The Nigeria Basketball Federation (NBBF) and Total Nigeria Limited yesterday renewed their league sponsorship partnership for another five years.
The new deal, which is for the national men’s division one and division two league, is valued at N150 million divided into N30 million per year.
Explaining his company’s decision to renew the deal in Lagos yesterday, Managing Director and Chief Executive Officer of Total E&P Nigeria Limited, Mike Sangster, said it became necessary following the gains recorded in the previous deal cemented two years ago.
He said the N30 million per year for five years would help the NBBF to unearth fresh talents that could be groomed to stardom.
“The signing ceremony of the renewal of the MOU is meant to build on the productive relationship with NBBF. We are committing N30 million every year to the league and for five years we are going to boost the leagues with over N150 million. The growth of basketball in Nigeria showed that our decision to invest was a fruitful one.
“I must also commend the NBBF president, who is our deputy managing director, Musa Kida, for galvanising his board to build the sport. We are aware that over 150 teams will compete in division one and two leagues and we hope more talents would come through.
“With the qualification of the national teams for the Tokyo Olympic Games, I could see that many players are keen to represent Nigeria and we are happy to be part of this excitement that basketball has brought to the country,” Sangster said.
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Also speaking at the event, Youth and Sports Development Minister, Sunday Dare, lauded Total E&E Nigeria Limited for their commitment to sports development with the renewal of the national leagues sponsorship deal.
“The signing of this MoU demonstrates once again the goodwill and corporate social responsibility of Total E&P Nigeria in identifying with basketball development in our country. This is transformational,” he said.
The NBBC has signed a 5-year deal with @Total E&P Nigeria worth N150m for the sponsorship of the Men’s Divisions 1 & II league— #NBBF (@nbbfonline) September 15, 2020
The partnership which will run btw 2020 & 2025 will see Divisions 1 and II receiving N15m each annually to organize and run the leagues. pic.twitter.com/7WYJgdlfXh
He also hailed the NBBF board, led by Musa Kida, for making Nigeria proud with great achievements at both national and international levels.
He reaffirmed the Federal Government’s commitment to sports development, saying the government recently reclassified sports from mere recreation to business.
“Sports with a business model around it will create jobs, generate review, add value to the talents of our athletes and attract private investments. We are on the way to deliver a revised policy on sports that will turn sports into an industry,” Dare enthused.
NBBF President, Kida, said the leagues’ deal has opened a new vista in the corporate sponsorship of sports in Nigeria. “It is the first time a lower rung of our sports is receiving corporate sponsorship. This partnership also increases the entertainment value of the game as participating teams compete for laurels right from their home turf all the way to and including the national finals,” Kida said.
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