The recent decision of the Federal Government to approve the National Sports Industry Policy (NSIP) is a great delight to the Minister of Sports, Sunday Dare.
Dare noted that the decision would be a huge turn around for sports because the corporate world would embrace sports more than ever now that there are benefits approved for them by the Federal Government.
Only on Wednesday November 2, the Federal Executive Council approved the National Sports Industry Policy (NSIP) proposed to it by the Ministry of Youth and Sports Development.
Some of the approved incentives as outlined in the policy document include; Tax exemption and rebate for a period of five years for investors in the value chain of sports, land provision and waiver for certain fees on lands meant for sports among others.
Speaking at the weekend, the minister said: “Sports has assumed a global political, economic and social status placing high on the agenda of governments.
“Leaders and countries have leveraged on excellence in sports to advance their power and navigate their diplomatic relations, but above all to generate employment, create jobs and increase government revenue.
“Nigeria, a country where sporting talents abound especially amongst its youth and where participation in sports has experienced remarkable growth in the past decades, cannot therefore be left out of this positive scenario.