Federal Executive Council (FEC) earlier today approved a new policy, National Sports Industry Policy (NSIP) 2022-2026, that will transform the sports industry into a revenue-generating industry for both the public and commercial sectors.
Vice President Yemi Osinbajo made this known while briefing newsmen after the Council meeting at the Presidential Villa, Abuja.
Minister of Sports and Youth Development, Sunday Dare, said that with the approval, sports in the nation have added a structured business portfolio to the recreational value and that the new policy has provided for various categories of the sports sector stakeholders, including young people, who make up the majority of the sports enthusiast population.
He also stated that the policy has a number of sections dealing with sports governance rules, goals for developing the infrastructure, and other modules meant to standardize the sports industry.
“This afternoon, the Federal Executive Council, chaired by His Excellency, the Vice President, approved the National Sports Industry Policy (NSIP) 2022-2026.