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How To Invest In Nigeria’s Football Economy

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There are indications that emergence of The Nigeria Football Fund (TNFF) investment vehicle has turned out to be the real game changer for propelling the development of the Nigerian Professional Football League (NPFL) and stimulating Nigeria’s football economy.

 

Head of Media and Publicity, GTI Asset Management & Trust Limited, Andrew Ekejiuba, is of the opinion that “TNFF has helped to restructure and reposition Nigeria Premier Football League (NPFL) for greatness following the chains of successes so far achieved in the execution of the 2022/2023 abridged league.

 

Biztellers reports that TNFF is a high quality investment–grade instrument involving equities of quoted companies, money market or fixed income instruments, and strategic investment in football/sport sector via securitized lending investments in identified short to medium term “football projects.”

 

To reinforce his position, Ekejiuba explained that a football economy consists of football and other sporting activities measurable in statistical terms as a significant component of the nation’s Gross Domestic Product (GDP).

 

“It may also include other sports like Basketball, Boxing, Tennis, Athletics, Golf and Polo,” he added.

 

Biztellers further reports that TNFF is an open-ended Securities and Exchange Commission (SEC)-registered unit trust (“Fund”) that allows ease of entry and exit by investors. The Fund in a nutshell seeks to build a “Football Economy” within the Nigeria Sports ecosystem.

 

But more importantly, TNFF is packaged to provide sustainable solutions to the challenges hindering the growth and advancement of football in Nigeria by focusing on the development of the Nigeria Premier Football League Clubs.

 

According to Ekejuiba, the minimum initial investment is 100,000 units while additional investments shall be in multiples of 100,000 units.

 

“The current price is N1.082 per unit. The bid and offer price of the fund would be available on the website of GTI,” he added.

 

It was gathered that to safeguard investors’ outlay on this, TNFF is further protected by the Trustee (Radix Trustees Limited), who supervises the activities of the Fund Manager in compliance with the Trust Deed.

 

Ekejuiba pointed out that, “An independent Custodian (UBA Custodian) also holds and safeguards the assets of the Fund. All these structures are meant to protect investors, create transparency and accountability in the management of the Fund.”

 

For those who might want to exit or cash-in on their capital gains, he highlighted that “On the procedure for selling or redeeming TNFF investment, Unit-holders can sell their units in the Fund after the initial 6-month minimum holding period and they will be required to redeem units online or complete a Redemption Form and return the proof of investment to the Fund Manager.

 

“Once these documents have been verified, the redemption request will be processed within five (5) business days. The minimum permissible holding after partial redemption is N100,000 or such balance as advised by the Manager from time to time.

 

“As a game changer, a steady flow of income as yearly payment of dividends would be made to unit holders, from the second year to affirm to investors the uniqueness of TNFF.”

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Adoption of AI Feature as NIPetGE Pays Courtesy Call at NNPC Ltd

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Enhanced adoption of artificial intelligence and other digital technologies to improve operations in Nigeria’s oil and gas industry is taking the centre stage in relevant circles.

The issue came up strongly when the President-elect of the Nigerian Institute of Petroleum and Gas Engineers NIPetGE, Prisca Kanebi, paid a courtesy call at the Nigerian National Petroleum Company Limited (NNPC Ltd), Abuja.

Biztellers reports that the Kanebi led delegation was received by the Group Chief Executive Officer of the NNPC Ltd, Bayo Ojulari, represented by the Executive Vice President, Gas, Power and New Energy, Olalekan Ogunleye.

According to a statement made available on Sunday, discussions at the meeting focused on the future of Nigeria’s hydrocarbon industry amid global energy transition concerns, technological changes and sustainability targets.

ALSO READ: NNPC Ltd, IOCs Raise Crude Supply to Local Refineries by 103% in 4 Months

The statement indicated that the NNPC Ltd acknowledged the role of NIPetGE in policy advocacy, technical development and innovation within the sector.

