Sunday Dare reveals plan to reclassify sports into self-sutainable ‘business’
The Minister of Youth and Sports development, Sunday Dare has revealed the federal government’s new plans to reclassify sports in Nigeria.
The Nigeria government is identified as the major proprietor of sports in terms of funding and infrastructural development but with the new policy to be put in place, sports will experience a massive turnover to becoming self-sustainable and even contributing to the economy.
The scheme, indicated to be centered on major sports leagues, is to be achieved by the implementation of licensing and financial controls.
“In June, the Federal executive council, actually, for the first time reclassified sports from mere recreation to business,” Sunday Dare said at an event in Lagos on Tuesday.
“Go to Jamaica, Brazil, South Africa; countries where sports is built around a business model, you see the returns.”
The Sports minister also revealed the country generates around 350 million naira annually which is ridiculously low compared to other nations.
“…in the UK $42 billion every year, in the United States $38 billion and globally $1.3 trillion whereas in Nigeria we get #350 million.
“Now we want to explore the possibilities, the potentials, so that this country can also try to reap from sports as a business,” he concluded.
The Sports ministry are currently in talks with the Federal Government and Presidential Task Force over the resumption of contact sports.