NSC Explores Sustainable Private Sector Driven Funding Models for Greater Sports Development :Set to tap into fast-growing eSports market
The National Sports Commission (NSC) has reaffirmed its dedication to establishing a sustainable sports economy, with a focus on harnessing the potential of the rapidly growing eSports industry. This commitment was underscored during a recent session, where NSC Chairman Mallam Shehu Dikko and Director General Hon. Bukola Olopade received presentations on private sector-driven funding and development strategies for Nigerian sports.
Damilola Pedro, Co-founder and Head of Partnerships at Game Africa, delivered the first presentation, highlighting the vast potential of eSports to revolutionize Nigeria's sports economy. She emphasized the opportunities for youth empowerment through video gaming, noting that "Nigeria has a viable pathway to unlock the next billions in gaming revenue".
The second presentation, led by Osi-Apagun Lai Labode, MD/CEO of CashToken Rewards Africa, introduced the Nigeria National Public-Private Universal Sports and Social Security System (NINPPUSSS). This innovative funding model aims to generate approximately N1 Trillion annually, directed towards promoting grassroots sports development and supporting athletes.
The NSC leadership expressed optimism about leveraging these cutting-edge approaches to achieve the Commission's mandate of creating a robust and sustainable sports ecosystem. This development underscores the NSC's readiness to embrace innovative solutions, including the integration of eSports, as a critical component of Nigeria's sports and economic future.
As the eSports market continues to grow, with projections indicating a worth of USD 10.9 billion by 2032, the NSC is poised to tap into this vast potential. By exploring new approaches and modern funding models, the Commission aims to create a vibrant sports economy in Nigeria, in line with President Bola Tinubu's vision.
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