Business

Let’s Tap into This!

Japan is currently the world’s second largest developed economy but with a shrinking working population; analysts have consistently explained that the dwindling youth population will ultimately reduce the labour force in the coming years.

Image: Pixabay.com
Image: Pixabay.com

Nigeria on the other hand has a very large youth population, statistics say. 60% of the nation’s 170m people is less than 35 years with an unprecedented unemployment rate in the country. The youth population is rapidly growing and we must productively engage them in legal, financially rewarding ventures to desist them from vices that are inimical to the growth and development of the country. Job creation in Nigeria must be a collaborative effort.

It will definitely take time to generate the much needed electricity that will lead to massive industrialization of the country, from planning, designing & construction of power plants to generation, transmission and distribution of electricity.

Sports and entertainment are fantasy businesses that if well-organized can create jobs across the country; we must create the enabling environment that will exert the physical & mental energies of our large youth population in a rewarding manner. Nothing unites Nigeria better than sports, no one can unite the nation together better than youth. If government at all levels can create an enabling environment for the development of sports and entertainment industry and allow the private sector to run it, we can create our own super bowls. Nigerians are sport loving people; we also pay handsomely to be entertained.

A few years ago, we all bought HiTV not because we love Toyin Subair but because he got EPL license. Immediately he lost it, we backed out. That’s the power of just one sport, football! Well branded by the English people that, in 2012, 900,000 fans visited England just to watch EPL matches and spent EURO706m while EPL organizers racked GBP2b from overseas TV rights.

Government should create the right environment for the development of sports & entertainment industry, we must allow the right people to run it, if this is done, corporate organizations will sponsor our tournaments. If there is adequate sponsorship, promotion activities and a good management in place, our local leagues will become trendy and create massive multiplier jobs for many unemployed youth.

Nigerians currently spend N2b daily on sports betting, while production businesses are folding up due to lack of electricity, sports betting shops are opening up across the streets of the country daily, we must tap into the love for football and other sports on a national scale to create employment for our people.
Outside football, there are other sports that can generate jobs for Nigerians. We should allow private ownership of stadiums, encourage political office holders, traditional rulers, religious leaders to watch games of the local clubs/ tournaments in their various constituencies live, this will generate sponsorship of the clubs/ leagues/ tournaments, tickets will be sold, sport wears will be manufactured, security will be provided, advertisers will cash in, brand managers will not be left out.

We need regular sporting activities for all age groups in Nigeria and an adequate management of sporting activities which I believe should be managed by the private sector.

For the entertainment industry, we need to remove the kingpins that sponsor piracy. We must create idols round our sport and entertainment icons. They will encourage the coming generation to believe in themselves, desist from illegal behavior, follow their passion and be hardworking.

If we develop our entertainment industry, it will be easier for the international community to invest in our businesses; investors will first buy into our cultural values before investing in our businesses. This is the 21st century; intellectual capital creates more revenue than the traditional natural resources that we’re used to, we must create the right environment for the discovery of talents and allow our citizens to flourish through their gifts.

The entertainment industry will help brand our nation in the international community in a positive way. It is our duty as Nigerians to lay a solid foundation for the development of our country, the entertainment industry keeps generating massive revenue for the bold and talented, more can be done on a national scale if the right infrastructure is put in place.

God Bless Nigeria!

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