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Friday, 3 June 2016

Motorsports, A Potential Industry In Nigeria.


Nigeria is a country with great potential and untapped resources. A country with a population of  170millon people with 36 states and the Federal Capital Territory. Crude oil being the major Industry contributes to about 70% of the country's GDP. The ignorance of developing other industries have caused the large gap between Oil and other sectors like the Real estate, steel, construction, agricultural, science and technology, solid minerals and many more. However, what seems to be missing is a Motorsport Industry.

The Motorsport Industry of a country basically provides engineering and service businesses that support the sporting profession of motorsports. It serves as a connection for all racecar drivers, auto mechanics, engineers and financial institutes. The success of the industry in other countries is attributed to the proper investment, management and promotion put in place by organizations. Nigeria is no doubt capable of building such industry what is needed is the availability of Big time investors or sponsorship, a conducive racing environment, professionals, associations for drivers and a global business network. Business groups or individuals, financial institutes like banks are needed for the development of Motorsport in various areas such as construction of tracks, payment of salaries, sponsorship and so much more. Insurance companies are not left out knowing the high risk involved in this industry.

An arena is needed where racecar drivers, supercar lovers can gather for a show. Large expenses of land is needed in the construction of a racing track, these tracks can be situated in States like Lagos,  Oyo, Enugu, Kaduna and Abuja for accessibility and large excess in land.
Drivers, mechanics, engineers, race staffs, medical staffs all need proper screening and training. Racecars are said to be very technical depending on the mechanism adopted, experts are needed too for effective performance. An association through which drivers are screened and registered before racing should be created to assist in the proper documentation and management of the record of drivers and their activities, and also supply motorsport competitors with the equipment necessary to participate in the sport.

A global business network. The industry should be connected to other motorsport industry in other countries to foster the relationship and to earn international recognition. This business network is where investors, banks, law firms, insurance companies are interested. Investors are after the profit return the business brings in future, banks will make sure the industry players have there finances on their watch. Law firms come in to take care of the agreements and lawsuits and  they could be solicitors to companies who manufacture and sell there cars or engines.

Motorsport like any other industry will create employment opportunities for the skilled and unskilled. Racecar drivers, auto mechanics, engineers lawyers, auto sale consultant, accountants, medical staffs, race staffs, maintenance team for the track and the environment
Kinds of Motorsport...
Drag race
Autocross (formular one)...
Autotest
Circuit racing
Cross country
Endurance road rally
Hill climb
Karting
Rallycross
Sprint
Time attack
Trials....


Do you think Nigeria deserves to have its own Motorsport? Leave your comments below. 

4 comments:

  1. interesting write up.....

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  2. Personally, I would like for Nigeria to have its own Motorsports industry, but I'm not just sure if the country is capable of handling the complexities of the sport.

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    Replies
    1. Gradually, the industry shall be developed and all technical requirements will be achieved I believe.

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  3. This comment has been removed by the author.

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