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