The Delta State Government in Nigeria announced recently it will be raking in 65 million Naira (US $ 206,185.85) annually from its LED display boards installed throughout the state, reported Channels21 TV.
The new displays were deployed as an alternative method to generate revenue, said a state official.
The Delta State Government seal. (Image Courtesy of Delta State Government)
Aware of Nigeria’s economic downturn, the State Government turned to measures spurring Internally Generated Revenue (IGR), said Newworld Safugha, the State Commissioner for Energy.
The state government signed an agreement with a private investor, who will take over the State Government owned LED Display Boards that are installed in strategic areas of the state.
“In the area of dissemination of information and advertisement on the LED Display Boards across the State, a leasing agreement has been signed with Messrs Wall’s Integrated Service Limited, to utilize the LED Display Boards for advertising purpose,” Safugha told reporters.
The LED displays will be used to broadcast public information and advertisements is projected to generate a total revenue of 65 million Naira annually, explained the Commissioner.
The facilities will be given out on a lease term will attract 50 million Naira and 15 million Naira from urban and rural areas respectively, he added.
“Such revenue will boost the gross earnings of the state,” he said.
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