April 12, (THEWILL) – The Nigerian Minister of Youth and Sports Development, Sunday Dare, has announced that the Sports Industry Policy’s reclassification of sports as a business will ensure the country’s sporting infrastructure never experiences neglect again.
The incentives approved by the Federal Executive Council will allow for private sector financing of stadiums and other infrastructure. During an inspection of the National Stadium in Surulere, Lagos, which had been abandoned for almost 18 years, Dare stated that he will leverage these incentives to rehabilitate Nigeria’s major sporting infrastructures.
Dare’s rehabilitation efforts include the National Stadium in Lagos, Abuja, and Ibadan. The cost of renovating stadiums around the world is enormous, with the National Stadium in Lagos estimated at $41 million, roughly N21 billion.
Despite the challenges, Dare remains determined to improve Nigeria’s sporting infrastructure. He urged Chief Adebutu Kessington to take up different sections of the stadium, as he was the only sponsor who responded positively. Dare’s decision to reclassify sports as a business and enact the Sports Industry Policy will be a significant achievement during his tenure as Sports Minister.
With the FEC-approved incentives soon to take effect, private sector financing of stadiums and other infrastructure will be possible. Dare’s efforts to rehabilitate Nigeria’s major sporting infrastructure will enhance the country’s sports culture and inspire future generations of athletes.
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
