Coronation Insurance Plc has announced its corporate sponsorship of the World Tennis Tournament will boost Nigeria’s Gross Domestic Product.
He stated that “no doubt, the WTT Contender competition helps to improve fundamental social and interpersonal skills, which aids in crime reduction and building national unity. It is also important to note that Nigeria needs to boost private investors’ confidence in the industry so they can fully participate in the business aspect of sports.”
Accessing the impact of sports on Nigeria’s GDP, the report shows that the entertainment and recreation sector contributed 0.19 per cent, 0.31 in per cent, 0.33 per cent and 0.35 per cent to the Nigerian GDP in 2019, 2020, 2021 and 2022 respectively. “Indeed, Sporting tournaments such as the WTT Contender Tournament can be utilized as a medium to democratize wealth creation and access, thereby encouraging participation in all sporting activities in primary, secondary, and tertiary educational institutions.”
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