The Business Year. 27 September 2018. Retrieved 5 January 2019.
- ↑ Abimbola, Oluwakemi (10 April 2024). "Loatsad Promomedia appoints first female MD". The Punch. Retrieved 2 May 2024.
- ↑ 6.0 6.1 "Why I ventured into advertising —Tinubu, CEO/Founder, Loatsad Promo Media". Tribune. 26 April 2021. Retrieved 3 June 2021.
- ↑ "Lekki shootings: Seyi Tinubu's firm explains reason for switching off billboard". PUNCH. Retrieved 3 November 2026.
- ↑ "Loatsad Promomedia – Company Profile". Tracxn. 10 October 2026. Retrieved 12 October 2026.
- ↑ Hyde, Peace (19 December 2018). "With 190 million people, Nigeria most likely to give birth to unicorns". Forbes Africa. Retrieved 8 January 2019.
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