Minister of Youth and Sports development, Sunday Dare, has revealed that major sports Leagues and competitions in the Country will contribute a projected 2-3% of the GDP with the new policy as he earlier projected that sports will now be classified as Business henceforth going into the new sports season following the COVID-19 disruption with support from President Muhammadu Buhari.
”In June, the Federal executive council, actually, for the first time reclassified sports from mere recreation to business.
“Go to Jamaica, Brazil, South Africa; countries where sports are built around a business model, you see the returns.
“In the UK 42billion dollars every year, in the US 38billion dollars every year, globally 1.3 trillion dollars in Nigeria 350million dollars. Now we want to explore the possibilities, the potentials so that this country can also try to reap from sports as a business,” he explained.
