Growing Nigerian Sports Through Effective Corporate Partnership

Sports development

Like European, Asian and South American nations where Sports business is a major revenue spinner, Nigeria too can revolutionise sports and benefit from the revenue windfall.

For Nigeria, a country of over 180 million people with a growing middle class and about 65 percent youth population, sports hold huge prospects. Nigerians’ interest in sports is legendary. Sports have been known to be a uniting factor in the country defying ethnic, regional or political divides.

Nigerian sports industry, especially in football over the years has seen decline from what it used to be in the early 80’s and 90’s.

No doubt, investing in football business can help grow impact on the economy by creating jobs, but private sector participation is key in driving the sports industry.

At a recent Nigeria Economic Summit NESG stakeholders meeting, where economic potentials in sports business and how it can impact on the economy was discussed, the stakeholders from the public and private sector unanimously agreed that government interference is hindering the development of the sports industry in the country and pointed out that the industry should be private sector-driven while government provides the structure, policies and enabling environment to attract investors.

Panelists at the forum highlighted the business potential in Nigerian sports that can be exploited to drive future economic growth and youth development.

They pointed out that capital investment is needed in sports merchandising, media and facilities, stressing that it was the best model to financing sports to drive revenue generation, employment and business opportunities.

Analysts challenged that there should be a system in place to drive potential investors into Nigeria sports business.

Amaju Pinnick, president, Nigeria Football Federation (NFF) mentioned that the potential in Nigerian sports is limitless, adding, however, that the government needs to create enabling environment for sports industry to thrive.

“Twenty-five years ago, the British government invested £200 million in the Premier League and today, the EPL is worth £8 billion. If we create enabling environment with proper structure, sports can contribute significantly to Nigeria’s GDP more than any other sector,” said Pinnick.

“We must engage reputable brands to drive sponsorship for the national team. If every geopolitical zone concentrates on its strengths and harness them properly, Nigeria will fly the flags high at international competitions and thus get global attention for investors to come in and invest,” he added.

Aiteo Group, an integrated energy solutions company took the burden to grow Nigerian football and give it a face lift, and in 2017 signed a five-year mega sponsorship deal worth N2.5 billion with the Nigeria Football Federation (NFF) to boost football development in the country.

Also, few months back, news broke that the Super Eagles technical adviser, Gernot Rohr was owed three months salaries from January through March, 2017, amounting to $141,000 due to inability of the NFF to fund his salaries. It was even more shocking when the NFF admitted it had no idea how to pay the bonuses and allowances of our national team during the Africa Cup of Nations and World Cup qualifiers.

The deal has helped to alleviate the issues of non-payment of salaries of all national team coaches.

Before now, the Super Eagles have missed out in two African Cup of Nations and the last edition of the FIFA World Cup in Brazil owing to poor performances and inability of the Nigeria Football Federation to foot the bills of national team coaches.

Since the timely intervention from Aiteo Group, the Super Eagles have improved tremendously in their performance and have restored the confidence of esteemed Nigerian fans. Even though the national team did not live up to its billing at the World Cup in Russia, there are positive signs that football in Nigeria will continue to thrive.  

In Nigeria today, school sports have gradually slipped into oblivion because of the dismal level of sports sponsorship by corporate organisations. In countries where sports have been successful, private sponsorship has been the major driver. Rather than do social corporate responsibility in areas that have little or no effect, these companies can help transform the lives of potential athletes.

But, what do corporate organisations stand to gain from sponsoring sports? Every year the U.S. Open comes to Queens, New York and every year businesses invest millions of dollars in sponsoring it. But do these companies get any tangible return on their investments? If not, then why do they even do it?

The truth is that these brands all want to connect their consumers with their “passions,” one of which is apparently tennis. They also hope to boost brand engagement and brand awareness. J.P. Morgan Chase is the sponsor of the men and women’s singles finals and hands out the check to the winners.  Frank Nakano, Chase’s head of sports and entertainment, says “Sponsorship drives revenue, it’s not just marketing. And our CMO would tell you that.”

The news that Cadbury’s had agreed a sponsorship deal with the Premier League was met with a degree of negative publicity following criticism from health campaigners and fans alike. However, the brand maintains its first tie-up with football will be fruitful and ensure it remains relevant.