Speaking during the meeting, Kanebi highlighted recommendations from the institute’s recent conference, including the proposed establishment of a national centre for intelligent energy systems to support the deployment of artificial intelligence, the Internet of Things and robotics across the petroleum value chain.

She also commended the Federal Government’s decarbonisation efforts and reiterated the institute’s support for policies aimed at improving sustainability in the industry.

The institute also recommended the creation of a hydrocarbon-linked emissions trading system to allow Nigeria to take part in global carbon markets.

The institute also proposed fiscal incentives to support local manufacturing and service delivery in the oil and gas sector, as well as the expansion of the Energy Transition Plan to include measurable upstream decarbonisation targets backed by tax credits.

Other proposals included increased public-private partnerships in emission control infrastructure, carbon capture projects and hybrid renewable energy initiatives.

Both organisations also stressed the need for stronger collaboration between industry and academic institutions to improve professional capacity and align petroleum engineering practice in Nigeria with international standards.

The institute further disclosed that its bill seeking chartered status had passed second reading and was progressing towards a third hearing at the National Assembly.

It added that NNPC Ltd pledged support for future collaborations with the institute on initiatives aimed at improving efficiency and innovation in the energy sector.

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FHC Orders NUPRC to Comply with PIA

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Local Firms Lead Revival of Idle Oil Wells – SPE

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Nigeria’s indigenous oil and gas companies are reopening dormant wells and ramping up production from assets acquired from international oil companies (IOCs) to boost crude oil output.

The Society of Petroleum Engineers (SPE), Nigeria Council, made the assertion through its Chairman, Francis Nwaochie, on the sideline of the Offshore Technology Conference (OTC) which ended at the weekend in Houston, Texas.
Nwaochie said indigenous operators were already taking advantage of opportunities created by disruptions in the global energy market to increase production from existing assets.

According to him, local firms that recently acquired onshore and shallow water assets from IOCs were aggressively reviving inactive wells and maximizing available infrastructure to raise output levels.

“What we are seeing now is that indigenous companies are reopening wells from the assets they acquired from the IOCs. Some of them have almost doubled production from those existing assets,”.

He explained that the renewed focus on dormant wells and existing facilities had become critical at a time the global oil market was facing supply shortages triggered by geopolitical tensions in the Middle East.

The SPE Nigeria Council Chairman noted that Africa, particularly Nigeria, was well positioned to benefit from the supply gap because of the continent’s relative stability compared to some other oil-producing regions.

“There is a huge opportunity for Africa right now. The focus is gradually shifting to Africa because of the volatile environment in many other producing regions.”

He stated that indigenous operators were leveraging digital technologies, financing opportunities and local expertise to improve production efficiency and optimise existing fields.

He added that stronger implementation of local content policies was also helping to create a more stable operating environment for oil and gas investments.

“Local content is very critical. Once communities and local companies clearly understand their roles and benefits, then you create peace across the industry. Business only thrives in peaceful environments.”

ALSO READ: Nigerian Navy Recovers Large Cache of Illegal Refined Petroleum Products

Nwaochie also stressed the need for Nigeria to move beyond crude oil production and begin developing indigenous technologies for the energy industry.

According to him, SPE Nigeria Council was actively supporting innovation and technology development among young Nigerian engineers and researchers.

He disclosed that the association was engaging the National Universities Commission(NUC) on reforms to engineering curricula in universities to better prepare graduates for the future of the energy industry.

“One of our major focuses in SPE is technology development. We should not only import machines and equipment, we must begin to develop our own technologies locally.”

Nwaochie revealed that SPE was already supporting local innovators working on technologies such as remotely operated underwater vehicles (ROVs), noting that indigenous technology development will strengthen Nigeria’s economy and deepen local participation in the oil and gas sector.

“We may not get everything right immediately but we must start somewhere. That is how countries that dominate the global energy industry built their capacities.”

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