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The Minister made the statement during a briefing and outlined his vision for this financing model as he highlighted the critical need for sustained and enhanced funding to elevate Nigerias sports industry to new heights.
Part of the funding models and ideas the Ministry of Sports Development is trying to work on is on trying to explore the possibilities of having a lottery trust fund that is specific to sports, Senator Enoh said.
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In other developed climes, there is a dedicated Lottery Trust Fund for sports. This does not mean we do not have a right or a claim to the Lottery Trust Fund.
Some years back, when this trust fund was put in place, there may not have been an appreciation of the kind of role and contribution that sports was going to make in terms of the development of this trust fund. Several years later, the present contribution of sports to that fund is more than any other sector and I think the Ministry is going to keep on engaging with the leadership of the Lottery Trust Fund and see what benefits we can have from that fund.
It is envisaged that this dedicated fund will serve as a catalyst for change, empowering athletes, fostering grassroots development, and enabling the modernization/upgrading of sports infrastructure nationwide.
Senator Enoh had earlier reiterated that the Ministry of Sports Development is embracing more dynamism in its collaborations with key stakeholders, including sports federations, relevant government bodies, private sector partners, and the general public, fostering a collective effort to drive sustainable growth and excellence in Nigerian sports.
The Ministry of Sports Development anticipates that the establishment of the Lottery Trust Fund for sports will signify a transformative milestone in the pursuit of sporting excellence and will solidify Nigerias position as a powerhouse in the world of sports.
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