The federal government has launched ten-man national sports as a business policy technical committee to draw up details of the incentives that will be in the policy.
Sunday Dare, minister of sports and youth development, inaugurated the committee on Tuesday in Abuja.
The minister said the first-ever national sports industry policy approved by President Muhammadu Buhari in November last year is aimed at moving sports in Nigeria from recreation to business.
The committee, to be coordinated by Zainab Ahmed, the minister of finance, was charged with the responsibility of working out modalities for the successful transition of sports from recreation to business.
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“For over three years now, the ministry has been at work reviewing past sports policies and also dealing with the weaknesses therein. The major weakness was that sports was not a business and therefore placed financial burden on the federal government,” he said.
Dare said the ministry decided to look at sports as business to enable the industry also contribute to the gross domestic product of the nation in line with global practices.
“This policy, if handled appropriately, can among others contribute to the annual GDP of Nigeria, provide employment for about two to five million youth, grants, other necessary supports as well as scholarships for athletes,” he added
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Members of the technical committee include Ladan Haruna, Chinedu Louisa Okeke, Dominic Akuboh, Tabitha Dagyol, and Ikenna Nwosu.
Others are Amaechi Akawo, Bamiduro Olumide, and Chasing Madumumere as well as representatives of the Central Bank of Nigeria, Customs and Excise.
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