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Full Project – THE CONTRIBUTIONS OF INSURANCE IN THE SPORTS SECTOR OF NIGERIA

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ABSTRACT

In this research work titled ‘The contributions of insurance in the sports sector of Nigeria. The researcher investigated why Nigerian sports sector do not embraces insurance protection. Investigated the factors militating against the insurance industry not to create adequate awareness about sports insurance protection. The information for the study was collected using primary and secondary methods of data collection. For a primary data collection, while existing literature relevant to the topic was consulted for the secondary data. The research used chi-square statistical model to analyze the data. four major findings were made, based on the findings the recommendations proffered are; Nigerian sports sector should be educated on the benefit of insurance policies to enable them embrace insurance protection. Nigerian insurance industry should try as much as possible to settle claim, for the public not to see them as fraudsters.

TABLE OF CONTENTS

Title page i

Approval page ii

Dedication iii

Acknowledgement iv

Abstract vi

Table of contents vii

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study 1

1.2 Statement of the Problem 3

1.3 Objective of the Study 6

1.4 Research Questions 7

1.5 Research Hypotheses 8

1.6 Significance of the Study 9

1.7 Scope and Limitations of the Study 9

1.8 Definition of the Terms 10

Reference 13

CHAPTER TWO

REVIEW OF RELATED LITERATURES

2.1 An overview 14

2.2 History Insurance In Nigerian Sports Sector 14

2.3 Historical Development of Nigerian Sport Sector 16

2.4 The Development of Insurance in Nigerian Sports Sector 27

2.5 Role of sports in the development of Nigerian

Economy 30

2.6 Sports Administration and Insurance in Nigerian 34

2.7 Analysis of Nigerian sports policies and its impact on Nigerian sports 38

2.8 The Challenges of Insurance in Nigerian Sports Sector 44

Reference 46

CHAPTER THREE

RESEARCH METHODOLOGY AND DESIGN

3.1 An Overview 49

3.2 Source of Data 49

3.2.1 Primary data 50

3.2.2 Secondary data 50

3.3 Population of the Study 51

3.4 Sample size and Sampling Techniques 52

3.5 Validity and Reliability of the Instrument 55

3.6 Method of data Presentation and Analysis 56

CHAPTER FOUR

DATA PRESENTATION ANALYSIS, DISCUSSION OF FINDING

4.1 An overview 59

4.2 Data presentation 60

4.3 Data Analysis 61

4.4 Testing of Hypothesis 71

4.5 Discussion of Findings 78

CHAPTER FOUR

5.1 Summary of Findings 80

5.2 Conclusions 81

5.3 Recommendations 82

5.4 Suggestions for Further Studies 86

Bibliography 87

Appendixes 90

Sample questionnaire 91

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

Nigerian insurance industry has been in a great trend of improvement from the pre-consolidation to the post consideration ear. They are smarting from the wealth sport industry from the recapitalization and expanding globally to compete internation communities. They are currently participating in the local content initiative of out and gas business energy insurance marine and aviation and other transportational and logistic risks. Hence, Nigerian supporting industry is an area that have not actually benefited from the activities of insurance since insurance has been defined as a social security welfare, it will help the participants to boast their confidence in participating in sports without fear. Nigeria is not only seen as a leading country in Africa in the field of sports but also a world achiever in the field such as world cup of various categories is over emphasized.

because he scored four goals in match.the family comprehensively recovered by way of insurance protection which is not obtainable in Africa setting Ukpai (2004) advocated that insurance in sports will create confidence, provides for retirement protection, protects various elements of disability and equally improves an economy. Mordi (1988) Opined that a country with adequate insurance protection is a sick country and s healthy country is a wealthy nation. Based on this maximum it is plausible that we evaluate the contributions of insurance business in the development of sporting sector in Nigeria.

1.2 Statement of problems

Based on the nature of sporting activities in Nigeria and their inherent, The followings are the identified statement of problems;

1. Studies has shown that Nigerian sports sector do not embraces insurance protection.

2. Lack of awareness has been one of the challenges faced by insurance industry.

3. Another major challenge facing Nigerian insurance industry is nonpayment of claims which results to loss of image and confidence in insurance contract by the sports sector.

1.3 Objective of the Study

The aim of this research work is to evaluate the contributions of insurance in the sports sector in Nigeria. The specific objectives of this research work includes the following;

1. To investigate why Nigerian sports sector do not embraces insurance protection.

2. To investigate the factors militating against the insurance industry not to create adequate awareness about sports insurance protection.

3. To know why insurance industry do not pay claims immediately which results to loss of image and confidence in the sports sector.

1.4 Research Questions

The researcher developed the following research questions

1. Why are the Nigerian sports sector not embraces insurance protection?

2. What are the factors militating against the insurance industry in terms of creating awareness about sports insurance protection?

3. Why do insurance industry not pay claims immediately which results to loss of image and confidence in the sports sector.

1.5 Research Hypotheses

Based on the above research objectives and questions, the researcher formulated the following research hypotheses;

Ho: Nigerian sports sector do not embrace insurance protection.

H1: Nigerian sports sector embraces insurance protection.

Ho: Nigerian Insurance industry do not create adequate awareness about sports insurance protection.

H1: Nigerian Insurance industry creates adequate awareness about sports insurance protection.

Ho: Nonpayment of claims immediately by the insurance industry does not results to loss of image and confidence in the sports sector.

H1: Nonpayment of claims immediately by the insurance industry results to loss of image and confidence in the sports sector.

1.6 Scope and Limitation of the Study

Scope of the Study

This research work will focus on the contributions of insurance in the sports sector in Nigeria. The area of this research work is Nigerian football association Enugu state chapter.

Limitations

The researcher in carrying out this study encountered numerous problems which includes:

· Fund

· Time

· Lack of Research materials

The researcher did not have enough money to visit the company as money times as many times as required data adequately.

The time allotted for the work was not enough. This is because I had to share the time with other academic works of the semesters. This made her unable to cover a lot of interesting areas but therefore limited her research work only at Enugu metropolis.

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