… proposes to spend N80bn till 2025
The Federal Government has included sports into the Nigeria National Development Plan and plans to inject 80 billion into sports development over a period of 4 years- 2021-2025.
It will be recalled that the sports minister, Sunday Dare had presented to the Federal Executive Council and got the approval from the President, Muhammadu Buhari last to reclassify sports as business.
The reclassification of Sports as business and no more mere recreation paved the way for sports in the National Development Plan, hence the 80 billion earmarked for sports. The second boost for this new budget is the efforts by the Ministry to deliver a National Sports Industry Policy (NSIP).
The Minister had championed the need to build a business model around Nigeria’s Sports Development with the mantra of Sports as business.
Working with critical stakeholders, a final draft of the policy is under review by the Ministry of Justice.
Very interestingly, the NDP 2021-2025 harped on the legal and regulatory frame work needed to drive Sports as business, hence, the Sports industry and the budget approved.
The NDP also gave Youth development a boost of 60 billion earmarked for youth development focusing on building a robust MSME growth, Entrepreneurship and overall Human capital development now classified as under social development.
Under the NDP, Youth and Sports together have secured 140 billion.
Federal Ministry of Youth and Sports Development is now on the National Steering Committee of the NDP 2021-2025