INTRODUCTION

1. PROSPECT AND CHALLENGES OF EVENT MANAGEMENTBYPROFESSOR C.I.C. OKOLI, KSJI, FHATMANHEAD OF DEPARTMENT OF HOSPITALITY AND TOURISM MANAGEMENTIMO STATE UNIVERSITY, OWERRIE-mail: ada4we@yahoo.cowww.chuokoli.comPAPER PRESENTED AT THE 1ST NATIONAL CONFERENCE ON EVENT MANAGEMENT ORGANIZED BY THE IRISH ACADEMY OF PUBLIC RELATIONS IN COLLABORATION WITH DORBEN POLYTECHNIC, ABUJA HELD AT ABUJA ON 11TH – 12TH MARCH, 2014.

2. INTRODUCTION “No event, no history”. The age-long saying betrays the etymological background and contextual dimension of event derived from the Latin word, "eventus", meaning happening, event is a memorable public occasion which a large number of people is invited. Often joyous but seldom sorrowful, events of various scopes and levels are organized for a number- of purposes by individuals, groups and corporate entities; celebrations, fund raising, public awareness, pilgrimage, crusade, sports, public presentation, etc. The biblical accounts of the wedding at Canan and the Royal Banquet are indications that event transcends ancient and modern traditions, Extant definitions of event have been attempted by Bhatia (2006) and Okoii (2007). Event is classified 'in terms of size (scope) and type, (Getz, 1997).

3. 1. Major Events: These are events that are capable of attracting significant number of visitors, media coverage and economic benefits, Many national and international sporting championships and cultural festivals fall into this category e.g. World cup finals, Olympic Games, African cup of championships, Oshun-Oshogbo and Argungu fishing festivals, etc. 2. Hallmark Events: These refer to events that are indentified with the spirit dof echoes of a town, city or region and have become synonymous with the name of the location or venue, gained wide recognition and are organized primarily to enhance awareness, appeal and profitability of a tourism destination. E.g. Rio Carnival (Brazil) Calabar carnival, Oshun-Oshogbo, Argungu fishing festival etc.

4. 3. Mega Events: These are those events that attract extra-ordinary high level of media coverage, prestige or economic impact for the host community or destination. Getz (1997) describes a mega event in this vein: The volume of participants or visitors should exceed one million, its capital costs should be ‘a must see’ event by way of its size or significance. Hall (1992) sees mega events as those events which are expressly targeted at the international tourism market and may be suitably described as ‘mega’ by virtue of their size in terms of attendance, target market, level of public finance involved, political effects, extent of media coverage, construction of facilities and impact on the economic and social fabric of the community. According to Cable News Network (CNN) the 2014 Winter Olympic (soh 2014 Feb. 8th – Feb. 24th cost Russia 68 billion US Dollars and involved fifteen thousand athletes from 35 countries.

5. In terms of type, Okoli (2011) categorizes events into the following: • Social: Wedding, house warming, reception, celebration • Economic: Annual General Meetings, trade fairs, industrial expo. • Educational: Matriculation, graduation, conference • Religion: Pilgrimage, crusade, congress • Political: Congress, inauguration, convention • Sports: Tournaments, competition, etc. Each event in any of these categories finds its level In terms of organization and attendance and also makes its own history. We recall with nostalgia some epoch making events that took place in the century:

6. The funeral of princess Diana in London in 1997 • The funeral of Michael Jackson in Los, Angeles, USA, June 2009. • The funeral of Nelson Mandela in Cape Town, South Africa, December, 2013: • The Royal Wedding of Prince William and Princess Catherine in London in 2011. • The Diamond Jubilee of Queen Elizabeth of England in May, 2012. • The inauguration of Barak Obama as the first black President of USA in Jan, 2009. • The London Olympic and Paralympics in July 2012. • The World Cup Finals in South Africa July, 2010. • The African Cup of National Competition, South African Jan, 2013. • The World Economic Summit, Devos, Switzerland, December 2013. • The Sochi Winter Olympics, 8th Feb-24th February, 2014.

7. All of the above are social, political and sporting events of major and mega dimensions. These events took place and history was made. In this millennium, event has become a big deal. Countries jostle for hosting rights of mega events, organizations competitively bid for construction of facilities while individuals and companies apply to be engaged in the organization and management of events. Currently, event is high up a Nigerian social trajectory ignoring the harsh economic environment in the country. Nigerians still find resources and time to celebrate birthdays, weddings, child dedication and other private family events. The generality of Nigerians relish festivals which Getz (1996) referred to as themed public celebrations which extend leisure and cultural opportunities beyond everyday experiences and choices.

8. Such themed calanderical events, include the Christmas, New Year, Easter, Id L’fitri and Id L’malud, Valentine day and National. The social diary of every Nigerian tends to be congested seven days of the week. The week days ,(Monday-Friday) are set aside for conferences, workshops, corporate board meetings, matriculation, convocation, book/product launching while the weekends have slots for burials, weddings, child dedications, fundraising, anniversaries, thanksgivings and harvests etc. Opportunities throw themselves up, once in a short while, for Nigerians to get together in droves under one roof for a common purpose: celebration, fundraising, launching and publicity, etc. A good number of these events are hosted by government, corporate bodies and private individuals and groups of individuals who have the resources but lack time and disposition in their wisdom, they choose to outsource the hosting. There are also those who provide and market event facilities and items. The symbiotic and synergistic linkages between the event brokers and facility providers have created the entrepreneurial investment cluster of event management which has become a new paradigm of hospitality industry.

