Telema Davies
Sep 8, 2018 · 4 min read

Becoming a member of the Sports Industry Thematic Group of the Nigeria Economic Summit Group, is a dream come true.

At the Summit House, headquarters of the Nigeria Economic Summit Group on August 15 (2018), my partner and I had arrived well ahead of the scheduled time for the inaugural meeting of the Sports Industry Thematic Group of the restructured THECS (Tourism, Hospitality, Entertainment, Creative Industry and Sports) Policy Commission.

The agenda was as clear as daylight - Developing the Sports Industry by 'monetizing’ the passion in Nigeria, and prescient as the pitch excellently presented by the chairperson of the newly inaugurated SITG, Ms. Nkechi Obi - Harnessing and Developing the Economic Potentials of the Sports Industry in Nigeria.

As noted in the invitation letter, we were selected, “in recognition of your knowledge and experience as a key stakeholder in the sports sector”, a timely opportunity to work alongside NESG given their compendium of successes as the foremost home-grown economic think-tank organization in the country.

The NESG has led on public-private initiatives that continue to open various sectors of the Nigeria economy to modern and global competition that promotes sustainable growth, development and prosperity using research-based advocacy methods.

Given the organization's relationship history between the private sector and government, SITG can leverage on the experience of the group to disrupt and restructure the value of the sector from merely recreation-based to a value-driven business initiative; a transformation from a political tool to a national asset bearing recognition from government and a buy-in from the general population.

Why Sports Nigeria needs the NESG?

The NESG’s committment to the “establishment of a modern, globally competitive Nigerian economy” and its mission to achieve “sustainable economic development in the interest of Nigeria through responsible private sector initiative”, has opened several sectors to greater business opportunities. Their advocacy methods which is research-based, has yielded significant returns such as the 2018 amendment of the Companies and Allied Matters Act that takes into consideration modern economic realities.

Such advocacy role has earned the group the government's obligation to participate holistically in matters that bear the interest of the nation. As a non-partisan organization, the NESG continues to explore unconventional approaches to realize its set objectives. NESG has demonstrated that it is the go-to partner for economic transformation and sustainable development, and just the right lobbyist group to make a case for sports as a business in Nigeria.

What Sports Benefits from NESG

The global sports industry is worth more than 620 billion dollars (A.T. Kearney) and it is growing. A sports industry in Nigeria can generate an annual revenue of over two trillion Naira (6.5 billion dollars) from a conservative population of 50 million consumers. The forecast shows the possibility - and opportunity - when the right processes are instituted to transform this huge creative sector into an active economic sector.

The government, as we were made to understand, is keen to broaden the scope of economic activities by identifying non-traditional sectors to include for greater impact, and in the case of sports, for larger participation. Among members of the newly constituted SITG, there is palpable confidence about working alongside the NESG amid probable outcomes. That said, the sports sector will benefit from the NESG’s:

  • Technical support
  • Policy formulation methodology
  • Roundtable negotiation skills
  • Legislative advocacy
  • Industry peer review
  • Research resources/tools

The time schedule for the first stage of our work may be short, but we’re condemned to deliver. Inasmuch as we are first to the table, one gets the feeling that such a mandate is greater than any single individual or organization; a real sense that the whole nation is at stake and the primary beneficiary of the desired results we aim to achieve.

Regardless of expected period for delivery, it is apparent that sports in Nigeria will no longer be business-as-usual. The changes will offer a pragmatic route for entry, improved governance, and increased participation.

Telema Davies

My ministry is simple: Driving the transformation of sports in Nigeria, and Africa through evidence-based insights with @TWOREPORT.

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