Coronation Insurance, one of Nigeria’s leading insurance companies, has announced its
corporate sponsorship of the World Tennis Tournament in a bid to boost the country’s Gross Domestic Product (GDP).
The tournament, initiated by the International Table Tennis Federation (ITTF) in 2019, is a prestigious event showcasing highly skilled professional table tennis players from around the world.
Taking place at the Molade Okoya Thomas Indoor Sports Hall of the Teslim Balogun Stadium in Lagos from yesterday until June 18, 2023, the tournament will feature renowned players from countries such as China, Tapei, Korea, Germany, Portugal, Denmark, Egypt, Slovakia, Poland, and Sweden.
In support of the WTT Tournament, Mr. Olamide Olajolo, the CEO of Coronation Insurance
Plc, emphasized the urgent need to assist national sporting bodies in implementing targeted fundraising programs and allocating resources to sports. He highlighted the multifaceted benefits of the WTT Contender competition, including the improvement of fundamental social and interpersonal skills, crime reduction, and the promotion of national unity.
Mr. Olajolo also stressed the importance of boosting private investors’ confidence in the sports industry to encourage their active participation in its business aspect.
Akinlolu Akinyele, CEO of Coronation Life Assurance, expressed excitement about their
involvement in this groundbreaking tennis tournament. He recognized the potential of
sporting events like the WTT Contender Tournament to democratize wealth creation and
access, thereby promoting participation in sports across all levels of education, from primary to tertiary institutions.
Coronation Insurance’s sponsorship of the World Tennis Tournament signifies their
commitment to driving economic growth in Nigeria. By supporting such a high-profile
sporting event, the company aims to enhance the country’s GDP through increased
investment, job creation, and the development of sports-related infrastructure.
Additionally, their sponsorship showcases a dedication to fostering a sense of national pride and unity through sports.
World Tennis Tournament serves as a platform to showcase Nigeria’s potential as a host for international sporting events. It presents an opportunity to attract foreign visitors, generate tourism revenue, and raise the country’s global profile.
