Africa’s richest man, Aliko Dangote, is investing $1b in the renovation of the Moshood Abiola  National Stadium, previously known as Abuja Stadium.

READ ALSO / Court declares compulsory blood donation in Lagos hospitals illegal

In concession agreements, the Bureau of Public Enterprises (BPE) granted Dangote Group and Premier Lotto popularly called Baba Ijebu, the right to renovate and operate the Abuja Stadium and the dilapidated National Stadium in Surulere, Lagos respectively.

Youth and Sports Minister, Sunday Dare, gave an update on the pilot concessions when the Director-General, Bureau of Public Enterprises (BPE), Mr. Alex Okoh, paid him a working visit.

Dare who lamented the paucity of funds describing it as the biggest challenges bedevilling sports in the country, however said with the concession, government has found a panacea.

He said: “Julius Berger after they built the National Stadium snap a bill of N1.2 billion every year for maintenance, the ministry and the government cannot afford it. So what has happened over the years?

“The Abuja national stadium is very particular. We had professionals fixing the grass, now we started bringing  labourers to use cutlass and hoe to clear the grass. We started  adoption programme  to bring some level of actives in Abuja stadium

“We have Aliko Dangote investing $1 billion  to bring the stadium back to world standard. Work has started all over the place, while Baba Ijebu is willing to invest half a N500 million into the national stadium.

“The BPE is a critical partner along with  the ICRC. We have been having conversation. We have reached the point where we  need to put together the bid document so that we can have the private fund to support  sport development.

“We have restarted that process because we witnessed a lot sometimes in November. There is a new commitment to look at holistic manner, such that we can use both the National Stadium, Lagos and Moshood Abiola Stadium, Abuja as pilot stadiums for full commercialisation.

“We are going to do this looking at global benchmark and acceptable standard.  The template of course is global. I don’t think it’s going to be different when it comes to Nigeria.  We are working on the assignment of roads, we are looking at timelines.  I must say the government of Nigeria and the ministry is really interested in making sure that this project is accelerated and completed.”