The Minister of Sports and Youth Development, Sunday Dare, has said that sports in the country would henceforth be seen as business to enable the industry contribute to the Gross Domestic Product (GDP) of the nation.
A statement signed by Mohammed Manga, Director, Press and Public Relations in the ministry, quoted Dare as saying this while inaugurating a 10-man technical committee on “national sports as business policy” in Abuja.
Dare stated that what the Ministry has introduced is in line with global practice.
“The major weakness was that sports was just categorised as recreation and service, it was not a business and therefore placed financial burden on the Federal government,” the statement quoted Dare as saying.
The 10-man committee was inaugurated to draw up the details of the incentives that would be in the National Sports as Business Policy.
While inaugurating the committee, the minister stated that the first-ever National Sports Industry Policy, approved by President Muhammad Buhari, in Council, on Nov. 2, 2022, was aimed at moving Sports in Nigeria from recreation to Business.
Dare stated that the committee which would be coordinated by the Minister of Finance, Zainab Shamsuna Ahmed, had the responsibility of working out the modalities for the successful transition of sports in the country from recreation to business.
“For over three years now, the ministry has been at work reviewing past sports policies and also dealing with the weaknesses therein.
“Looking at about 10 countries that dominate the world of global sports, the ministry decided to look at sports as business, which, if handled appropriately, can among others, contribute to the annual GDP of the country.
“It can also provide employment for about 2 to 5 million youth, grants, other necessary supports as well as scholarships for athletes,” he said.
NAN