In January 2017, the chocolate maker sealed a three-year deal with the global sports brand, describing it as “an incredibly exciting chance” to be part of moments such the Golden Boot and Golden Glove awards.

It sees these moments and upcoming marketing investments as a chance to move the brand further into healthier lifestyles, building on some of the themes it explored around its sponsorship of the London 2012 Olympics.

Cadbury brand director Francesco Vitrano said of the new deal: “For over a hundred years Cadbury has been about bringing little moments of joy to people’s lives, something that fits well with the joy created by Premier League football every day – whether it’s a moment of magic that turns a match, watching a game together with loved ones or just debating the weekend’s goals with friends.

“This partnership opens up fantastic opportunities to bring those moments of joy to life in new and different ways – in-store, on our packaging, in the community and other ways we hope will surprise and delight our customers.”

By Anthony Nlebem

Sarri-Ball: The Future of Chelsea’s Style of Play

Maurizio Sarri

Despite stubborn resistance from Bournemouth on Saturday, Chelsea extended their 100 percent winning record in the season’s Premier League with a 2-0 win at Stamford Bridge. However, manager Maurizio Sarri insists it will still take three months for the players to fully understand his unique system.

This system is known as Sarrismo or Sarri-ball. Made famous from his time in Italy, managing Empoli and then Napoli, this style of play is a marked difference from Antonio Conte’s pragmatic approach. There have been brief flashes of the players beginning to understand his system, but there is still a way to go.

Sarrismo Defending

Perhaps the area that will take longest for Chelsea’s players to adapt to is Sarri’s style of defending. It is a huge change from former manager Conte’s style, sitting deep with a line of five and a midfield shield. Sarri’s defending while Napoli boss was much more aggressive. The two keys points are high pressing and compactness.

Aggressive and Coordinated Pressing

The press starts with his forward line, where the front three pressures the opposition defenders into mistakes. This is done by pressing the player in possession, while the other forwards and midfielders cut out available passing lanes. With energetic forwards available in Pedro and Willian, and the irrepressible N’Golo Kanté behind them, Chelsea’s press can be relentless. Arsenal found this out in their 3-2 loss to Chelsea in August.

As well as enormous physical fitness, Chelsea’s players will need to maintain concentration. Only then can they effectively cut off the passing angles available to the opposition. Jorginho will sit at the base of midfield and the front five players will pivot around him. They will hope to win the ball back high up the pitch.

Remaining Compact

The other prerogative of Sarri’s defensive style is remaining compact. Chelsea defend with a high defensive line and minimise the space between their forwards and defenders. This is in an attempt to reduce the space between the lines that creative opposition players often fill. Defending narrow and tight, the team shuttles around the pitch as one unit.

Despite its effectiveness, there are vulnerabilities. With space in behind, balls down the channels that turn Chelsea’s central defenders could cause problems. They found this out in the Community Shield loss to Manchester City. Antonio Rudiger and David Luiz, should they continue as Sarri’s central pair, need to learn a balance between playing an offside trap and dropping deeper.

‘Both Application and Fun’ – The Offensive Beauty of Sarri-Ball

Sarri here describes his footballing philosophy so eloquently. What drew so many fans to watching Napoli during Sarri’s stint in charge was the fluidity of how they attacked. Although it will take time to find the right personnel to fit into his system, either via squad rotation or the transfer market, Chelsea fans should be excited to watch some beautiful football while led by Sarri.  

A fundamental aspect of Sarri’s attacking style is keeping possession of the ball between his centre-backs. Rudiger and Luiz are more than capable of this, as is promising youngster Andreas Christensen. With such importance placed on keeping the ball in neat triangles between them and regista Jorginho, perhaps the two who are least error-prone may end up starting.

From here, Chelsea will hope to lure the opposition players into pressing their centre-backs. Then, with frantic speed and precision, Chelsea will break forward. Verticality is the most important aspect of Sarri-ball in attack. Chelsea will look to move the ball forward as quickly as possible, and will happily knock the ball around their box until the opportunity presents itself. Being comfortable on the ball will be crucial, as shown below by Napoli last year.

