For the first time in the history of Nigeria’s National Development Plan, Sports is now included as business with the plan to inject N80 billion into the nation’s sports development in over a period of 4 years- 2021-2025.
Recall that in the Economic Recovery and Growth Plan (ERGP) 2017-2020, Sports was totally excluded and ended up with zero budget.
The Approval reclassifying Sports as business by President Muhammadu Buhari last year after the presentation of the Minister of Youth and Sports Development to the Federal Executive Council was instrumental to bringing sports into the business category in the budgeting process.
Thus, it can be said that 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).
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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 N60 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- a record no doubt.
Federal Ministry of Youth and Sports Development is now on the National Steering Committee of the NDP 2021-2025.
3 Comments
Abeg use some to invest in our stadium. We need like 3 more standard stadium like the one in akwa ibom. Thanks!
Minister Dare is dare to my heart any day anytime, only those with clear vision will acknowledge this. Congratulations to the sports fraternity of Nigeria and I hope they’ll utilize this development funds to help change the fortune of our local sports.
Oh yes! A wonderful news, the 80m is enough to do a whole lot within 4 years when judiciously managed. Now, my concern really is about the memorandum of understanding signed by Minister Sunday Dare with the BravoPoint international limited for a television programme which would create opportunities for the youths, support SME, SMs and other business enterprises. Mr. Minister Sir, what is happening to the understanding and how could those in the villages and the poor masses on the streets be part of it because I feel the opportunities shouldn’t be left for the programme participants alone. I would like to believe the minister does find time to see CN.