The Managing Director of LG News Academy Babatunde Jakande despite the high exchange rate that have seen many businesses folding up or relocating has continued to use LGNA to make impact through self sponsored programmes. Narrating his experience and impact of the exchange rate on it’s educative, informative and entertaining
programmes said :
” In 2011 L G News approached Dana Motors for a barter arrangment. We wanted a KIA vehicle In exchange for free advert placement on L G News newpaper. They agree to the deal but offered only their Pincanto model for the deal .
“I was not keen on that car . In the process of negotiating however, Dana did a background check on L G News without our knowledge. They were impressed I guess because another deal popped up. They would give a brand new car to who ever We declare overall best chairman for the year. Off course terms and conditions applied to the deal. I knew the offer was a marketing strategy because they had invested heavily in the country and Hyundai was a close competitor.
Dana wanted to penetrate the local government system which at that time were buying brand new cars for elected officers. The deal sailed through and between 2012 and 2014, L G News received five brand new cars from Dana Motors on this deal.
Amongst the beneficiaries of LG News Academy car presentation include:
“Hon Bolaji Robert of Otto Awori received the first brand new 2012 KIA as overall best chairman 2012 ostenstibly for building one of the best secretariat building and embarking on a very ambitious poverty alleviation programme, Tunde said.
“Then Ayodele Joseph Apapa council who effectively turned Apapa around with innovative programmes, then Hon Wasiu Eshilokun who received a 2014 KIA ultima for his back to school most elaborate educational programme and then Hon Adigun of Ibeju Lekki . L G News got the fifth”.
Tjak further explained that the partnership was dropped asking that” Why was the deal dropped then? A KIA rio manual as at 2011 was less than two million . The naira was 150/165 to a dollar. All elected officers and councillors got atleast a KIA Rio as official car. shortly after this administration came in, naira lost value as exchange rate was four hundred naira to a dollar. The deal could not sustain because a Rio automatic which was between two point four and seven shot up to four million plus , He declared.
“Today, apart from chairman, all elected official at the council bought tokunboh cars as official vehicle. unfortunately, some tokunboh cars bought barely three months ago have started giving problems. For a particular friend of mine, the gear engine knocked while the car engine of another knocked after hours of being presented with the car”.
“Most of the cars may be off the road before the four year tenure ends.
This is a sad reflection of the realities of a down slop economy. Before, annual budget of a council can be evaluated in millions of dollars but a disgraced naira changed so many things negatively , Business owner , Tunde narrated.