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Sports ministry, NESG commence recovery process of sports industry

… activity halt due to COVID-19

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As part of its recovery preparation from the impact of the  coronavirus pandemic, the Sports Industry Thematic Group (SITG) of the Nigerian Economic Summit Group (NESG) has presented the National Sports Industry Policy (NSIP) draft document to Sunday Dare, minister for youth and sports development.

This is coming after the discussion between the Federal Ministry of Youth and Sports Development (FMYSD) and SITG where the minister revealed that the sports industry worldwide, including Nigeria has lost over $65 billion due to the outbreak of the pandemic, and in view of this it was necessary to take actions as to how the Nigerian sports sector will rebound and be utilized for economic growth after the pandemic.

in his address, the minister mentioned that activities in the industry was disrupted due to the pandemic however it is necessary for the country’s sports sector to leverage on the unique circumstances and challenges posed by COVID-19 as an opportunity to rethink policy direction, innovate and reassess priorities in the long run which are in line with the four key thematic areas of incentives, investment, infrastructure and policy.

“The COVID-19 pandemic has majorly brought the sector to a halt, affecting stakeholders and reducing investment in critical infrastructure in addition, as much as US$65 Billion has been lost as a result of postponement and cancellation of several major events and leagues across the world” the minister said.

Speaking on the policy draft, Dare said it shows how much commitment is being made to revive the sector.  “we have seen synergy, energy and collaborative spirit that has led the process this far, this work will stand the test of time and provide the needed transformation for our sports industry, The reviewed sports draft we see today will bring about a new dawn and help move sports from being wholly recreational to being a business.” He said.

The Minister also mentioned that by September, the ministry will present the draft for approval to the federal executive council after necessary validation process.

Nkechi Obi, Head SITG, NESG, revealed that the National Sports Policy draft document was a result of hard work that included diverse consultations and deliberations to obtain the best rebound decisions for Nigeria’s sports industry which will also open the sports sector to new revenue streams.

The NSIP draft document can be reviewed at www.nesgroup.org/nsip

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