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Sponsored Why This Is A Great Time To Invest In Nigerian Sports

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A great time to invest in Nigerian sports

The national football team of Nigeria the Super Eagles is dubbed as the best team in Africa. In 1985, Nigerian won the first U-16 World cup and two years later it came in the second place. During this year's World Cup the Super Eagles were one of the few teams that represented Africa. It is what made enthusiasts of Nigerian sports betting online want to bet more, and it is something that we hope we can see a lot more of in the near future.

While there are plenty of other clubs that you might want to invest in – like say Arsenal that has been a favorite among many for decades now – Nigerian football has a charm of its own that you just cannot ignore.


What Makes this a Great Time to Invest in Nigerian Sports?

Recently, the Nigerian political climate has been stable as compared to other years. Since the election of President Buhari in 2015, the country saw a peaceful transfer of power.

During the UK-Nigeria Trade and Investment Forum in London, Senator Udoma Udo Udoma convinced his counterparts to invest in Nigeria. The economy of the country is steadily growing again. According to him, investors should seize this economic climate.

However, it is notable that sports in Nigeria almost never receive any support. The only time they get any acknowledgement is when a sports team wins a title. This means that most investors view sports as a corporate social responsibility.

It is time that investors view sports in Nigeria as a business venture rather than a CSR. Moreover, the poor management is visible in all sports events across the country, and it’s only through more money can this be taken care of.

During the Nigerian Economic summit in 2017, the government and private sector explored how the sports industry can boost the economy of the country. Nigerian has a lot of potential in terms of sporting talent and the fans. For instance, Nigerian households spend billions of currency to subscribe to international sports. They include FIFA, UEFA and the Premier League. Moreover, they buy tickets and other memorabilia for friends and family.

It is sad that the domestic revenue earned from domestic sports is very little for the economy. But the country is hoping to change this scenery in the country.

One of the best-earning sources of revenue comes from the entertainment sector. For instance, in 2016, the entertainment and recreational industry contributed 54 billion nairas. Sports has the potential to generate that much and even more.

The government should be the first to invest in the sports so that they can attract foreign investors. The role of the government should be to invest in modern facilities and nurturing talent. Moreover, the opportunity to bring sports back on TV should be a priority. Kwese TV is one of the sports channels which are giving big giants like Supersport a run for its money.

The government is pushing for new marketing plans which will tap the industry and attract more investors.
 

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