Opinion/Feature
Special Feature: Understanding The Nigeria Football Fund (Part 1)
By Andrew Ekejiuba
The Nigeria Football Fund (TNFF) is fast becoming a household name in Nigeria’s sports ecosystem but many stakeholders in the sports industry of Africa’s most populous black nation are yet to come to grasp its essence.
A visit to major stadia in the country where Nigeria Premier Football League (NPFL) matches are played weekly, the acronym TNFF is visibly displayed on the pitch panels, posters, billboards, flyers, books, newspapers and magazines to mention but a few, yet many are at sea when it comes to appreciating this great tool that has made its giant entry into our sporting history.
From the start of the 2022/2023 NPFL season to date, a lot has been highlighted by both local and foreign media organizations about TNFF and its benefits to our country’s football development. In the social media space, the same story abounds, as the name TNFF is synonymous with Nigerian football. To say the least, TNFF is fast garnering lots of attention it deserves in the social and financial sectors, while smart Nigerians who are aware of its benefits are seriously investing and hoping to start cashing out soon from this new ‘green oil’.
A peep into history shows that TNFF is the first of its kind in Africa and globally, thanks to the financial experts from GTI Assets Management and Trust Limited led by its Group Managing Director, Abubakar Lawal.
In the words of Lawal, “TNFF is a product of 13 years of painstaking effort and research as individuals and institutions are now positioned to reap from this specialized sports asset.”
From the foregoing, TNFF is the much-needed booster that currently drives, lubricates, facilitates and helps in the restructuring of football and sports in the country. In a jiffy, TNFF came when a new lease of life was needed when it was evident that the elite football league was almost at its comatose stage in Nigeria.
In summary, TNFF is a specialized fund that will help build and deliver a “Football Economy”, reposition Sports as a national asset contributing to Nigeria’s GDP and transform football/sports from socio-political tools to profitable business enterprises in the country. It is also a collective investment scheme that seeks to provide sustainable solutions to the challenges hindering the growth and advancement of football and other sports in Nigeria with a primary focus on creating value for all stakeholders.
From the financial experts in GTI, TNFF is an open-ended Securities & Exchange Commission (SEC)-Registered Unit Trust (“Fund”) that allows ease of entry and exit by investors. Institutions and individuals are therefore encouraged to invest in this sports asset and reap bountiful returns for their investment.
However, for further clarification, Football Economy consists of football and other sporting activities measurable in statistical terms as a significant component of the nation’s Gross Domestic Products. It includes Football, Basketball, Boxing, Tennis, Athletics, Golf and Polo to mention but a few.
(To be continued in Part 2)
Ekejiuba, Head of Media & Publicity, GTI/TNFF, wrote from Lagos Island.
Opinion/Feature
Downstream Deregulation: Between Obasanjo’s Half-measures And Tinubu’s Bold Leadership
Opinion/Feature
UNCOMMON SCHOLAR, EXCEPTIONAL ADMINISTRATOR: MY TRIBUTE TO PROF. OLOYEDE AT 70
By President Bola Tinubu
As Professor Ishaq Oloyede turns 70 tomorrow, October 10, I pay a special tribute to this astute administrator, educator, author, and scholar, currently the Joint Admissions and Matriculation Board (JAMB) Registrar.
As the former Vice Chancellor of the University of Ilorin, Prof. Oloyede’s invaluable contributions to the nation through academia and public-sector administration have significantly impacted the academic community.
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His impactful tenure at the University of Ilorin, during which he introduced landmark ideas and innovations that helped the institution attain enviable heights, is on record.
Through patriotic dedication and commitment to his craft, Prof Oloyede imparted knowledge and character to thousands of students who underwent his teaching during his glorious and impactful academic career.
Indeed, the bedrock of development lies in education. Developing nations, including Nigeria, are in dire need of more scholars like Prof. Oloyede. His selfless sacrifices and innovative approaches to learning and leadership give hope for a brighter future.
Perhaps more remarkable is Prof. Oloyede’s transformative leadership at JAMB. He pioneered and sustained a series of reforms and technological innovations that have made the admission process in Nigeria transparent and credible.
In his eight years of stewardship at the board, thus far, Prof. Oloyede has demonstrated an uncommon commitment to financial integrity and accountability in public service. He has also raised the bar in administration and management.
I am proud of Prof. Oloyede’s accomplishments.
The nation owes the Professor of Islamic Jurisprudence a debt of gratitude for transforming JAMB, traditionally a non-revenue-generating government agency, into a consistent contributor to the national treasury through efficient financial management. His contributions to JAMB are invaluable and greatly appreciated.
On this occasion of his 70th birthday, I join members of the academic community, students, JAMB staff, and well-wishers in celebrating this scholar who, in words and deeds, has also done a lot to propagate the Islamic religion.
I pray that Almighty Allah will continue to honour the distinguished professor with health, wisdom and strength to serve the nation for many more years.
Opinion/Feature
Clarification On NNPCL Refinery Operations
By Sen. Heineken Lokpobiri PhD
My attention has been drawn to statements made by Engr. Kamoru Busari, Director of Upstream in the Ministry of Petroleum Resources, who represented me at a recent conference in Lagos. I wish to categorically state that the claim that I directed the Nigerian National Petroleum Company Limited (NNPCL) to stop running its own refineries and focus solely on equity participation in other refineries is false. This does not represent my position as Minister overseeing the oil sector, nor does it reflect the stance of the Federal Government.
It is important to clarify that NNPCL is a company governed under the Companies and Allied Matters Act (CAMA), with a functional board and management. The Ministry of Petroleum Resources does not control or run NNPCL, as it operates independently like any corporate entity.
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The oil and gas sector is fully deregulated, and the Nigerian government remains committed to promoting in-country refining. We encourage companies, including NNPCL, to operate independently, following global best practices. While we provide strategic guidance, we do not interfere directly in the operations of these companies.
I reaffirm our commitment to supporting the growth and independence of NNPCL, ensuring that its operations are in line with international standards for efficiency and transparency and profitability.
Sen. Heineken Lokpobiri PhD, Minister of State Petroleum Resources (Oil), wrote from Abuja, Nigeria