Skip to main content

*National Sports Industry Policy: Sports, Finance Ministers Constitute Technical Committee on Implementation*

 


The Sports and Youth Development Minister, Sunday Dare and the Minister of Finance Zainab Ahmed

have constituted the Technical Committee to work on the specifics of the incentives package approved in the  National Sports Industry Policy passed by the Federal Executive Council on November 2, 2022.


The Committee will be chaired by both Ministers and will have representations from the following ministries and agencies;


i. Federal Ministry of Sports and Youth Development.


ii. Federal Ministry of Finance.


iii. Central Bank of Nigeria.


iv. Federal Inland Revenue Service.


v. Federal Ministry of Trade and Industry.


vi. Customs.


The Technical Committee is expected to work out the fine details of the fiscal incentives outlined in the policy, which emphasizes 'Sports as business', and also prepare grounds for more private sector participation in the sports sector. 


The approval to apply the Renovate Operate Transfer(ROT), Build Operate and Transfer(BOT), Integrated National Financial Framework(INFF), Nigeria Integrated Infrastructure Master Plan(NIIMP) or any other innovative PPP financing model for the provision, rehabilitation of sports facilities in collaboration with the Ministry of Finance, Budget and National Planning is also a novel aspect of the policy. 


The incentives as outlined are :

A) Tax exemption and rebate for a period of 5 years for investors in the value chain of sports.


B) Land provision and waiver for certain fees on lands meant for sports.


C) Single digit loan interest rates for corporate organisations and private individuals investing in the sports value chain.


D) Independent Government Grant through the establishment of an Independent Athletes Welfare Fund(AWF)from which athletes representing the country can draw support for education and trainings.

Comments

Post a Comment

Popular posts from this blog

2023 LSFA/BETWGB Lagos FA Cup Getting Hotter

Akinkunle Bolarinwa  The second round of matches were concluded at the ongoing Lagos State FA Cup competition and more upsets are expected before the last eight games. Organisers have seen tremendous improvements in team's participation and crowd turnouts. However, top clubs keep their eye on the prize as the competition goes into crucial stages. Here-under are results of the second round of matches. *Results of 2nd Round Matches at Maracana Stadium, Ajegunle on Friday, March 03, 2023* 1. G12 1 Vs 0 BYT Academical 2. Utility Sports 2(5) Vs 2(4) Ecas FC 3. Synergy Ultimate FC 4 Vs 3 Emmydinho FC 4. Raymond Remmy FC 4 Vs 1 FC Robo Warriors FT; Nigeria Naval Stadium; 5. Sporting Club Heritage FC 0 Vs 3 Admiralty FC 6. Lekki United FC 2(3) Vs 2(4) Young Stars FC (Pen) 7. M.22 FC 0 Vs 3 North York FC
Post a Comment
Read more

13th African Games:Minister of Sports Development Charges Athletes to Conquer Africa

13th African Games:Minister of Sports Development Charges Athletes to Conquer Africa _Says Nigeria is solidly behind them_ The Honourable Minister of Sports Development, Senator John Owan Enoh on Tuesday the 5th of March charged Nigeria’s contingent to the All Africa Games taking place in Ghana to conquer Africa.  Addressing the athletes onboard the aircraft scheduled to take them to Ghana for the tournament shortly before takeoff at the Nnamdi Azikiwe International Airport Abuja, the Minister assured them that the entire nation was solidly behind them.  He further stated that although some of the athletes may be representing the country for the first time, the tournament affords them the opportunity to make the nation proud. Senator Enoh urged the departing athletes to build on the strong performance of the country in the previous games by posting a strong performance that will ensure that Nigeria emerges the best in Africa. “ Let me remind you that you carry the hopes and as...
Post a Comment
Read more

NPFL - STARTIMES DEAL: MALLAM SHUAIBU GARA GOMBE MISLEADING THE SPORTS INDUSTRY IN NIGERIA

NPFL - STARTIMES DEAL: MALLAM SHUAIBU GARA GOMBE MISLEADING THE SPORTS INDUSTRY IN NIGERIA My attention is seriously drawn to the fact that Mallam Gara Gombe clearly shows in his recent submission to the Guardian that he has ill interests and it isn't only about fighting for the interest of local football but also trying to show that he deserves to be the one leading Nigerian football through his open statements against the NPFL leadership he referred to as illegitimate in one of his recent releases. Remember, "what is good for the goose is also good for the garner." It is a fact he desires to get to the top of football leadership in Nigeria and he might feel at this point he alone has the monopoly of football administrative knowledge. Wouldn't you expect others to deliberately begin to employ similar tactics to topple your leadership too?  Gara Gombe said; quote: "Because Nigeria is a dumping ground you illegally appoint people to manage a league they know nothi...
Post a Comment
Read more