By Tolulope Oguntimehin 

The global sports industry has evolved into one of the most dynamic and influential economic sectors in the world, currently valued at an estimated $2.65 trillion. This vast ecosystem includes professional leagues, grassroots participation, sports media, merchandise, events, and infrastructure. Its influence spans borders, shaping economies, empowering communities, and generating employment across multiple sectors.

In Nigeria, the sports sector is steadily emerging as a critical component of national development, though it remains underappreciated by many. According to projections by the National Sports Commission, the Nigerian sports industry reached a revenue of $1.23 million in 2022. Even more significantly, it is expected to contribute up to 5% of the country’s GDP by 2027, generating between $3 to $4 billion annually. These figures reveal a goldmine of untapped potential. Yet, for a large portion of the population—and even some policymakers—sports is still viewed narrowly as leisure or mere recreation, rather than a tool for economic empowerment.

At the ongoing National Sports Festival in Abeokuta, Ogun State, Director General of the National Sports Commission, Honourable Bukola Olopade, challenged this perception head-on, using the festival’s real-time impact on the local economy as a case study.

“We have sold over 10 million Adire fabrics in just 10 days,” Olopade stated passionately. “The demand has outpaced the supply. Vendors are running out of stock, yet buyers keep pouring in. This is direct economic impact—people are making money, local businesses are thriving, and livelihoods are being improved. That’s what sports can do.”

Olopade pointed out that the economic ripple effect of hosting a major sporting event extends far beyond the stadium. “The transportation sector has experienced an unprecedented boost. The housing sector has also seen a dramatic spike in revenue, driven by over 11,000 athletes, not counting the influx of tourists, journalists, and fans who’ve arrived to witness and report the games.”

He further emphasized the surge in activity among small and medium-scale businesses, describing a telling incident that highlights how the informal economy is benefitting. “I saw a woman being harassed over the price of her amala, which she sold for ₦2,000 per plate. Some people thought it was too expensive and wanted her removed. But I stepped in and said, this is a capitalist economy—if you don’t like the price, you can buy elsewhere. But the interesting part? People kept flocking to her stall. Why? Because of the taste, the quality. That’s the power of demand and entrepreneurship.”

According to Olopade, the economic stimulation provided by sports is more sustainable and inclusive than direct financial handouts. “When the government gives out money, only a few benefit. But when we host events like this, the trickle-down effect reaches everyone. I've seen young boys and girls helping their parents meet the growing demands of customers. These youths are not involved in social vices—they’re being productive, they’re contributing to Nigeria’s GDP while building character and discipline. Sports creates jobs, builds lives, and uplifts communities.”

He called on stakeholders—media, entrepreneurs, and government officials—to reimagine the role of sports in national development. “We must begin to tell our own story. Sports is not just games and entertainment. Sports is tech. Sports is health. Sports is education. Sports is infrastructure. And above all, sports is life. It is as essential as breathing.”

Olopade reminded attendees of the transformational impact Ogun State experienced the last time it hosted the National Sports Festival in 2006. “Many became millionaires back then. This is not theory; it’s proven history. It’s time for Nigeria to treat sports with the seriousness it deserves.”

His speech was not just a celebration of the present, but a clarion call for the future. For Nigeria to harness its full economic and social potential, sports must be embraced not just as a pastime—but as a powerful driver of national prosperity.