L-R: Mr Fisayo Beecroft, Managing Director, Eventful Ltd; Mrs Yewande Zaccheaus, Founder and Chairman, Eventful; Mr Ben Akabueze, Director General of the Budget office for the Federal Republic of Nigeria, Mrs Ibukun Awosika, Chairman, Chair Centre Group; and Mrs Bisi Adeyemi, Non-Executive Director, Eventful Ltd/(President NBCC) during the thanksgiving event to mark Eventful’s 20th anniversary at Harbour Point, Lagos recently.
“There is a growing awareness among members of the public to leave their events management to experts and sit back and enjoy the events. In most societies, this is a representation of exposure, class and wealth. Going by this trend, the event planning business is bound to expand significantly across the world. The event planning business in Nigeria can be a lucrative and profitable venture to start-up, due to its vast market demand and on your ability to build a wide network. If you’re looking for a lucrative business to venture into, event planning business in Nigeria is a great option to explore,” a December 22, 2021 published article by Startup Tips Daily titled, ‘How to Start a Lucrative Event Planning Business in Nigeria: The Complete Guide’ stated.
This is also true of the fact that organisation and coordination is a critical item for making an event work effectively. It is also the key ingredient to making any event the talk of the town. Event planning has been on the scene since the 20th century. The earliest events and gatherings were held to promote peace and friendship among tribes and clans.
However, the event planning industry has witnessed a radical change in the 21st century due to evolving global interest in elaborate celebrations, and detailed coordination, both in unofficial meet-ups, social events as well as formal gatherings. The introduction of consumer technology such as mobile phones, 3D decorative items, among others has had a great impact on the events industry.
The global events industry has since grown from $1.1 trillion in 2018 and is expected to double its value to $2.3 trillion by 2026 at a CAGR of 10.3 percent. According to available statistics, Europe contributed the largest share revenue to the global events planning industry, and this is largely because the region hosts major international events and conferences. Other major stakeholders are the United States, Canada, Australia, and Brazil.
Event planners are making big bucks everywhere, and the Nigeria economy also benefits from this trend. Event planning was not always recognized in Nigeria. It was often overlooked for more prominent and attractive industries, but in more recent times, the industry has gained nationwide acceptance with the likes of Eventful limited, enjoying the ‘first comer’ status in the industry.
“I want you to imagine, what it takes to have a dream and to think about what it takes to transition from the dream into reality, and we’ve talked about all the human capital in eventful and succession is impossible without adequate human capital,” Ibukun Awosika, former chairman of First Bank of Nigeria and Chairman, Chair Centre Group, at the Eventful’s 20th-anniversary celebration held on Sunday 31st October, 2022, stated in relation to what it takes for a business to transition from a dream into reality and how human capital is key in business succession.
Eventful Ltd, a leading event consulting company in Nigeria recently held its thanksgiving event in celebration of its 20th anniversary, held at the Harbour Point in Lagos. Over the course of its 20-year history, Eventful Ltd has consistently delivered excellent professional services while demonstrating creativity with a vision to become the leading player in the organised events planning industry in Africa.
With a $20 billion value, the Nigerian events industry is estimated to be among the most extravagant in the developing world. Nigerians are not shy of throwing up parties in celebration of events. Besides the weekly ‘owambes’ parties across Lagos and other major cities, companies now use events as a marketing and communication tool.
From product launches to press conferences and corporate gatherings, there is hardly any passing week without about 2000 events taking place all around Nigeria. Over 20,000 events were held in Lagos state alone in 2015, and the rate has grown rapidly within and outside Lagos since then.
Although a higher percentage of events held across Nigeria are often self-organised, there is still enough room for new investors who are willing to put in the right efforts and factors such as adequate budget, right target audience, quality equipment, and excellent catering services to deepen the event ecosystem in Nigeria.
“We are excited to be celebrating this important milestone with our clients and stakeholders. Today, we are also taking a bold step to give back to our community by contributing our quota to youth entrepreneurship in Nigeria. To this end, we have partnered with the University of Lagos and the Lagos Business School to foster the spirit of entrepreneurship among students. We are an innovative company and as such we are delighted to be supporting these institutions with an endowment for the annual business pitch,” Fisayo Beecroft, the managing director, said during the thanksgiving ceremony in Lagos.
According to Beecroft, Eventful has remained at the top of the industry not only for its epoch-making corporate engagements, but also for its unforgettable weddings, memorable funerals, bespoke souks including movie production. He stated that Eventful has solidified its brands’ value proposition and far-reaching influence in the mind of the public.
However, the Nigeria’s event consulting ecosystem needs government policies to strengthen the sector. This is because as more organisations (both corporate and private) continue to embrace the hybrid events post covid-19, having the right policy in place is needed to strengthen and pivot the industry for growth.
Players in the sector are hopeful that having a government policy in place in regard to payment, cancelation, and other critical issues in the sector will set it up towards the needed sectoral growth.
According to Beecroft, as a pioneer event planner in Nigeria, Eventful is working round the clock to deepen the brand’s visibility. He said further that the level of creativity brought into the event management ecosystem was responsible for the company’s leadership position as an innovative leader in the event industry over the years; beyond enjoying the first comer’s status in the industry.
“We pride ourselves in our ability to think through and curate well-crafted experiences end to end; from design and theme to hiring of the right providers and vendors, to venue set up, and developing the appropriate budgets in accordance with clients’ desires, professionalism is our watchword,” he said.
Beecroft added that Eventful only works with reputable providers who have a track record of success in their respective fields of endeavour and who have demonstrated integrity. “We uphold the highest standards; excellence is one of our core values and we believe that is the minimum expected of a professional,” he said.
Omolola Owo, the head of events at Eventful, while speaking on the company’s growth, achievements, transition, and legacy of the organisation, revealed that the event consulting firm created EventfulPlus as a vehicle for the Gen-Z and Millennial.
“As an event company, we keep evolving all the time, trying to make sure that we are the first in the game; the smooth leadership transition in 2021 for us as a company is an achievement considering we have maintained an upward growth trajectory for this two-decade old institution even after the founder Yewande Zaccheaus retired,” Owo said.
She stated further that with over 2000 events planned already, Eventful has remained at the top of the industry not only for its epoch-making corporate engagements, but also for its unforgettable weddings, memorable funerals, and more recently bespoke Souks. “Eventful has solidified its brands’ value proposition and far-reaching influence in the mind of the public,” she said.
Eventful Ltd was founded in 2002 to serve the needs of corporate and individual clients. According to Owo, over the course of its 20-year history, Eventful has consistently delivered excellent professional services while demonstrating creativity with a vision to become the leading player in the organised events planning industry in Africa.
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