INVESTMENT PROMOTION IN SPORTS AND THE PRIVATE SECTOR INITIATIVE: CHALLENGES AND PROSPECTS

This paper assessed the prospects and challenges of investment promotion in the Nigerian sports sector with regards to the private sector initiative. The paper is basically a review which examined the issue of investment promotion in sports in Nigeria vis-à-vis the roles the private sector can play. The paper noted that though the private sector investment in sports is already a practice in some developed and developing nations of the world, not much is being achieved in this area of sports development in Nigeria due mainly to the non–categorical stance of the Nigerian Sports Development Policy and the failure of the government to boldly define the roles of the private sector in relation to sports development in Nigeria. The paper highlighted areas where investments can be made in the area of sports. While pointing out some of the prospects accruable from encouraging the private sector to invest in sports development in Nigeria, the paper further noted the challenges being faced in bringing about such investments in sports. Based on the observations of this paper, far reaching recommendations were proffered for the improvement of the investment promotion drives in sports in Nigeria.