NIS Partners EFFA Management To Revitalize Sports Economic

The National Institute for Sports (NIS) has officially partnered with EFFA Management Ltd in a move aimed at revitalising Nigeria’s sports economy, aligning with President Bola Ahmed Tinubu’s “Renewed Hope Agenda.”

The Memorandum of Understanding (MoU) was signed yesterday at the NIS Building in Abuja, marking a significant step towards diversifying sports funding and development.

The director-general and CEO of the NIS, Comrade Philip Shaibu, emphasised the necessity of private sector collaboration. “Government funding as far as NIS is concerned is at the lowest point,” he stated, highlighting that relying solely on public funds would hinder the agenda’s success. The partnership seeks to “breathe in the Renewed Hope Agenda” into the NIS, waking it up to its core mandate of fostering a sustainable sports ecosystem.

Mr. Olumide Fakeyeye, Director at EFFA Management Limited, lauded the administration’s focus on sports, which inspired their involvement. He believes Nigeria is a “superpower” in sports, rich in talent but lacking adequate developmental environments. “Initiatives like this, having such a visionary as a president, bringing the right people together, has allowed us to be here,” Fakeyeye remarked, expressing excitement for the project’s future impact.

Dr. Remu Majiroh, Principal Consultant to the NIS, further elaborated on the broader implications of the partnership. Beyond athletic performance, the initiative aims to combat youth unemployment, with data suggesting sports could potentially employ “close to 15 to 20 million people in Nigeria.” This includes a vast value chain, from athletes to support staff, merchandise, and infrastructure. “The only way we can drive this and achieve this is through private sector investments and through private sector partnerships,” Dr. Majiroh concluded.

The collaboration signifies a concerted effort to unlock the full economic potential of sports in Nigeria, driven by strategic partnerships and a vision for sustainable growth and job creation.