9. So far, we have attempted to establish the concept and context of event as well as its trend in Nigeria. This paper will evaluate the investment opportunities in event management and their chances of sustainable success in Nigeria's hospitality market, the contemporary issues and challenges being encountered down the road. THE BUSINESS OF EVENT MANAGEMENT No matter the type and size of an event, the host looks forward to a successful showing in terms of the turn-out and achieving the set objectives. The event activities need to be planned, organized, coordinated and controlled. In order Words, management functions need to be applied. The totality of decisions, tasks and activities that are involved in the hosting of an event is event management. Event management requires cognitive ability, technical and communication skills while event management business it evaluate in terms of both financial and technical feasibility.

10. In event management decisions need to be taken regarding the following: • Theme of the event • Venue / location • Date • Invitations • Budgeting / finance • Programme • Protocol (Usher, MC, D.J. Servers) • Arrangement of venue • Logistics • Entertainment • Security • Publicity / Public relations

11. Any event to which more than 1000 people are invited will be considered as a big even and should be handled professionally, otherwise situation at the hosting venue would be chaotic. The activities and tasks are, therefore, out-sourced entirely or partially to professionals even planners of management professionalism in event management entails offering consultancy services to prospective hosts, planning and proposing for hosting of events, handling various aspects of hosting tasks and activities and supplying and providing event facilities, materials and personnel.

12. Another important players in the event management field are the entrepreneurs an investors. These are people who stake their resources in event projects with a view to making some returns in due course. These business men and women hold out their property for rent or lease as banquet halls, convention halls, campsites, outdoor recreational facilities. They also operate catering services, rentals for canopies, chairs and communication systems and assorted event accessories. Okoli (2013) notes that seven days in the week (Sunday through Saturdays) young and middle-aged Nigerians earn their living through planning, organizing and providing support materials and services for conferences, weddings and funerals. Event management is receiving due consideration by entrepreneurs as a very profitable venture, a fast growing commercial cluster looking to become the hub of the hospitality and tourism industry.

13. Prospects of Event Management Enterprise in Nigeria Okoli (2012) observes that event is the current trend in the hospitality industry. Event-driven catering enterprises have emerged in major Nigerian cities. Banqueting and outdoor catering are now the flourishing aspects of hotel operations while contract catering has become a lucrative business. Banquet halls, reception halls, town halls and event tents have become common features of hotel property planning, design and layout management: bookings for .event venues are outstripping those for accommodation. A good number of hotels in the cities actually earn more revenues for event hosting than from accommodation and food and beverage services, conferences, conventions, annual general meetings during week days and wedding receptions at week ends.

14. Now and in the near future, event management will continue to occupy the centre stage of commercial hospitality in Nigeria. Socio-economic horizon of corporate Nigeria very much favours investments and entrepreneurship in event management: 1. The prevailing economic order dictates private sector-driven market economy. There has been an upsurge in private enterprises as a reaction to this development, investors are breaking new grounds in logistics technologies and processes to hosting social and sports events. 2. About 60% of Nigerians are estimated to be within 19-39 years age bracket. This is the most mobile, active and industrious demographic group. It is this ,group that organizes and participates in events and have the capacity for event business undertakings.

15. 3. At the turn of the century (2151 ) the Nigerian middle class has expected the level of urbanization and personal and corporate incomes have also increased. There is a growing trend towards elaborate celebrations of life, death and achievement, Fridays, Saturdays and Sundays have been appropriated for such events. 4. Nigeria has been rated as the second largest economy and the most populous country in Africa. This rating confers on her an enormous strategic business advantage, Nigeria is a large market for event products and services which investors and entrepreneurs already have at their disposal. 5. Nigerians are in the golden age of events-book launch, product launch, annual general meetings, high society, weddings, big sports, hosting, political summit, hosting, etc investors and entrepreneurs in event, management will nave to buy into this event goldmine.

16. 6. Growing rate of urbanization and urban-rural integration holds good, promise for event management Lagos, Abuja, Ibadan, Kano, Port-Harcourt, Onitsha and Owerri have witnessed enormous increase in landmass, urbanization and population. These cities have become mega and metro' cities and now have the so-called, satellite towns, e.g. “Greater Owerri”. Lagos is placed as the second largest city in Africa after Cairo but it is the continent's fastest growing city, The population of Lagos is being projected to 25 million by the next (2016) census. In the South. East the rate of urban-rural integration is such that one begins to wonder whether rural areas do exist any longer e.g. Onitsha - Nnewi axis, Onitsha-Ihiala, Nnewi- Mgbidi-Oru - Ihialla, Oru - Akokwa, etc. These urban-rural integration phenomena have given rise to rapid commercial and industrial development which is being leveraged by the event management entrepreneurs.

