Nigerian gambling tycoon and founder of the betting company Premier Lotto Limited Kessington Adebutu (commonly referred to as “Baba Ijebu”) has signed a sponsorship deal with the Nigeria Football Federation (NFF) for an undisclosed amount.
The deal makes the betting company the official sponsor of the country’s national teams.
“We are very excited to finally seal this partnership with Premier Lotto,” NFF President Amaju Pinnick said. “We did our due diligence and Premier Lotto came out smelling like roses. It is a partnership that we believe will last for a long time.”
This is not the first time a private investor has partnered with the NFF.
On Sept. 1, businessman Allen Onyema’s Air Peace, a premium airline brand, signed a one-year renewable sponsorship deal with the NFF to support Nigeria’s national football teams.
After the closing of the deal, valued at N300 million ($729,102), Air Peace became the teams’ official airline carrier.
Adebutu is the founder of Lagos-based gaming company Premier Lotto, which offers lotto services and betting on major sporting events in Nigeria. It is Nigeria’s oldest and leading gaming company.
In addition to his betting business, Adebutu holds a 69.9-percent stake in Arbico Plc, a construction company listed on the Nigerian Exchange Group, where he serves as the chairman. He also owns a 27.7-percent controlling stake in a Nigerian commercial bank. The stake amounts to 10,685,688,150 shares.