 The ‘Vertical Tiki-Taka’

Jorginho will aim to play through the opposition press with incisive passes from the base of midfield, and quick one-twos in the final third will pull defenders out of position. This was particularly evident in both their goals against Bournemouth. Intricate passing triangles, particularly down the left side, marked out Napoli’s attacking structure under Sarri. Marcos Alonso has benefitted from surging forward runs from left-back, with two assists and a goal to his name already.

Eden Hazard’s quick feet could be used to devastating effect when combining with the advancing midfield via these triangles. Hazard may even lead the line eventually, playing a similar role that Dries Mertens did while under Sarri at Napoli. The Belgian scored 28 goals in one season at Napoli, after Sarri changed him from an orthodox winger into an out-and-out striker.

Sarri is incredibly demanding and single-minded in how his teams must play. Should Chelsea’s squad adapt to the immense physical demands of Sarrismo, as well as the sharp passing patterns further up the pitch, the Stamford Bridge faithful can enjoy some of the most attractive football their side has ever played. Culled from lastwordonfootball.com

Happy Birthday My Daughter! #MyCocacolaMoments

Coca-Cola

It was just one of those Saturdays when I wanted to sit on the couch and watch the English premier league. I cannot really call myself a die-hard fan but yes I am an ardent lover of the round leather game.

Nothing fascinates me more than football formations and understanding every intricate play and moves executed by the players on the pitch. I am appreciative of footballers who work tirelessly and cover every blade of grass.

This season, with the growing number of attacking talents in the ranks, every team in the premier league looks fierce. For me, I love footballers who are not only highly skilled but also display grit, guts and gusto on the field of play.

So, I was optimistic that the match between Chelsea FC and Arsenal FC at Stamford Bridge will live up to its pre-match hype. But, just before kick-off, my lovely wife walks into the sitting room with a cheeky smile on her face.

"Baby, what’s up now? What’s happening?", I asked. "Nothing ooo. I feel like drinking Coca Cola right now", she replied. I muttered under my breath, “This woman don come again. Wetin be this now? Not that last bottle in the fridge”.

"Baby, did you not hear me? I want to take the Coke in the fridge”, she yelled out. My wife resents the premier league. She can’t stand scenes of me yelling at the top of my voice when the referee makes a bad call or the wild dancing and jumping around the living room when my team (The Blues) scores.

For her, I should save that energy for her in "za oza room" and when the National Team is playing. I don’t blame her one bit. But right now, I was in a big dilemma. Should I turn down her request and damn the consequences?

Or, should I accede to her request and enjoy the football game? The latter was the most practical thing to do under the prevailing circumstances. “But, why should she always have her way all the time”, I thought to myself.

In retrospect, I should have just handed her the bottle of Coca-Cola. To make her see reasons why I needed the bottle of coke more, I said to my wife, “Baby, na wah for you ooo! You had a bottle yesterday now.

“You know what they say a coke a day keeps the doctor away”, I said smiling sheepishly. Her stare alone said it all. It was the height of desperation. How could I have come up with that? So, lame! What was I even thinking?

My daughter who also shares my obsession for football chuckled. “Daddy, Daddy, YOU DON’T LIKE TO SHARE! And it is an ‘Apple a day keeps the Doctor away’. Funny Daddy!”, she stated with her eyes still glued to the television.

I was so embarrassed at that moment. “Mabel, I know that but I was only trying to make a point to your mum”, I tried to explain to her. At that moment, she couldn't be bothered. For years, Coca-Cola has encouraged people to share happiness and has even provided surprising ways to share a Coke.

Perhaps, my daughter’s counsel made a greater impression on me. Happy birthday to my beautiful and witty daughter! When you are sad, I am sad; and when you are happy, I feel untold joy.

Every parent wishes their child to know only peace and happiness in their life, and I am no exception. May your birthday herald a year of great health, wealth and happiness for us all, AMEN!

HAPPY BIRTHDAY MABEL UCHENNA UZOR! #MyCocacolaMoments

Supporting Businesses, Boosting Economic Growth

Rice farming 

Some of the greatest success stories emanate from the most improbable of circumstances, and UMZA International Farms is perhaps one such examples. Funded by Fidelity Bank Plc, the Kano based rice mill was conceived out of a former public servants’ fervent desire to make a positive change in society.

