Business

Transforming Nigerian Football Fan Culture To Economic Growth

Nigerians love their football, it’s that simple, and this Nigerian Football Fan Culture knows no national boundaries. When you look into the typical Nigerian urban space you will find its dotted with what’s popularly referred to as viewing centers, and the number of these football houses keeps increasing.

In the last couple of years, betting companies have come flooding into the country, tapping into the boisterous fan culture in a nation with a predominantly youth population. The betting companies just seem to have woken up to the huge potential market they’d overlooked for years.

The reoccurring question remains, What is it about the foreign leagues and football in general that gets this nation so engaged? The answer is pretty much simple – Value. Beyond it been just a football match, the foreign leagues, most especially the English League has become an enthralling, unending soap-opera. A saga of some sort. The packaging is exquisite, the delivery – classy; and most importantly it’s been built into a mega business that has got investors from all over the world scrambling for a piece of the pie. But as with other good things, it didn’t just happen, it took time, visionary planning, and most importantly money.

Super Eagles and Everton Winger Alex Iwobi image source

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The Nigerian Premier League should be doing better, there is no doubt about that, the sheer size of our population and the passion for the game here means the business value is immense. The potential is huge, but as with many other sectors of our national life, we have managed to shoot ourselves in the foot (quite literally).

Any student of the game will allude to the fact that the government is poor at running football, and it is also proven that she is equally as incompetent at running businesses. Football is big business, and if the Nigerian Football League will fulfill its potential then government funding isn’t the way forward.

Over 90% of clubs in the top tier of the Nigerian league is owned and funded by state governments, this model is simply not sustainable. In these times of austerity, dwindling state revenues as a result of falling oil prices, it is imperative that government gets its priorities right, funding state-owned clubs simply isn’t.

The most logical way to go is to commence a process that is geared towards getting these clubs out of government hands. Passionate corporate investors and individuals should be encouraged to buy these clubs, the resultant effect will be 20 businesses competing against each other as opposed to the current model of 20 pet projects of a Governor in power. This might also require privatizing the home stadia alongside these clubs. This might be a tricky subject and politically sensitive nerve to touch, but in all honesty, Nigeria is littered with many stadia erected at huge costs with little or no maintenance and also adding very little to the economy.

It best serves everyone to privatize these stadia and insert a clause/condition that these facilities will be made available in any sporting event of national magnitude, (nations cup, world cup qualifiers)

Every Nigerian government in the last 40 years has made diversifying the economy their favorite campaign punchline, why none has considered prioritizing football in that quest is telling. The number of jobs and opportunities available across the football value chain is staggering. Advertising and media, talent management, football merchandise, tourism, football data mining, and analytics. The list is endless.

image source

It’s no secret that Aliko Dangote nurses ambitions for a takeover of English Premier League club Arsenal, aside from his obvious support for the club it is certain he sees it also as an investment, an opportunity to broaden his investment portfolio. It’s no surprise investors like him gravitate towards the EPL. Liverpool was handed £150 million ($182m) in prize money for winning the Premier League, how many Nigerian companies make that in a year?

That one of our own, Africa’s wealthiest investor seeks to tap into the riches of football on other shores should create a drive for excellence in the NFF, to build a league that’s attractive and lucrative enough to drive economic growth.

Business

Retail Fuel price drops nationwide At MRS Stations

MRS Oil Nigeria Plc has announced a reduction in the retail price of Premium Motor Spirit (PMS), commonly known as petrol, across its stations nationwide.
The oil marketing firm disclosed on Monday, February 10, through its official X (formerly Twitter) account, that its stations in Lagos will now sell petrol at ₦925 per liter.

The move follows a similar price adjustment by its partner, Dangote Refinery, which recently lowered the ex-depot price to ₦890 per liter.

Beyond Lagos, MRS outlined region-specific pricing, with petrol selling at ₦935 per liter in the South West, ₦945 in the North, and ₦955 in the East.

The company assured consumers that the reduction would not compromise fuel quality.

“The prices may vary, but one thing stays the same—we give you high-quality fuel that keeps your engine running at its best,” the statement read.

MRS also urged customers to remain vigilant and report any stations selling above the new price.

“We are just a call or email away. Let us know if you notice any discrepancies,” the company added.

The price cut is expected to relieve motorists and businesses struggling with high fuel costs.

However, industry analysts say sustained reductions will depend on global crude prices and domestic refining capacity.

Business

Dominion City’s David Ogbueli Sets Up 1 Billion Naira Entrepreneurship Support Fund

Dominion City at its recently concluded 2025 Lagos Executive Leadership Retreat for Entrepreneurs & Career Professionals has set aside N1 billion to empower entrepreneurs. President of Dominion City Global, Dr. David Ogbueli made this public at the church’s Lagos headquarters.

