Rehabilitating Stadium Facilities Will Boost Sports Potential- Sports Minister

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The employment and revenue generation potentials in the nation’s sports industry would be realized when there is a rationalization of sporting facilities in country to better position them as recreation and economic hubs.

This assertion was the outcome of a meeting between the ministry and the Bureau of Public Enterprises (BPE) to discuss the commercialization of the national stadia.

The Minister of Youth and Sports, Mr. Sunday Dare expressed his satisfaction at BPE’s willingness to work with the Infrastructure Concession and Regulatory Commission (ICRC) on the future of the nation’s stadia, noting that stakeholders can now work to accelerate the process.

He stressed that “we will drive this as quickly as possible.”

The Director General of BPE, Mr. Alexander Ayoola Okoh, had told the minister that his agency will be exercise pre-transaction mandate as a project manager while ICRC has post-transaction mandate in addition to its role as a post-concession regulator.

Mr. Okoh revealed that his Bureau has the budgetary provision conclude the transaction thereby removing the burden from the ministry, which had been unable to engage a transaction advisor for the concession of the stadia.

He said “the federal government owned stadia are listed in the BPE Act for reforms and concession but there have been challenges with maintenance and funding.”

The Director General implored the ministry to reconstitute a steering committee, headed by the Minister of Youth and Sports Development, with responsibility of managing the transaction that will lead to the concession of the National Stadium, Lagos.

The initial rounds of talks focused on the National Stadium, Surulere Lagos. ICRC officials had last week held a similar meeting with the ministry.

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