Over the years, the agribusiness company has evolved into a bustling entity that currently plays fundamental roles in the country’s quest to attain self-sufficiency in rice production. Apart from creating job opportunities for young Nigerians, UMZA Farms has its sights set on becoming a major rice exporter.

This is a positive development as the non-oil sector has huge potential of earning Nigeria the much needed Foreign Exchange (FX), thus assisting Nigeria reduce its over-dependence on oil for national income. “Our history is in complete without Fidelity Bank, which supported us since inception in 2010.

“With the help of the Bank, we have grown the business extensively. We started the business with a capital of N500 million provided by the Bank and today, our turnover is up to N10 billon,” said the Chairman of UMZA International Farm, Mohammed Abubakar Maifata in an interview recently.

The endorsement and sentiments expressed by Maifata further underscores the importance of banks in any economy. Banks’ role of mobilizing savings and channeling requisite capital to productive investments and businesses. This redirection of capital to where it is most required is very critical for developing economies. This role is being played very actively since inception.

MSME Focus

It is well documented that no nation can expect to grow in a sustainable manner if Micro Small and Medium Enterprises (MSMEs) are denied access to capital or are permitted access at prohibitive rates. Nigeria’s double-digit interest rates at 14 percent remains a disincentive to MSMEs and banks.

To address this funding constraint, Fidelity Bank Plc, over the years has taking advantage of the myriad of intervention scheme, typically offered at single digits by government institutions such as the Central Bank of Nigeria (CBN) to enhance MSMEs productivity and competitiveness in the global marketplace.

Whilst Fidelity Bank is actively funding projects in Power, Oil and Gas, Telecommunications and other sectors, one area that has benefitted seriously from the bank is the Micro Small Medium Enterprises (MSMEs) sector. Total credit to MSMEs in diverse sectors of the Nigerian economy is well over N52 billion. 

Agribusiness

President Muhammadu Buhari in November, 2015 launched the CBN Anchor Borrowers Programme (ABP), which provides loans at single digit interest rate to farmers. This laudable project seeks to create a linkage between anchor companies actively involved in the processing and small holder farmers (SHFs) of the required key agricultural commodities.

Since inception, the project has disbursed about N45.5 billion, released through 13 Participating Financial Institutions to about 218, 000 farmers cultivating nine commodities across 30 states. As one of the participating Banks in CBN’s ABP, Fidelity Bank has continued to identify and fund bankable project in Nigeria’s burgeoning agriculture sector. 

Rice-specific injected funds of N3.5 million has increased production of the grain from 1.5 million to 4.5 million. In the Nigeria Agriculture Sector report released by the Bureau of Statistics, 29 of 36 states of the country are currently engaged in the cultivation of rice.

The total cultivated areas were estimated at 2,432 thousand hectares, producing about 4,472 metric tonnes per yield. Cumulatively, the fund disbursed by Fidelity Bank has helped Nigeria to save at least N216 billion from rice imports alone. Furthermore, the massive production has also created a new breed of millionaires and lifted many out of poverty.

In addition, Fidelity Bank has disbursed the sum of N2.5 billion out of CBN’s N220 billion Micro, Small and Medium Enterprises Development Fund (MSMEDF). CBN MSMEDF is a single digit interest rate of nine percent (all-in) facility that can be accessed by Nigerian-owned businesses.

Overall, as proof of its commitment, the Bank’s SME customer footprint as at date is in excess of 600, 000 customers across the geographical regions of the country. The bank currently boasts of a 50 percent SME loan to deposit ratio, which is an indication that the lender remains highly committed to supporting MSMEs in Nigeria, particularly in the area of access to finance.

Strategy

The Bank’s long-running support for the growth of small businesses in Nigeria stems from the recognition that MSMEs are critical agents of economic development and transformation. Providing valuable insights into Fidelity Bank’s approach to supporting MSMEs in the country, the Bank’s Chief Executive Officer, Nnamdi Okonkwo said that the lender set up a full-fledged SME Banking Division to provide one-on-one business advisory to its customers.

