FEC approves Nigeria’s first ‘sports as business’ policy

The Federal Executive Council (FEC) on Wednesday approved Nigeria’s first sports initiative as a business policy, National Sports Industry Policy (NSIP).

The development was announced by Sunday Dare, minister of youth and sports development, on his official Twitter page.

“Federal Executive Council approves Nigeria’s first Sports as Business Policy, NSIP, today. This births a business model that will attract private investment through government incentives underpinned by a new sports code of governance for sporting federations,” he said.

Federal Executive Council approves Nigeria’s first Sports as Business Policy, NSIP, today. This births a business model that will attract private investment through government incentives underpinned by a new sports code of governance for sporting federations @GbengaGOLD

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— Sunday Dare (@SundayDareSD) November 2, 2022

This development will create opportunities for private investors to invest in the country’s sports industry and attract foreign and domestic business opportunities to develop the industry.