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| 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
By Anthony Nlebem
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