Former Minister of Works and Housing, Babatunde Raji Fashola, on Sunday called for a complete overhaul of Nigeria’s football business model, saying the sports sector could become a major driver of economic growth and job creation if treated as a serious industry.
Fashola made the call while delivering the keynote address at the public presentation of Sports Spectacle, the autobiography of veteran sports journalist Mumini Alao, held at the University of Lagos. The event brought together sports administrators, journalists, athletes, policymakers, and fans.
“We have been looking for solutions to youth unemployment, but one of the biggest solutions is hiding in plain sight, sports,” Fashola said.
“Sports is not just for leisure or recreation; it is a business that can feed families, build careers, and strengthen the economy.”
In his address, titled “Re-thinking the Current Football Business Model in Nigeria as a Catalyst for Sports Development”, Fashola outlined what he described as urgent reforms. These include restructuring sports governance, improving stadium safety, investing in modern training facilities, and providing incentives to attract serious private sector investors.
He pointed to global examples to illustrate the potential.
“The English Premier League contributes billions of pounds annually to the British economy and employs thousands, from players and coaches to groundskeepers and media crews,” he said. “Saudi Arabia is investing billions in sports because they know it’s a future-proof industry. We cannot afford to keep playing catch-up.”
While acknowledging football’s dominance in Nigeria, Fashola stressed the importance of diversifying into other sports.
“Football is our passion, but it should not be our only sport. Basketball, athletics, boxing, wrestling, these can all create jobs and inspire our young people if we develop them with the same commitment,” he said.
Fashola also urged that sports be integrated into Nigeria’s broader economic and social planning. “Sports is soft power. It builds international reputation, unites communities, and drives tourism. We must see it as part of our development plan, not just an afterthought,” he said.
He emphasised that success would require consistency and political will. “Sports development is a marathon, not a sprint. We cannot start and stop every four years when governments change. The countries dominating the Olympics today started preparing over a decade ago,” Fashola noted.
“Yesterday’s hobbies have become full-time, well-paid professions in today’s global economy. If we don’t act now, we will miss out, and our young people will continue to search for jobs that are not there,” he said.
With Nigeria facing stubbornly high youth unemployment rates, the former Lagos State governor warned that failing to harness the economic potential of sports would be a costly mistake.
