Sports federations tasked on self funding

The Minister of Youths and Sports Development, Sunday Dare, yesterday in Abuja said the Federal Government expects National Sports Federations to institute marketing platforms which can sustain them financially. Dare, while addressing the Federations’ secretaries on the newly-adopted National Sports Industry Policy, said the era of full funding of the federations by government has come […]

The Minister of Youths and Sports Development, Sunday Dare, yesterday in Abuja said the Federal Government expects National Sports Federations to institute marketing platforms which can sustain them financially.

Dare, while addressing the Federations’ secretaries on the newly-adopted National Sports Industry Policy, said the era of full funding of the federations by government has come to an end.

The Minister who said the policy which was recently approved was with emphasis on Private and Public Partnership, stated that it would attract necessary investment to sports development in the country.

“This policy means that the funding and control of sports, going forward, is almost a 50/50 situation between the private sector and the Federal Ministry of Youth and Sports Development (FMYSD).

“To drive this, we have set out three triggers, which we call the three ‘I’s: Infrastructure, Investment and Incentives,” he said.

Dare disclosed that the Ministry undertook an audit of sports infrastructure in the country and realised that out of existing 124 facilities only 21 of them were functional.

“Some of them are dead, others need upgrading. But it must be clear to us that this (infrastructure) is important to the mantra of sports as business,”

He pointed out that this was in the same realm with investment, as sponsors were expected to get a return on their investment.

”The same thing as well goes for incentives, for those who contribute financially to sports,” Dare added.

The Minister stated further that sports must for now be considered and treated as business.

“You go out there, meet with sponsors and be deliberate about it. This policy answers whatever questions that may arise with the potential sponsors.

“If in the past, you used to come to the Ministry to ask for N50 million for international competitions and all and we have been approving N20 million, now you can only get N5m Naira now because sports is now business.

“So, go and get sponsors. The Ministry will not ask you how you spent your money. Only be accountable to your various boards,” he said. (NAN)