Deal could be win-win if well handled – Analysts
By Tasie Theodore
Pundits in the Nigerian football arena are remarking that the recently signed deal between the Nigerian Football Federation and Wapic Insurance Plc could be a veritable win-win for both parties if properly handled.
Under the terms of the deal, the insurance player, which was originally part of the Access Bank group will serve as the new co-sponsor and official insurance service provider of the Super Eagles for five years,
The official signing event for the partnership agreement which took place in Lagos on Friday had in attendance Executive Director, Olufemi Obaleke; Executive Director, Bode Ojeniyi; and Yinka Adekoya, all of Wapic Insurance Plc; and the President, Nigeria Football Federation (NFF) Amaju Pinnick; NFF first and second vice-president Seyi Akinwunmi and Shehu Dikko, and Aisha Falode.
“This relationship is for 5 years with an option of renewal. They will insure all our players and events,” Dikko affirmed at the event.
Shedding even more light on the transaction, the first Vice-President of the NFF, Seyi Akinwunmi, threw in: “WAPIC paid the first salary of the Super Eagles coach, Gernot Rohr. So this relationship did not just happen out of the blues.”
The move is coming on the heels of last year’s successful partnership between the NFF and Aiteo and is part of a string of renewed efforts at boosting football in the country though improved private sector involvement.
Within the confluence, they remark, the local football scene would be invigorated even as supporting firms get improved brand visibility and extended market endearment from millions of football-loving Nigerians.
Only on Wednesday in another instance, the Nigeria Football Federation (NFF) had signed a five-year deal worth $4 million with beverage giants Coca-Cola.
Analysts however note that while this new rash of deals is good, tighter fiscal prudence and accountability has to be introduced into the running of the affairs of the federation to prevent the recurrence of sad tales from the past where large sums of money had reportedly developed wings and flown out of the vaults of the nation’s prime football sector managers.
On present form, the domestic Nigerian football scene trails those of the better organised leagues, in notably, North Africa.
A pix from the NFF, Wapic Insurance deal-signing event