Appropriately dubbed Managed SME, the Division has been mandated to build a new crop of entrepreneurs that will birth and power the next generation of conglomerates in Nigeria. In fulfilling this mandate, the Division has developed a suite of tailored low-cost SME banking offerings that has all-round capacity building as its core and straddles the following: Tailored Business Management Capacity Building, Tailored Financing, Market Access, MSME-focused Liability Products and Empowerment Programmes. 

Today, the Bank is deepening knowledge sharing entrepreneurial community

as over 3 million listeners acquire requisite skills to manage their respective businesses on its weekly SME Forum aired on Inspiration FM. “We want to guide aspiring entrepreneurs and business owners on how to run successful businesses. Our goal is to build requisite capacity in order to create the Aliko Dangotes’ of tomorrow”, the Fidelity helmsman stated in a recent interview.

Through its free, dedicated business advisory service offerings and other capacity building initiatives such as SME focused conferences held across the country, the bank has assisted MSMEs raise their level of competitiveness in the global marketplace. On his own part, Fidelity’s Divisional Head, Managed SMEs, Trade Missions & Multilateral Agencies, Osaigbovo Omorogbe said the Bank was really passionate about building Nigerian entrepreneurs.

“We have committed ample human and material resources to run the products and platforms in order to drive this objective. “Its short-term goal is to become the most innovative SME banking business in Africa in the next two years, whilst helping our clients build sustainable businesses of the future. Its long-term goal, as alluded to, earlier on, is to see some of these MSMEs transform into major corporations in the next few years”, he explained.

As part of efforts to attain these objectives, the Bank has restated its support of government’s drive to attain food sufficiency and economic diversification through some of its ground-breaking capacity building and empowerment initiatives for Nigerian MSMEs such as the Dry Season Rice and Wheat Farming Programme in Kebbi State; Youth Enterprise Support Programme (YES-Programme) of the Bank of Industry (BOI); and CBN’s Youth Innovative Entrepreneurship Development Programme (YIEDP).

In recognition of its deep MSME focus and contributions to the development of MSMEs, the CBN recently appointed Fidelity Bank as one of its partner-banks on YIEDP, to work with it, in the pilot phase of the programme and disburse funds to beneficiaries under the scheme.

Export Management Programme (EMP)

In a move hailed by several stakeholders as highly exemplary, Fidelity Bank Plc has devised a strategy to equip customers and non-customers alike with the required skills set to understand the intricacies of exporting the various commodities and minerals which the country possesses in great abundance.

This, the Bank is doing through the Export Leadership Institute (ELI), which was launched in collaboration with Lagos Business School (LBS) and Nigeria Export Promotion Council (NEPC).

Launched in August 2016, the Export Management Program (EMP) is designed specifically to provide impactful, world-class training needed to improve the competitiveness of Nigerian enterprises, particular export-oriented businesses and the associated value players in the global market.

But more importantly, the program seeks to prevent the pitfalls that were prevalent in the past when huge sums of money were lost owing to lack of capacity and knowledge on the part of exporters. Five EMP series have since been held. Over 100 participants have benefited from the knowledge acquired.

Speaking about his experience, Oyewusi Tajudeen of De Epicurean Limited, said: “The program is knowledge-packed, an eye-opener to the essentials. It is totally worth it. I am in the process of achieving my exporting dreams.” For Ndubuisi Chijioke of Jimcol Resources Nigeria Limited, the program was highly encouraging to his aspiration to explore export business opportunities in Nigeria.

“The program has been very informative and encouraging to my aspiration to explore export business opportunities,” Chijioke said. For Amina Ibrahim of Moonstar Nigeria Limited each session proved more informative and interesting. “Every session and every day was better than the last. I highly recommend the program for anyone wanting to venture into exports,” she declared.   

Conclusion

Beyond the numbers and figures that gives credence to the Bank’s exploits in MSME development, the testimonies as exemplified by UMZA and EMP participants provides motivation for the Bank not to rest on its oars. This is because the Bank is convinced that MSMEs are the panacea to the country’s economic woes.

This article was published in a Special Report entitled " Financing The Economy" on The Guardian Newspapers.