Disrupting the Game: How Nigeria's Sports as Business Policy is Challenging Traditional Sport Models.

Minister of Youth and Sports Development, @SundayDareSD, met sports writers in Lagos.

 

We delivered the Sports as Business Policy, the first of its kind approved in November 2022. With a business model designed & approved, govt incentives are expected to attract 55 to 65 percent private sector funding into sports development, especially infrastructure, Mr. Sunday Dare said.

Sports as business policy firms up the earlier reclassification of Sports from mere recreation to business. It is based on three triggers: Infrastructure, INCENTIVES, and Investments. The 10 percent budgeted for sports facility maintenance, not Infrastructure is grossly low.

Under the new National Development Plan  2021-2025 approved in 2022, we have secured 80 billion nairas for Sports Development and 60 billion for Youth Development. 

In total, the Federal Executive Council (FEC)  allocated N140 billion to Youth and Sports development in the next 3 years.

...This approval will be the first time that sports are included in the plan as a business. Unlike the ESP and ERGP, the NDP 2021-2025 is developed through an investment plan of N348.1 trillion from both the public and private sectors. The public sectors include the FG, SGs, and LGs.

Read more here.

Sunday Dare on Sports as Business

By Staff writer.