World Cup Absence Reflects Nigeria’s Governance Deficit, Experts Say

Nigeria’s repeated failure to qualify for the FIFA World Cup is a symptom of deeper governance challenges, weak institutions, inadequate investment in human capital and worsening insecurity, economists, financial experts, policymakers and sports administrators have said.

The experts made the assertion at the Cowry Asset Management Quarterly Economic Discourse held in Lagos. The event, themed: “Nigeria’s Consecutive Worsening World Cup Misses and Worsening Insecurity: The Economic Performance Nexus,” examined the relationship between sports performance, governance and economic development.

Speakers agreed that Nigeria’s declining fortunes in international football are not merely a sporting concern but a reflection of broader structural deficiencies that continue to undermine national development and economic competitiveness.

In his opening remarks, the Managing Director of Cowry Asset Management, Johnson Chukwu, said sports should be recognized as a strategic economic sector capable of creating jobs, stimulating entrepreneurship and empowering millions of young Nigerians.

According to him, countries that achieve sustainable development deliberately invest in human capital from an early age, building strong educational systems and talent development programmes that produce long-term economic benefits.

Chukwu said: “Development is not a happenstance. Countries that attain sustainable development deliberately nurture their human capital from childhood, investing in education, skill acquisition and talent development long before the results become visible.”

He noted that although Nigeria failed to qualify for the World Cup, 16 players of Nigerian descent represented nine other countries at the tournament, describing the development as evidence of the country’s inability to harness and retain its abundant talent.

Chukwu observed that while successful football nations immediately begin restructuring and planning for the next tournament after every competition, Nigeria continues to operate without a clear long-term strategy despite having an estimated population of over 240 million people, about 42 per cent of whom are youths.

He also identified insecurity including terrorism, banditry, kidnapping and pipeline vandalism as one of the country’s greatest impediments to economic growth, saying it has contributed to brain drain while discouraging both local and foreign investment.

Former President of the Nigeria Football Federation (NFF), Amaju Pinnick, reinforced the link between sports and economic development, citing countries such as England and Morocco as examples of nations that have leveraged deliberate government policies and private sector collaboration to build thriving sports economies.

Pinnick noted that although Nigeria’s education sector ranks 112th globally, the country’s sports sector ranks 26th, indicating enormous untapped economic potential.

He advocated stronger public-private partnerships in sports development, recalling that Nigeria’s successful qualification for the 2018 FIFA World Cup was driven by player confidence, institutional support and strategic commercial partnerships with global sports brands such as Nike and Adidas.

Speaking on the broader economy, economist and banker Chinwe Egwim acknowledged recent improvements in exchange rate stability and the impressive performance of the Nigerian stock market, which she described as one of the world’s best-performing markets.

She, however, urged government to sustain reforms by directing policy support towards productive sectors including agriculture, manufacturing, real estate and the creative industry to accelerate economic growth and job creation.

Economist and Data Analyst, Prof. Bongo Adi, highlighted the burden imposed by poor infrastructure, rising operating costs and illegal levies imposed by non-state actors, arguing that these factors continue to erode business productivity and discourage investment.

Delivering one of the strongest interventions at the forum, Public Policy, expert Dakuku Peterside said Nigeria’s football fortunes accurately reflect the state of governance in the country.

“Football is a reflection of everything right and wrong with our nation. There are no long-term plans, no systems, no structures. Our failure in football is not a coincidence, but a mirror of everything wrong at home,” Peterside said.

He stressed that sustainable national development requires strong institutions capable of implementing long-term policies beyond political administrations, adding that enduring systems not personalities remain the foundation of national progress.

Participants at the discourse concluded that Nigeria’s repeated World Cup absence should serve as a wake-up call for policymakers to address systemic governance failures, strengthen institutions, invest in human capital and improve security as essential prerequisites for sustained economic growth and international competitiveness.

Cowry Asset Management said its Quarterly Economic Discourse remains committed to promoting evidence-based conversations on governance, macroeconomic policy and investment, with the objective of supporting reforms that will enhance Nigeria’s competitiveness and deliver sustainable value to investors and the wider economy.