Everywhere in the world, football (the king of all sports) is fast becoming an instrument used in testing the socio-political and economic strength of a nation.
It has also proved to be one of the major employers of labour following the large number of active sportsmen and women that have been attracted to this beautiful game.
The European nations whose leagues are the most glamourous in the world can boast of a stronger economy than Nigeria and some other African nations.
No wonder these European nations can afford a huge transfer value placed on the players who ply their trades there and Nigeria cannot afford this luxury of high incentives for players.
However, the good news is that as we progress in the on-going transformation of the Nigeria Premier Football League (NPFL) in a very short period there would be a significant improvement in the Nigeria Football ecosystem.
It was because of the aforementioned situation that gave birth to The Nigeria Football Fund (TNFF). This is an initiative of GTI which is aimed at laying a solid structure for a sustainable football development in Africa’s most populous black nation, Nigeria.
Prior to the commencement of the 2022/2023 abridged Nigeria Premier Football League (NPFL), GTI unveiled an investment fund tagged ‘The Nigerian Football Fund’ to enhance the country’s sports industry beginning with football.
For the records, TNFF is a Specialized Collective Investment Scheme that combines the regular advantages of a mutual fund with the unique propositions of a structured fund. Therefore, TNFF is raising N5 billion through an initial public offering of 5.0 billion units at N1 per unit.
The minimum subscription to the fund is 100,000 or in multiples of N100,000 thereafter.
It is worth noting that the application list for the offer has opened since Tuesday March 22nd, 2022 as some investors have already invested with the expectations that many more investors will key into this virgin goldmine termed ‘Nigeria’s new green oil’.
TNFF is approved and registered by The Securities and Exchange Commission (SEC) as an open-ended fund and it is managed by GTI Asset Management & Trust Limited, a member of GTI Group.
Speaking to a section of the media recently, the Executive Director (ED,) Fund Management of GTI, Mr. Nelson Ine said the investment initiative will give Nigerian football a great boost because of its enormous potentials and the quality of return on investment that many TNFF investors will enjoy in future with better yields comparable to other financial instruments in the market.
Lending his voice to the laudable initiative, a former Deputy Governor of Lagos State, Femi Pedro, said TNFF would fill the missing link in the development of Nigerian sports generally. “The TNFF provides a unique vehicle to mobilize private sector funding for sports development, thus enabling the sector to contribute significantly to national economic development,” Pedro said with great optimism.
He noted that efficient and consistent funding had been the major gap undermining the potential of the Nigerian sports’ ecosystem and will be successfully addressed with the TNFF/GTI initiative. According to him, the initiative will unlock the potential of the sports ecosystem in Nigeria.
The positive feedback from the on-going Nigeria Premier Football League 2022 – 2023 Season is a testament to the immediate impact of the TNFF.
The principles of the TNFF aligns with the national agenda as clearly stated in the National Sports Industry Policy (NISP) of turning sports into business as a financially rewarding industry that would be attractive to investors.
TNFF will harvest the potentials of the sports ecosystem with regards to people, talent, passion, resources and everything you can think of, in order to actualize our dream.
Reacting, the Chairman, House of Representatives Committee on Sports, Hon. Olumide Osoba, showered encomiums on GTI for being innovative, noting that the TNFF ‘s investment proposal supports the government’s efforts at diversifying the economy.
Also, former Vice President, Nigeria Football Federation (NFF), Seyi Akinwunmi, believes that the TNFF project would herald a lot of greatness in the Nigerian sports industry with several multiplier effects on the economy, security and youth employment as a result of the yawning gap in this sector.
According to him, TNFF will change the narrative in Nigerian sports through major investments, creative initiatives and maintenance of higher standards.
He thumbed up GTI for this great initiative and confirmed that NFF did an independent investigation and were satisfied with the pedigree of the group before the football-ruling body agreed to partner with them.
In his remark, the Group Managing Director, GTI Group, Abubakar Lawal, said that the TNFF would serve as an enabler for sustainable funding of football and other sports, with a target of growing sports’ contribution to National Gross Domestic Product (GDP) to 0.5 per cent within the next five years.
“The way it will affect the economy is monumental. First of all, you have a vehicle that people will put money on across the globe and what it does is that natural structure will emerge on the back of this.
“TNFF is an enabler, the project is massive such that employment will be created, liquidity will be provided, infrastructure will be delivered, insecurity will be managed and the economy will develop from this experience.
“The GDP as of today is between $450 billion and $500 billion without rebasing. Nigerians will soon begin to see, this is a way to start the rebranding and restructuring of Nigeria, creating a plain-level field and fresh opportunities for Nigerians. A new asset class is born,” Lawal stated.
From the foregoing, TNFF offers immense opportunities to all stakeholders because the birth of TNFF means that Nigeria now has a new asset class that average investors and fund managers can put their money into and be rest assured of good returns.
Sports enthusiasts also, will definitely see progress in Nigeria’s sporting ecosystem and by extension, the economy.
Finally, the benefits that will accrue from TNFF/GTI initiative will be super attractive and unique because it will help free up government revenue and reduce their involvement in sports funding which has been the bane of sports development in the country since independence in 1960.
Ultimately, the TNFF will deliver higher returns to investors. Therefore, invest in TNFF and reap bountifully from your passion and love for football.