November 23, 2018 / 4:06 PM / 19 days ago

France's JCDecaux signals Nigerian ambition with traffic service

FILE PHOTO: The logo of outdoor advertising group JCDecaux is seen on an advertising panel at Courbevoie near Paris, France, May 16, 2018. REUTERS/Charles Platiau/File Photo

LAGOS (Reuters) - French outdoor advertising company JCDecaux (JCDX.PA) plans to provide real-time traffic information in Lagos and install solar-powered bus shelters and automatic public toilets as it targets one of Africa’s largest economies.

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 115 million euros ($130 million).

“We are delighted to be entering the Nigerian market and particularly Lagos, a thriving city in many respects,” JCDecaux CEO Jean-Charles Decaux said in a statement on Friday.

“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,” he added.

Nigeria’s most populous city, Lagos, is notorious for its gridlock. JCDecaux said it aims to provide real-time traffic information to commuters at strategic points across the city.

Reporting by Didi Akinyelure; Editing by Alexander Smith

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