The Federal Government has pledged its support for the revitalisation of the Nigerian boxing industry.
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, disclosed this today when the Secretary-General of the Nigeria Boxing Federation (NBF), Mr Olalekan Faseein, visited him in his office in Abuja.
While emphasising the government’s commitment to using sports as a tool for economic development, the minister stated that the revitalisation of boxing was a move expected to create new economic opportunities for youth and businesses within the sector.
The minister also assured the NBF of continued collaboration to reposition Nigerian boxing industry for both national and international recognition, aligning it with broader efforts to diversify the nation’s economy by leveraging sports as a platform for talent development, youth empowerment, and business growth.
Also present at the meeting was the co-founder and CEO of African Knockout, Ms Natalia Belousova, highlighting growing private sector interest in the sport’s economic potential.
Mohammed Manga, the Director of Information and Public Relations in the ministry, explained in a press release that the development was “a significant move to create job opportunities for our teeming youth as well as improve economic growth and socio-economic development of the country.”
He said: “Edun’s backing is set to drive job creation in areas such as coaching, event management, and sports marketing while also providing young athletes with a pathway to professional success.”
He added: “With this commitment, the Federal Government reaffirms its dedication to harnessing the potential of sports to drive economic growth, create opportunities for youth, and promote national pride.
“As Nigerian boxing continues to evolve, its revitalisation is poised to yield a brighter future for the sport and its stakeholders.”
