After presenting the idea and importance of sports to the Federal Executive Council, FEC approved it from 2021 through 2025. This will surely give a prominent rise to Nigerian sports.
N140 billion is confirmed for the Federal Ministry of Youth and Sports Development for at least four to five years. This is happening for the first time in the history of Nigeria. As in previous years (2017-2020), recalling the Economic Recovery and Growth Plan (ERGP) cleared that sports were not a part of the economic plan.
Last year, President Muhammadu Buhari, after analyzing the need and reclassifying sports as a business, confirmed that now the National Development plan will fund 80 billion for development affairs. National Sports industry Policy (NISP) is guaranteed to give the next boost to the new budget. Also, building the sports as the Nigerian business module becomes the priority of the Minister.
Now with different approaches, the final draft result is under the decision of the Ministry of Justice. After so many trials and legal discussions, it is said that Nigerian sports will be the topmost priority in the coming years. Thus, the draft was approved regarding the sports budget and its presence as a business.
For 2021-2025, National Development Policy accepted the mantra of sports a business structure. So, not only this, but NDP decided to give a boost of N60 billion to the youth development sector. This will be effective for the Nigerian people in every aspect. It will turn the doubts into a successful journey for the Nigerian people.
The reasons for overall efforts are to focus on the improvement of entrepreneurship skills and potential growth of the ministry of micro, small and medium enterprises(MSME). Therefore, social development is equal to human capital development, and this rule will help the Nigerian economy in terms of sports and youth development factors.
The approval of the Federal National Council (FEC) for giving N140 for the sports and youth sectors has resolved many Nigerian people’s problems. There are thousands of dreams that have gone unnoticed. But now, with the help of the ministry’s appropriate ad legal decisions, both the department(youth and Sports) are able to secure a prominent monetary figure that will surely promote more effective changes within the country. The beginning of the new sports development era is near, at least for the coming four to five years.
Efforts and hard work of the Minister of youth and sports have shown the results. This will bring potential outcomes in both sectors. However, the development programs will be enough to give confidence to the people of Nigeria. In addition, the financial aid and assistance will be adding more perks and will contribute to the growing sports industry. This is true that under the National Development Plan, Nigerian sports will be continuing its services by securing N140 billion.
Lastly, the fruitful results that will be observed in these years would be the collective struggles of NDP and FEC to consider the facts and realities—also, making a change in the development plan.