The five-day retreat was geared towards equipping participants with the tools and mindset to improve their economic standing through wealth creation and innovation. At the retreat, participants—both onsite and online—numbering more than 1,000 were trained and fully exposed to addressing food security via pastoral farming, shifting agriculture, subsistence farming, and commercial agriculture; economic empowerment, discipleship, and spiritual growth; job creation; global migration and expansion; resource mobilization for business funding; and healthcare, among other topics.

The President of Dominion City Global, Dr. Ogbueli, who proposed a N1 billion support fund for entrepreneurs, stated that one of the goals of the empowerment retreat is to equip congregants with the skills, resources, and support necessary to succeed in business and their careers, thereby preparing them to further empower their immediate communities.

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He emphasized the potential for exponential growth in businesses, calling for participants to achieve a 10-fold progression while advancing God’s kingdom. According to him, Dominion City is empowering God’s children to be problem-solvers and solution-givers, enabling them to turn societal problems into opportunities. Dr. Ogbueli also urged the church to embrace God’s principles and consistently provide solutions to societal problems to prosper.

“You have to give God something to work with. God’s blessings has to rest on something. You plant the seed, and God sends the rain, which brings the harvest. You are not going to prosper if you cannot find solutions to people’s problems. It is your information that will plant the seed. No amount of prophecy will guarantee the outcome if you don’t add your part to it. No matter what is prophesied to you, your choices determine the outcome,” he advised.

Meanwhile, Dr. Ogbueli called on churches to actively engage in structural economic development by empowering their members through entrepreneurship, ultimately contributing to the prosperity and well-being of society.

Some professionals addressed salient topics affecting the congregants and the nation’s economy, including Dr. Austine Maduka: “Kingdom Wealth Using Agriculture”; Mark Osang: “Discipleship and Spiritual Growth”; Alioha-Emmanuel Ihechi: “Cassava Farming and Processing”; Chidinma Okebalaman: “Global Migration/Positioning/Expansion”; and Dr. Jackie Ikeotuonye, CEO of BFA Integrative Health & Wellness Clinic: “Health and Cure.”

Others included Uzoma Ayodeji: “Attracting Grants for Social Enterprises: Practical Steps for Success”; John David: “Strategic Creativity: Organic Innovation for Accelerated Productivity in Business and Career Optimization”; and various other topics such as “Epidemiology and Control of Lassa Fever” and “Seeing and Owning the Future: The Future of Work.”

It will be recalled that Dr. David Ogbueli in December 2024 at his Abuja Headquarters personally disbursed N100,000 to over 100 church members while providing hundreds more with substantial cash gifts and food items.

Business

Communications Minister Hints At Upcoming Call and Data Tariff Increase

Minister of Communications and Digital Economy, Bosun Tijani has announced that prices are expected to rise by 30-60 percent.

The revelation comes days after Tijani confirmed that telecom services tariffs would increase, but not by the proposed 100 percent.

Tijani says the telecommunications sector relies heavily on investment to drive Nigeria’s economic growth. He said investors in the sector must continually invest in equipment to remain relevant, despite the challenges posed by inflation.

“The sector is about investment in infrastructure; the technologies are changing, so you have to keep investing in technology. Things like 3G will be decommissioned at some point because you have higher technology, so they have to keep investing in equipment. And we all know that there is inflation. For us, as we are protecting them, we want to keep importing capital in the sector. The foreign direct investment in our sector in the first quarter of 2024, driven by telcos, was close to $199 million; this is bigger than the entire inflow in 2023. We can’t get to a $1 trillion economy if mobile network operators are investing at a snail’s pace,” he stated.

Telecommunication operators have been advocating for approval to increase service tariffs, citing the rising inflation in the country. The implementation of key policies by the present administration, such as the removal of fuel subsidies and the unification of exchange rates, has significantly contributed to the increase in economic inflation across Nigeria.

Rejecting telecom operators’ calls for a 100% hike, Dr. Tijani emphasized that a moderate increase would balance affordability and sector growth.

“The telecommunications sector contributes over 16% to our GDP, employs thousands of Nigerians, and is vital to the digital economy. However, we must ensure services remain accessible while sustaining the sector’s viability,” Dr. Tijani explained.

He highlighted that the Nigerian Communications Commission (NCC) is leading a data-driven tariff review process, prioritizing consumer interests and long-term sector sustainability.

Addressing rural connectivity, the minister announced plans to deploy 90,000 kilometers of fiber-optic cables and construct telecom towers in remote areas through Special Purpose Vehicles (SPVs). He also noted Nigeria’s leadership in managing telecommunications infrastructure resilience, particularly in mitigating submarine cable disruptions.

Dr. Tijani reaffirmed the government’s commitment to harmonizing taxes, declaring telecom infrastructure a critical national asset, and holding operators accountable for service interruptions.