17. 7. The current level of community development human development and social awareness in Nigeria is impressive and is being also leveraged by event entrepreneurs and investors for successful and profitable event management business. Event is people oriented activity and only enlightened minds and socially disposed individuals will think of such “past times” as anniversaries, celebrations, public relations and high profile wedding receptions as hosts or invitees.

18. 8. Despite few occasional political hiccups in the polity, Nigeria has remained relatively peaceful and politically stable. Being resilient, Nigerians have a track record of always and at all times being able to get over challenges or nation-building and friendly - and hospitable disposition, her rising profile in international sports and diplomacy all add up to her credentials forbidding for the hosting right for any international event. Only in 2003, Nigeria hosted the African Cup of Nations Competition (COJA, 2003) and the Common Wealth meeting of Heads of State and Government (CHOGM, 2003).

19. 9. The rating of event management as successful business by Nigerian entrepreneurs and investors is high. Survey was conducted on a selected number of people involved in event business drawl. from hotels restaurants, rentals, event planners and organizers and providers/suppliers of event support materials based in Owerri, lrno State capital (Okoli, 2013). The findings of the study indicate that: (i)Nigerian investors and entrepreneurs are sufficiently aware of the enormous business, opportunities existing in event management. (ii)Nigerian investors and entrepreneurs highly appreciate event management as profitable business venture. (iii)Event management is making significant impact on the hospitality industry in Nigeria. (iv)The prospects of event management in Nigeria are very bright.

20. The Challenges in Event Management Business Despite the enormous opportunities that exist in the event management business there are some challenges that confront the event entrepreneur and investor: 1. Competition: Being a new field event management that attracted a large number of people within a short time and this The new entrant into the business is faced wit the problem of finding his feet in a turf that is not level each investor enters the field at his own operational level according to the resources at his disposal. The job puts him on the edge. To remain in business, therefore, he has to be innovative, resourceful and hardworking.

21. 2. Event management is a complex web of activities. One, therefore, requires training and experience in technical, social and managerial skill before Venturing into the business. 3. Event management business requires reaching out to prospective clientele. Mobility, connectivity and high level contacts are necessary. Information and communication technologies need to be acquired and utilized by event management entrepreneur. Not many entrepreneurs in event management can afford these essential facilities. 4. Like every other consultancy and contract deals, event management business does not come-by regularly. Therefore, income from event management business in not regular. This situation throws up the challenge of economic planning and financial management on the even manager. Uncertainty of the outcomes of the investment makes event business risky.

22. 5. Perhaps the greatest challenges facing event business entrepreneurs in Nigeria is lack of capacity: financial, technical, structural and human. The entrepreneurs do not have free access to the formal financial institutions which consider event management as social service and therefore, not bankable. This financial handicap debars them from tapping into modern technologies of electronic board, projectors, multi system's and CIT system. Because the event managers lack the capacity to leverage the innovation in technology, investment in event management is grossly deficient in technical feasibility.

23. A good number of people who get involved in event management lack professional training and expertise but event management requires communication skill, public relations. Well equipped event centres are lacking. Most events are conducted in make shift and substandard venues. It is encouraging that there are venues of international standard like the international conference centre, Abuja, the LadiKwali Hall Sheraton Hotel, Yaradua centre Abuja, Muson centre and “This Day” event centre in Lagos all the various event tents being erected here and there However, Nigerians needs to invest in standard event centres equipped with sound proof, audio-visual, C.I.T and essential state-of-the art technologies in line with the exigencies of globalization.

24. 6. Infrastructural deficit being experienced across the country especially electricity, rubs off on event Management. Electricity is required not only to light up the venue but also to power essential gadgets and instruments. The resilient Nigerians have become used to power outages that occur even at the critical stage of events. Event organizers always have to make contingency plans for electricity supply which shoots up their operational costs and which are transferred to clients. Electricity capacity of 3.3 thousand Kilo watts is grossly inadequate for a country harboring an estimated population of 160 million people. Accessibility, communicability and safety of event venues are also challenges that need to be addressed.

25. CONCLUSION Event management is fast evolving as business in Nigeria in recent years a lot of Nigerian investors and entrepreneurs are staking their capitals in event planning and organizing as well as in provision and supply of event venues, materials and equipment. A lot of factors are prevailing to offer good opportunities for success in event investments. These include increasing rate of social development, urbanization and. awareness coupled with expanding middle class and broad range of mobile active demographic group. Despite the bright prospects for event management there are some challenges of financial, technical and infrastructural nature which need to be addressed in order to get event management well on course as a fast growing economic sector in Nigeria.

26. REFERENCES Bhatia, A.K. (2006), The business of tourism, concepts and strategies. New Delhi: Sterling Publishers. Okoli, C. (2007), Event management: spotlight on hospitality and Tourism. Owerri: VVebs Media Communications. Okoli, C. (2012), Impact of event management on hospitality and tourism. Paper presented at the seminar on event management department of Archeology and tourism UNN 20th Sept, 2012. Okoli, C. (2013), Evolution of event management business in Nigeria. (in print) www.chuokoli.com Getz, D. (1997), Event management and event tourism New York: Cognizant communication corporation,